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- 12/16/18--06:31: _An HR exec who's wo...
- 12/16/18--06:31: _The most expensive ...
- 12/16/18--06:31: _This $245 million L...
- 12/16/18--06:32: _2019 is shaping up ...
- 12/16/18--06:33: _Trump's trade war c...
- 12/16/18--06:37: _Pete Davidson appea...
- 12/16/18--06:38: _Media companies are...
- 12/17/18--03:14: _HQ Trivia replaced ...
- 12/17/18--03:18: _Saudi Arabia praise...
- 12/17/18--03:49: _Meghan Markle has l...
- 12/17/18--03:57: _10 things you need ...
- 12/17/18--04:03: _Why competitive vid...
- 12/17/18--04:06: _Trump's own lawyer ...
- 12/17/18--04:22: _Vladimir Putin real...
- 12/17/18--04:30: _It turns out there'...
- 12/17/18--05:00: _The asset managemen...
- 12/17/18--05:11: _25 tech products th...
- 12/17/18--05:19: _Police investigate ...
- 12/17/18--05:23: _The top 7 shows on ...
- 12/17/18--05:29: _Goldman Sachs slide...
- Former Facebook and Amazon HR exec Bharath Jayaraman says top tech companies value people who can collaborate effectively.
- That means knowing how to argue and disagree respectfully.
- It's critical that your coworker should never question your commitment to the team or the product during the conflict.
- 12/16/18--06:31: The most expensive New York City neighborhoods in 2018, ranked
- PropertyShark just released its rankings of the 50 most expensive neighborhoods in New York City in 2018.
- Manhattan neighborhoods dominated the list, with eight of the top 10 spots.
- The median sale price among the 10 most expensive neighborhoods ranges from $1.31 million to $3.85 million.
- The Chartwell Estate in Los Angeles is for sale for $245 million.
- That makes it the most expensive home for sale in the US.
- The historic California estate is 960 times more expensive than the typical American home, which costs $255,000.
- Markets are undergoing various transitions that make volatility very likely in 2019, according to Suzanne Hutchins, the global investment manager at the $64 billion Newton Investment Management, BNY Mellon's thematic investment boutique.
- These transitions include the withdrawal of central-bank liquidity and rising interest rates.
- In an interview with Business Insider, she explained how her fund was carrying out a capital-preservation strategy designed to limit losses in 2019.
- President Donald Trump has imposed tariffs on Chinese goods, steel, aluminum, and more.
- Trump has also threatened to impose more tariffs on Chinese goods and imported cars from around the world.
- According to a report from the Tax Foundation, Trump's existing tariffs will cost every middle-class family $146 — and the threatened tariffs could push that to $453 in a year.
- The tariffs will also be a drag on the economy and cost tens of thousands of jobs.
- "Tariffs can raise the cost of parts and materials, which would raise the price of goods using those inputs and reduce private-sector output. Tariffs also result in consumers paying more for goods than they would have otherwise," York wrote.
- "Price increases such as these reduce the after-tax value of both labor and capital income; as tariffs reduce the return to labor and capital, they incentivize Americans to work and invest less, which leads to lower output."
- A decrease in GDP by 0.12% over the long run — the equivalent of $30.4 billion lost.
- The elimination of 94,300 full-time American jobs.
- A decrease in after-tax income of 0.3% for all Americans — and a greater decline for the middle class. According to York, for Americans in the middle quintile of income earners, the after-tax wage decrease amounts to 0.33%, or $146 per taxpayer.
- A decrease in GDP by 0.38% over the long run — the equivalent of $94.4 billion lost.
- The elimination of 292,600 full-time American jobs.
- A decrease in after-tax income of 0.92% for all Americans. For Americans in the middle quintile of income earners, the after-tax wage decrease would be 1.04%, or about $453.
- Pete Davidson made a brief appearance on NBC's "Saturday Night Live" Saturday night to introduce Miley Cyrus and Mark Ronson's second musical performance of the night.
- There was speculation the comedian wouldn't appear following a disturbing Instagram post he shared Saturday in which he wrote, "I really don't want to be on this earth anymore." He quickly deleted his Instagram account after posting the message.
- Actor Jon Cryer, Davidson's co-star in "Big Time Adolescence,"tweeted that Davidson was "at SNL and accounted for" Saturday afternoon.
- The New York Times reported that the New York Police Department was contacted by an NBC representative that said Davidson was at work and fine.
- His only other appearance during Saturday's episode was in a pre-taped sketch on celebrity auditions for Oscar host.
- Cyrus and Ronson performed "(Happy Xmas) War Is Over" with Sean Ono Lennon.
- Watch the video below.
- HQ Trivia cofounder Colin Kroll died at the age of 34 on Saturday night.
- Instead of its usual 9 p.m. Sunday game, HQ aired a tribute to Kroll.
- HQ host Scott Rogowsky announced that the $25,000 prize for that night had instead been donated to an animal charity in Kroll's memory.
- Saudi Arabia praised the Trump administration on Sunday for their "prudent" stance on the murder of Jamal Khashoggi, who was killed in October by Saudi agents.
- President Donald Trump and Jared Kusher have been keen to downplay any personal involvement by the Saudi crown prince, Mohammed bin Salman.
- This is despite reports asserting that the CIA is all but certain that Crown Prince Mohammed ordered the killing personally.
- The US Senate broke ranks with the president, and passed a resolution pinning the blame on the prince.
- Saudi Arabia — after changing its story several times — says that the death was a rogue operation, and is putting 18 people on trial for it.
- Meghan Markle is undermining the voice of feminism, two researchers from British universities have said.
- In a paper published in the journal Celebrity Studies, authors Laura Clancy and Hannah Yelin argue that the actress' feminist voice has lulled since marrying Prince Harry in May.
- They add that she has become a tool for the monarchy as her fame is being used to "re-legitimise" the royal family's male monarchical power.
- Markle has not been entirely silent on the issue of feminism since her induction into the royal fold.
- During her and Harry's royal tour of the British Commonwealth in October, the duchess gave a speech about women's suffrage and gender equality in New Zealand.
- The stock market is facing a cocktail of fears in 2019. "The market tensions we saw during this quarter were not an isolated event," said Claudio Borio, the head of the Monetary and Economic Department at the Bureau of International Statistics, according to Markets and Money. "It was not the first, and it will not be the last. It was just another bump along the narrow path of monetary policy normalization."
- Trump's trade war is already hitting pockets of middle America. President Donald Trump's trade war will cost American taxpayers in the middle quintile of income earners $146 on average, a number expected to rise to $453 in a year if he goes ahead with his threatened tariffs, according to the Tax Foundation.
- The era of US dollar 'exceptionalism' is ending soon. "We expect the US dollar index (DXYT) to weaken by about 6.5% to 91 in 2019," UBS' Global Macro Strategy team said.
- We may have just gotten the most alarming sign yet that a stock-market collapse is coming. Investors pulled $27.6 billion out of US equities in the week that ended December 12, making for the second-biggest outflow ever, according to Bank of America Merrill Lynch.
- Malaysia files criminal charges against Goldman Sachs and 2 of its former executives over the 1MDB scandal. Malaysia has accused the bank and two of its former executives, Tim Leissner and Roger Ng Chong Hwa, as well as the former 1MDB employees Jasmine Loo Ai Swan and Low Taek Jho, of "grave violations of our securities laws" relating to its $6.5 billion sovereign wealth fund.
- Google is spending big money on a new campus in New York City. The tech giant plans to spend $1 billion on the campus, which is meant to be the home of its global business organization, Reuters says, citing a Google blog post.
- GM issues layoff notices for 5 US and Canadian factories. The automaker said in a statement out Friday evening that 2,800 positions would be affected and that 1,100 employees were interested in relocating to plants that need more labor.
- Stock markets around the world are going nowhere. Hong Kong's Hang Seng (-0.03%) was little changed in Asia, and Germany's DAX (-0.11%) leads in Europe. The S&P 500 is set to open flat near 2,601.
- Earnings reporting is light. Oracle reports after markets close.
- US economic data keeps coming. Empire Manufacturing will cross the wires at 8:30 a.m. ET, and the NAHB Housing Market Index will be released at 10 a.m. ET. Data concludes at 4 p.m. ET with TIC flows.
- eSports is a still nascent industry filled with commercial opportunity.
- There are a variety of revenue streams that companies can tap into.
- The market is presently undervalued and has significant room to grow.
- The dynamism of this market distinguishes it from traditional sports.
- The audience is high-value and global, and its numbers are rising.
- Brands can prosper in eSports by following the appropriate game plan.
- Game publishers approach their Esport ecosystems in different ways.
- Successful esport games are comprised of the same basic ingredients.
- Digital streaming platforms are spearheading the popularity of eSports.
- Legacy media are investing into eSports, and seeing encouraging results.
- Traditional sports franchises have a clear opportunity to seize in eSports.
- Virtual and augmented reality firms also stand to benefit from eSports.
- The gaming nucleus of eSports, including an overview of popular esport genres and games; the influence of game publishers, and the spectrum of strategies they adopt toward their respective esport scenes; the role of eSports event producers and the tournaments they operate.
- The eSports audience profile, its size, global reach, and demographic, psychographic, and behavioral attributes; the underlying factors driving its growth; why they are an attractive target for brands and broadcasters; and the significant audience and commercial crossover with traditional sports.
- eSports media broadcasters, including digital avant-garde like Twitch and YouTube, newer digital entrants like Facebook and traditional media outlets like Turner’s TBS Network, ESPN, and Canal Plus; their strategies and successes in this space; and the virtual reality opportunity.
- eSports market economics, with a market sizing, growth forecasts, and regional analyses; an evaluation of the eSports spectacle and its revenue generators, some of which are idiosyncratic to this industry; strategic planning for brand marketers, with case studies; and an exploration of the infinite dynamism and immense potential of the eSports economy.
- President Donald Trump's own lawyer, Rudy Giuliani, suggested on Sunday that the president hadn't always told truthful stories about alleged campaign finance felonies.
- Giuliani, speaking to ABC's George Stephanopoulos, attacked former Trump lawyer Michael Cohen, who recently pleaded guilty to campaign finance felonies which he said Trump directed him to commit.
- Giuliani said Cohen had changed his story repeatedly, to which Stephanopoulos said that Trump had done the same thing. Giuliani didn't deny that.
- Giuliani only said Trump wasn't speaking under oath and had tried his best to accurately remember what happened, thereby suggesting his client, the president, hadn't always told the truth.
- Vladimir Putin has said that rap music is a threat to Russia, and that the government should regulate it.
- He was speaking to his cultural advisors at the Council for Culture and Art on Saturday.
- He said: "Rap and other modern [forms of art] are rested upon three pillars: sex, drugs and protest."
- Putin then suggested banning curse words in some cases.
- Several Russian rappers have been arrested in 2018, and some claim the police are specifically targeting rappers.
- There's a prequel to The Grinch, and it's set at Halloween.
- "Halloween is Grinch Night" was actually written by Dr Seuss in 1977 after "How the Grinch Stole Christmas," but it's set before.
- The film won an Emmy for Outstanding Children's Programme.
- Four executives predict changes in the asset management industry in 2019, from the culling of so-so products, to new types of private equity deals.
- The new year will also change how impact investors can profit from their early-stage investments, as major private equity names come knocking at the door with more capital than ever.
- Australian police say they're investigating a "potential threat" which forced a plane to turn around an hour after taking off.
- Tigerair flight TT271 from Sydney to Melbourne took off around 7 p.m. but landed back in Sydney at around 8 p.m.
- New South Wales police told Business Insider they were called at 8:30 p.m. local time and attended the plane with other agencies.
- A Tigerair spokesperson told the Daily Mail: "The Captain made the decision to return to Sydney following an incident onboard."
- Police and Tigerair declined to explain what exactly the threat was.
- 12/17/18--05:23: The top 7 shows on Netflix and other streaming services this week
- Every week, Parrot Analytics provides Business Insider the most in-demand TV shows on streaming services.
- This week includes DC Universe's "Titans" and Netflix's "The Ranch."
- Goldman Sachs and two of its former executives have been charged with committing "grave violations" of Malaysia's securities law relating to 1MDB, the country's sovereign wealth fund.
- Goldman shares fell 2.65%.
- Watch Goldman Sachs trade live.
Netflix prizes employees who are "extraordinarily candid." Amazon, those who are "vocally self-critical" and able to "disagree and commit," i.e. forge ahead on a project even if they don't currently support it.
Top tech companies are increasingly looking for people who, in the spirit of pushing the organization forward, know how to argue effectively. If you're just going to nod your head and smile at every idea that comes your way, you're probably not welcome.
Bharath Jayaraman, who has worked in human resources at Facebook and at Amazon (he's currently the vice president of people at Paxos) said every company has its own "flavor" of collaboration. But he's noticed that, at least at the places where he's worked, collaboration is defined as "being able to have arguments, disagree, have difficult conversations"— respectfully.
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The key to effective collaboration — and to earning coworkers' trust — at these companies, Jayaraman said, is to communicate that you're committed to improving whatever product or process you're working on. The "critical" piece, he added, is for your conversation partner to walk away saying, "I may or may not agree with you, but I don't question your intent."
A few years ago, I reported on research published in the Academy of Management Review, which found that the ideal form of workplace conflict is a debate about the issue at hand, as opposed to personal attacks or behind-your-back office politics. Yet not every workplace is home to this healthy conflict style.
"Agreeing with people and being cohesive is actually easy," Jayaraman said. "Disagreeing with people and still being cohesive is hard."
PropertyShark just released its rankings of the 50 most expensive neighborhoods in New York City, and, unsurprisingly, Manhattan dominates the list.
All but two of the 10 most expensive New York City neighborhoods are in Manhattan; the two outliers are in Brooklyn.
According to PropertyShark's analysis, the only two new entries to break into the top 10 are West Village and Greenwich Village.
TriBeCa topped the list with a median sale price that's nearly $1 million more than that of the second most expensive NYC neighborhood. Notably, this is the second consecutive year TriBeCa has taken the top spot.
Some NYC neighborhoods are also among the most expensive zip codes in America: A previous PropertyShark analysis ranked three Manhattan zip codes (10013, 10007, 10282, respectively) in the top 25 most expensive US zips.
Here are the 10 most expensive neighborhoods in New York City in ascending order, along with the median sale price in each. You can see the full ranking of the 50 most expensive neighborhoods on PropertyShark.
10. Little Italy (Manhattan)
Median sale price: $1.32 million
9. Greenwich Village (Manhattan)
Median sale price: 1.35 million
8. Flatiron (Manhattan)
Median sale price: $1.57 million
See the rest of the story at Business Insider
A Los Angeles mansion is on the market for $245 million, making it the most expensive house for sale in the US — and about 960 times more expensive than the typical American home.
The median US home price was $255,000 as of the second quarter of 2018, according to data compiled by ATTOM Data Solutions.
Sitting on nearly 11 acres, the main home of the Chartwell Estate was designed by Sumner Spaulding in 1930, according to the listing. In the 1980s, the mansion's interiors were renovated by designer Henri Samuel — but no recent photos have been released, keeping the inside of the home a mystery.
The expansive grounds of Chartwell include manicured gardens, a 75-foot pool, and views that span from downtown Los Angeles to the Pacific Ocean. There's also a car gallery that fits 40 vehicles, a five-bedroom guest house, a tennis court, and a 12,00-bottle wine cellar. Last year, the property was listed for $350 million.
Chartwell is listed with several agents: Jeff Hyland, Drew Fenton, and Gary Gold of Hilton & Hyland (a Christie's International Real Estate affiliate), along with Jade Mills, Joyce Rey, and Alexandra Allen of Coldwell Banker Global Luxury, and Drew Gitlin and Susan Gitlin of Berkshire Hathaway Home Services.
Here's a look at the sprawling estate's grounds.
The Chartwell Estate sits on 10.39 acres in Bel Air, Los Angeles, one of the most "prestigious residential communities in the city of Los Angeles," according to luxury real estate firm Hilton & Hyland.
Source: Hilton & Hyland
The 25,000-square-foot mansion has 11 bedrooms, 18 bathrooms, and a ballroom.
The home was built in the 1930s for civil engineer Lynn Atkinson and later purchased by late Univision billionaire A. Jerrold Perenchio.
Source: Los Angeles Times
See the rest of the story at Business Insider
By one measure, 2018 was the worst year to profit from financial markets since the turn of the last century.
If it ended mid-November, this year would have produced the highest share of global assets with a negative return since 1901, according to data compiled by Deutsche Bank. There were few places to hide as even the most defensive equity sectors sold off at some point during the year and as bond prices unusually fell alongside stocks.
There's little evidence that the market's woes will be resolved soon. Interest rates are rising, central banks are withdrawing their liquidity injections, and the trade war is raging.
These ongoing risks have prompted a capital-preservation stance at Newton Investment Management, BNY Mellon's thematic investment boutique that oversees £50.8 billion ($64.2 billion) in assets.
"I would describe next year as the Queen described it — as a year of annus horribilis," Suzanne Hutchins, the global investment manager, said in a recent phone interview from London. She was referring to the Latin phrase that means "horrible year."
"It's going to be very challenging moving into next year because we're at the cusp of many turning points. And certainly, the volatility that we saw in February of 2018 will continue."
Hutchins is a co-portfolio manager of Newton's Real Return strategy, which aims to deliver positive returns for clients over the long term regardless of market conditions. But heading into 2019, she's focused on making sure that the portfolio is watertight.
Her strategy is a combination of do's and don'ts.
"You want companies that haven't got very much debt and you want companies that will grow irrespective of what the economy is doing," Hutchins said. "And that tends to be in areas like healthcare, pharmaceuticals. It tends to be in some areas of technology."
Within technology, Hutchins is betting on companies that are growing and cash-rich but don't necessarily have the same allure as the so-called FAANG stocks. In fact, she's avoiding this cohort of companies because their valuations are "very rich."
Cisco is an example of a tech company that is growing but doesn't have the flashiest businesses in tech, she said.
Her portfolio also favors companies that benefit from green energy. The growth of sustainable energy is one of her long-term secular bets, and companies that are involved in this arena create investable opportunities as more people think about climate change, she said.
The Real Return strategy is not tethered to any particular asset class and has the flexibility to invest in whatever ensures the strongest returns. This freedom is reflected in her fund's strategy for hedging against painful losses in the market.
"Some gold in your portfolio is always a good hedge," Hutchins said.
Like many other asset classes, the precious metal has had a mediocre year, down 4% from January 1 through Wednesday. Still, Hutchins recommends it as a hedge against unforeseen geopolitical shock, noting that people could purchase gold through an exchange-traded commodity fund.
She further advised that investors diversify their portfolios with bonds.
"In the US, you might not think US Treasurys look attractive," Hutchins said. "But I have to say they're very, very attractive to non-US investors. Other bond markets like Australia and New Zealand are attractive — less so to perhaps the US investor. But with their close proximity to China and if China is slowing down, then the Australia and New Zealand bond markets should do quite well."
President Donald Trump's trade battles are projected to hit middle-class families hard, according to a new study, especially if the president follows through on all of his threats.
According to a report from the conservative-leaning Tax Foundation, current tariffs will cause a squeeze for middle-class Americans — and lead to fewer jobs in the US. The think tank also estimated that the economic pain of the tariffs would get much worse in the event Trump follows through on all tariffs he has threatened.
"These tariffs will increase the tax burden on Americans, falling hardest on lower and middle-income households, and reduce economic output, employment, and wages," said Erica York, an analyst at the Tax Foundation.
While tariffs have the immediate effect of raising costs at a port of entry for goods, York said those effects can eventually filter to businesses and consumers purchasing imported goods.
Here's a breakdown of some of the effects of the currently imposed tariffs, according to the study:
While the tariffs in place are expected to be a negative for the US, Trump's threatened tariffs on imported autos and the remaining $255 billion worth of Chinese goods would make things even worse.
If Trump follows through on his threats, here are a few of the downsides, according to the study:
Proposed tariff increases are on hold while the US and China try and work out differences and get a deal before March 1, but it's unclear if the two sides will be able to come to an agreement. The auto tariff proposal is expected to reach Trump's desk soon, but advisers have been urging the president not to move forward with the restrictions.
As for current tariffs, Trump has so far been unwilling to drop duties on imported steel and aluminum — even calling the measures a great success.
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Consumers having been “cutting the cord,” or canceling their pay-TV subscriptions in favor of internet-delivered alternatives, for years now, but the trend reached new heights in 2017.
There’s little reason to believe that this phenomenon will slow down any time soon either, so pay-tv providers will have to find new ways to generate revenue as their primary source continues to erode.
One of the most prominent ways media companies are recuperating cord-cutting losses is by launching their own direct-to-consumer streaming services.
But what makes for a successful streaming video service?
The Business Insider Intelligence Digital Media research team has written a note breaking down the evolving landscape of streaming video on-demand (SVOD). The note looks at which characteristics consumers care about most in a streaming service and which are just "nice to have."
To get your FREE copy, click here.
Gameshow app HQ Trivia ditched its usual game on Sunday night and paid tribute to its cofounder Colin Kroll, who died at age 34 over the weekend.
The app did not air its regular show out of respect, and instead host Scott Rogowsky remembered Kroll with a small eulogy.
"Colin, or CK as we called him, was true visionary who changed the game twice. First with Vine, and then with this very app," Rogowsky said.
Rogowsky also announced that because Kroll was an animal lover — who would occasionally bring his dog Tater to the office — HQ donated what would have been Sunday night's $25,000 prize to The Humane Society in his memory.
So sad to hear about the passing of my friend and co-founder Colin Kroll. My thoughts & prayers go out to his loved ones. I will forever remember him for his kind soul and big heart. He made the world and internet a better place. Rest in peace, brother.— Rus (@rus) December 16, 2018
Saudi Arabia has praised the "prudent" Trump administration for its stance on the murder of Jamal Khashoggi, which has seen the president and other senior figures help Crown Prince Mohammed bin Salman avoid any blame.
The quote appeared in a statement published by the official Saudi Press Agency on Sunday: "The Kingdom appreciates the prudent position taken by the United States Government and its institutions regarding the recent developments."
Saudi Arabia was responding to a motion passed by the US Senate, which broke ranks with President Donald Trump to directly blamed Crown Prince Mohammed for ordering the murder, a stance reportedly backed up by the CIA.
While praising Trump, the Saudi statement called the US Senate motion "baseless," and characterized it as "blatant interference" in its domestic politics.
By contrast, Trump and his most senior aides have offered comfort for Crown Prince Mohammed even as damning headlines stacked up.
In October, Trump said in an interview"I hope that the king and the crown prince didn’t know about" the killing.
A few weeks later Trump prevaricated on who could have been to blame, saying of Crown Prince Mohammed "maybe he did and maybe he didn't" know about the killing.
Trump has compared the media's pursuit of the story to accusations of sexual misconduct against Supreme Court Justice Brett Kavanaugh, and has suggested that "maybe the world should be held accountable."
Last week Jared Kushner also studiously avoided mentioning the crown prince's name when Fox News host Sean Hannity asked him about the murder last week. Kushner framed the killing as a distraction which was getting in the way of broader US ambitions in the Middle East.
When asked about the CIA's assessment, US Secretary of State Mike Pompeo refused to implicate bin Salman too. He told reporters on November 28: "There is no direct reporting connecting the crown prince to the order to murder Jamal Khashoggi."
Saudi Arabia has repeatedly denied that Crown Prince Mohammed was involved in Khashoggi's death, even as it changed other elements of its narrative around exactly what happened when he died.
The Kingdom maintains that his death at the hands of Saudi agents in the country's consulate in Istanbul, Turkey, was a rogue operation.
18 people have been charged with involvement, five of whom could be put to death if found guilty.
Meghan Markle: A feminist hero?
Not quite, according to two university researchers who have studied Markle since her marriage to Prince Harry in May.
In a paper entitled "Meghan's Manifesto: Meghan Markle and the Co-option of Feminism," published in the journal Celebrity Studies, authors Laura Clancy and Hannah Yelin argue that the actress' feminist voice has lulled since her induction to the royal fold.
According to The Times, Clancy and Yelin say in the paper that Markle is being subjected to a "conservative, upper-class makeover" and that her fame is being used to "re-legitimise" the royal family's male monarchical power.
"Markle's activist voice has been either silenced or appropriated by the monarchy," the researchers write.
"Shas quit her acting career, closed down her popular blog and social media accounts for all her online activity to be ciphered through Kensington Palace.
"Meanwhile, Markle is said to be receiving 'duchess lessons' from the Queen's advisers, to be brought up to speed with protocol and expectations of life with the monarchy.
"While the monarchy appears to be celebrating her diversity and modernising influence, then, this is only permitted within prescribed boundaries."
Her page on www.royal.uk, the official website of the royal family, is almost entirely devoted to championing women.
Its central point, and the only direct quote from Meghan, is the line "I am proud to be a woman and a feminist."
The entry also opens with an anecdote from 1993, when the 11-year-old Meghan called out the US consumer goods giant Procter & Gamble for using sexist language to market their dish soap.
It also highlights her pro-women work with the United Nations, which she supports as an "advocate for women's political participation and leadership."
During her recent royal tour of the British Commonwealth, Markle gave a speech about women's suffrage and gender equality at Government House in Wellington, New Zealand.
"Because, yes, women's suffrage is about feminism, but feminism is about fairness," Markle said in the speech.
"In the words of your suffragette, Kate Sheppard: 'All that separates, whether race, class, creed, or sex, is inhuman and must be overcome.'"
Markle's feminist outcries are too few and far between, though, the researchers say, going further to assert that the Duchess' role in the royal family actually undermines feminism as a whole.
"A celebrity (post) feminist such as Markle is of great value to a British monarchy keen to ... mask, or at least deflect attention from, their own intensely problematic relationship with issues of race, gender, class and religion.
"What is at stake here is much more than the representations of one woman and the meanings contained therein; it is the meaning of feminism itself."
Time will tell whether Markle's feminist advocations are indeed being muffled by the palace, however, The Times understands that the duchess' first royal patronages, to be announced next year, will champion causes relating to female empowerment.
Here is what you need to know.
This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here.
What is eSports? History & Rise of Video Game Tournaments
Years ago, eSports was a community of video gamers who would gather at conventions to play Counter Strike, Call of Duty, or League of Legends.
These multiplayer video game competitions would determine League of Legends champions, the greatest shooters in Call of Duty, the cream of the crop of Street Fighter players, the elite Dota 2 competitors, and more.
But today, as the history of eSports continue to unfold, media giants such as ESPN and Turner are broadcasting eSports tournaments and competitions. And in 2014, Amazon acquired Twitch, the live streaming video platform that has been and continues to be the leader in online gaming broadcasts. And YouTube also wanted to jump on the live streaming gaming community with the creation of YouTube Gaming.
eSports Market Growth Booming
To put in perspective how big eSports is becoming, a Google search for "lol" does not produce "laughing out loud" as the top result. Instead, it points to League of Legends, one of the most popular competitive games in existence. The game has spawned a worldwide community called the League of Legends Championship Series, more commonly known as LCS or LOL eSports.
What started as friends gathering in each other's homes to host LAN parties and play into the night has become an official network of pro gaming tournaments and leagues with legitimate teams, some of which are even sponsored and have international reach. Organizations such as Denial, AHQ, and MLG have multiple eSports leagues.
And to really understand the scope of all this, consider that the prize pool for the latest Dota 2 tournament was more than $20 million.
Websites even exist for eSports live scores to let people track the competitions in real time if they are unable to watch. There are even fantasy eSports leagues similar to fantasy football, along with the large and growing scene of eSports betting and gambling.
So it's understandable why traditional media companies would want to capitalize on this growing trend just before it floods into the mainstream. Approximately 300 million people worldwide tune in to eSports today, and that number is growing rapidly. By 2020, that number will be closer to 500 million.
eSports Industry Analysis - The Future of the Competitive Gaming Market
Financial institutions are starting to take notice. Goldman Sachs valued eSports at $500 million in 2016 and expects the market will grow at 22% annually compounded over the next three years into a more than $1 billion opportunity.
And industry statistics are already backing this valuation and demonstrating the potential for massive earnings. To illustrate the market value, market growth, and potential earnings for eSports, consider Swedish media company Modern Times Group's $87 million acquisition of Turtle Entertainment, the holding company for ESL. YouTube has made its biggest eSports investment to date by signing a multiyear broadcasting deal with Faceit to stream the latter's Esports Championship Series. And the NBA will launch its own eSports league in 2018.
Of course, as with any growing phenomenon, the question becomes: How do advertisers capitalize? This is especially tricky for eSports because of its audience demographics, which is young, passionate, male-dominated, and digital-first. They live online and on social media, are avid ad-blockers, and don't watch traditional TV or respond to conventional advertising.
So what will the future of eSports look like? How high can it climb? Could it reach the mainstream popularity of baseball or football? How will advertisers be able to reach an audience that does its best to shield itself from advertising?
Business Insider Intelligence, Business Insider's premium research service, has compiled an unparalleled report on the eSports ecosystem that dissects the growing market for competitive gaming. This comprehensive, industry-defining report contains more than 30 charts and figures that forecast audience growth, average revenue per user, and revenue growth.
Companies and organizations mentioned in the report include: NFL, NBA, English Premier League, La Liga, Bundesliga, NHL, Paris Saint-Germain, Ligue 1, Ligue de Football, Twitch, Amazon, YouTube, Facebook, Twitter, ESPN, Electronic Arts, EA Sports, Valve, Riot Games, Activision Blizzard, ESL, Turtle Entertainment, Dreamhack, Modern Times Group, Turner Broadcasting, TBS Network, Vivendi, Canal Plus, Dailymotion, Disney, BAMTech, Intel, Coca Cola, Red Bull, HTC, Mikonet
Here are some eSports industry facts and statistics from the report:
In full, the report illuminates the business of eSports from four angles:
President Donald Trump's own lawyer, former New York City Mayor Rudy Giuliani, suggested on Sunday that the president hadn't always told truthful stories about alleged campaign finance felonies.
But, Giuliani argued, it's fine for him to do that because he was not under oath.
Giuliani, speaking to ABC's George Stephanopoulos, admitted that Trump's account of payments made to women who say they had sexual relationships with the president, had changed four or five times over the course of an investigation.
But, according to Giuliani, the evolving story owed to lapses in Trump's memory, which he characterized as common and expected.
Giuliani on ABC consistently attacked Michael Cohen, Trump's former lawyer who was recently sentenced to 3 years in prison after admitting to an array of crimes he committed while working for Trump, as a liar.
Cohen told the court that Trump directed him to pay off women who alleged sexual relationships with the president in what the judges saw as a campaign finance violation.
Cohen had previously denied making the payments, and then denied that Trump had anything to do with them. Trump also initially denied the payments, and has since offered differing accounts of how they were paid out.
As he was sentenced last week, Cohen said he had broken the law out of "blind loyalty" to Trump. Giuliani called that a lie, saying Cohen had taped conversations with Trump, which showed that the loyalty was not total.
Giuliani, suggesting that the US Attorney for the Southern District of New York had offered Cohen a reduced sentence in exchange for implicating Trump, said that Cohen was highly motivated to blame Trump for the crimes.
"There's a real motivation to sing like crazy, you've got to do a lot of singing to get out of the three years," said Giuliani. "He will say whatever he has to say, he's changed his story four or five times," he continued.
"So has the president," interjected Stephanopoulos.
"The president's not under oath," said Giuliani, without making an effort to deny that Trump had changed his story on the payments and often contradicted himself in factual terms.
"The president is doing the best he can to try and remember what happened," he continued, suggesting that Trump had told mistruths about the sequence of events involving Cohen's crimes.
But Giuliani chalked up Trump's shifting stories to a simple matter of flawed memory.
"He was the busiest man in the world. I was with him most of that time. I can't remember a lot of the stuff that goes on there," Giuliani continued.
Watch the full interview here.
Vladimir Putin launched an attack on rap music in Russia on Saturday, arguing that it will lead the the "degradation" of Russia if left unchecked.
Putin, after a summit with cultural leaders, asked them to do everything they could to bring rap culture to heel.
At the Council for Culture and Art in St Petersburg, Putin said: "Rap and other modern [forms of art] are rested upon three pillars: sex, drugs and protest," the Associated Press (AP) reported.
He said: "I am most worried about drugs. This is the way towards the degradation of a nation."
Putin seemed to concede that banning rap altogether was not a reasonable solution.
According to AP, he said: "If it is impossible to stop it, it should be taken over and navigated in a particular way."
One of the changes Putin suggested was the introduction of rules for using curse words in music and online.
But in the same address Putin said he'd recently been told that swearing was just a part of Russian culture by an expert he consulted.
He used this analogy to describe curse words: "We have all sorts of body parts, and it's not like we put them on display all the time," AP reported.
Musicians have clashed with the Russian state before, most famously the band Pussy Riot, who were arrested in 2012 (and many times since). The alleged poisoning of a Pussy Riot member in September 2018 has reignited the story.
Several rap music concerts in Russia have been shut down recently, and some performers have been arrested.
Rapper "Husky," who often raps about political corruption and police brutality, was jailed for 12 days for hooliganism after he performed a gig atop a car on November 21.
Rapper IC3PEAK — who has millions of video views online — has recently had concerts cancelled and been detained without a clear explanation, the BBC said.
Rapper Gone.Fludd said he had to cancel two rap concerts because of pressure from "every police agency you can imagine,"CNBC quoted him as saying.
Thanks to its positive message and witty one-liners, the story of "How the Grinch Stole Christmas" is a festive favourite.
However, not many people know that there is actually a prequel to the Dr Seuss tale, which is best known in its 2000 film format, with the lead role played by Jim Carrey.
The prequel to the story is called "Halloween is Grinch Night" and first aired as an animated TV special for Halloween in 1977.
You can watch it here:
Much like the Christmas tale, "Halloween is Grinch Night" tells the story of the Grinch terrorising the Whos of Whoville — only this time, his plot is foiled by a young boy named Euchariah rather than Cindy-Lou Who.
Although it is a prequel, Dr Seuss wrote it 20 years after "How the Grinch Stole Christmas," which was first published in 1957.
The Halloween story was so well received that it won the 1978 Primetime Emmy Award for Outstanding Children's Programme.
Dr Seuss wrote another tale of the Grinch for a further TV special, "The Grinch Grinches the Cat in the Hat," which premiered in May 1982 and also won an Emmy.
The latest adaptation of the best-known tale of the Grinch, how he stole Christmas, has this year been made into a 3D-animated feature film starring Benedict Cumberbatch as the voice of the Grinch.
JPMorgan Asset Management: Culling of mediocre products
In the last year and a half, Chris Willcox, president of JPMorgan Asset Management, oversaw a 25% reduction in the firm's actively-managed funds to weed out underperformers. While his firm has largely finished its product cutting spree, he says his other firms will probably look to the same. Willcox cautions though that the best way to avoid that action is to not launch poorly-conceived funds in the first place.
"The core responsibility of asset managers is to do as good a job as they can for their clients. That means selling things or not continuing to persist in things when they don’t have a deep belief in their ability to generate alpha," he said. "The hurdle should be very high to launch a new product, because you should think that you’re going to live with that product forever, or until your conviction expires."
Increased volatility in 2019 will force others to make the type of product decisions that JPMorgan tried to implement while markets were still up, Willcox said. To be sure, the firm saw a hit of hundreds of millions of dollars stemming from its reorganization, between revenue sacrifices and fee reductions, but Willcox said those losses are easier to absorb when the market environment is largely positive.
"The way you’ll really see people taking action will be if we’re to see a more significant and longer-lasting setback to asset prices," Willcox said. "At that point, that has such a direct impact on the economics of asset managers, that’s when they get their arms twisted to take a bit more action. You can see the start of it with the bit of volatility this year. I’ve seen a number of announcements from people on the actions they’re intending to take, including headcount."
Schroder Adveq: New secondaries strategy
One niche strategy within the illiquid alternatives space is expanding and offering more opportunities to investors who don't want to hold onto long-term investments, according to Ethan Vogelhut, the Americas head of buyout investments for New York-based private equity firm Schroder Adveq.
Secondaries – the buying and selling of existing investor stakes, typically in funds – has become popular strategy since the global financial crisis, as alternatives firms seek ways to extend their investments with more money. Secondaries fundraising hit a record last year at $46.5 billion, according to research provider Preqin.
Now, buying and selling co-investments across asset classes is "the next new thing" in secondaries, says Vogelhut. Like secondaries, co-investments – where fund investors make additional investments in individual companies alongside the fund – are picking up steam, with a record $11.1 billion raised last year, per Preqin.
As the deals get older, some investors want liquidity, or they may not be able to fund follow-on capital for further investments, Vogelhut said. In one deal, for example, a private equity partner's investor needed capital for an unrelated investment. To raise money, that investor wanted to sell both a fund stake and some co-investments. Schroder Adveq bought out the fund interest and the co-investment positions.
More of these types of deals will be sourced by the fund's existing investors, secondary firms, and even the fund managers, Vogelhut said.
Flat World Partners: Better exits for early-stage impact investors
Impact investors – firms aiming to make money while doing good – will see better opportunities to sell their investments in 2019 than in the past, said Anna-Marie Wascher, chief executive officer of New York-based impact investing firm Flat World Partners.
As major private equity firms raise billions for impact investing funds, they'll provide better exit opportunities for earlier-stage investors like Flat World Partners, which invests in companies with $5 million to $15 million in revenue, like biodegradable packaging.
TPG is raising up to $3.5 billion for its second impact investing fund, while KKR is raising at least $1 billion for its inaugural fund, sources said.
"That means they have minimum tickets they can write and certain valuations they’re trying to target, which inevitably gives a lot of lift to companies in earlier-stage investing, with emerging markets being a huge piece of that," Wascher said.
While family offices and angel investors typically fund series A and B funding rounds for impact-focused startups in emerging markets, Wascher said there has been a gap in later rounds of funding — those that come before a company is large enough to go public or sell to another company.
Non-private equity players are also increasingly more interested in impact investments. As consumer-focused conglomerates such as Mars, Kraft Heinz, and Unilever expand globally, they're acquiring local companies – another expanding exit opportunity for firms like Flat World Partners.
UBS Asset Management: Active managers build their case in volatility
UBS Asset Management oversees both passive and active products, which the firm's head, Suni Harford, says makes her an unbiased voice in the ongoing debate about the strategies.
While investors have long been fleeing active funds in favor of passive products, she said the calculation is changing.
As market volatility pushes performance of index-tied passive products down, Harford said the active managers who can outperform matter more than ever.
She gave the example of a passive portfolio that returned 5% this year, compared with an active manager that returned 6%.
"That extra 100 basis points from active – that’s a big difference," she said, contrasting an active manager's outperformance when indices are up significantly. "An extra 100 basis points on 23%? Not so much."
With more market volatility in the forecast for 2019, the active manager's performance difference could be even more pronounced next year.
"I do think we’re going to have a balancing there and you’re going to see that as an opportunity," Harford says.
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If you want an idea of what types of innovative products are going to burst into the mainstream — and want to give some financial support to make them a reality — Kickstarter's tech section is a great place to look. When it comes to tech, backers especially gravitate toward smartwatches, smart home and kitchen devices, and headphones.
While backing a Kickstarter project has potentially large payoffs, it's not without risk. Some projects are never fully produced or released, and others shut down after a few years, leaving backers with unexplained holes in their wallets or products with useless, outdated software.
Pono Music, Neil Young's studio quality MP3 player, is one of the top-funded projects in Kickstarter history, with more than $6 million pledged by 18,220 backers, but it was discontinued in 2017. Meanwhile, smartwatch startup Pebble racked up more than $43 million in funding for three of its projects before it filed for insolvency at the end of 2016. Its assets were ultimately acquired by Fitbit.
We've left such products out in this round-up to spare you that frustration. Each of these 25 tech projects will go down in Kickstarter history for raising more than $1 million, and they're actually worth your money.
Blink — $1.069 million pledged by 6,879 backers
Before Blink became an Amazon company, it was a Kickstarter project. Its home security systems are affordable and easy to set up.
Steadicam Volt — $1.112 million pledged by 6,203 backers
Steadicam, which makes the camera stabilizers used in Hollywood movies, brings its professional technology to consumers with its a handheld stabilizer for smart phones and action cameras.
Meater — $1.251 million pledged by 9,737 backers
The first wireless meat thermometer helps you cook the perfect steak and chicken every time.
See the rest of the story at Business Insider
Australian police are investigating a "potential threat" aboard an Australian budget flight which forced it to turn back after an hour in the air.
New South Wales Police told Business Insider that officers were called to Sydney Airport at 8:30 p.m. local time on Monday night.
They were responding to what officers call a "potential threat" on Tigerair flight TT271 which was heading to Melbourne, a journey of around one hour and 35 minutes.
The Airbus A320 aircraft turned around mid-air and landed back in Sydney an hour after taking off, NSW police said.
A police spokesman said: "A domestic flight which left at about 7 p.m. bound to Melbourne became aware of a potential threat and as a precautionary measure the plane was turned around an landed at Sydney."
Officers said passengers were kept on the runway for several hours after the plane landed, but were allowed out around 11:30 p.m. local time. Officers said there were no arrests or injuries.
A Tigerair spokesperson told Daily Mail Australia:"The Captain made the decision to return to Sydney following an incident onboard."
"In line with standard procedures, the Australian Federal Police met the aircraft on arrival."
Business Insider approached Tigerair for comment, but has yet to receive a response.
Superheroes are on TV viewers' minds lately, as both DC Universe's "Titans" and Netflix's recently canceled "Daredevil" made this week's list of most in-demand shows.
Every week, Parrot Analytics provides Business Insider with a list of the seven most "in-demand" TV shows on streaming services. The data is based on "demand expressions," the globally standardized TV demand measurement unit from Parrot Analytics. Audience demand reflects the desire, engagement, and viewership weighted by importance, so a stream or download is a higher expression of demand than a "like" or comment on social media.
Other streaming shows this week include Amazon's "The Marvelous Mrs. Maisel," which debuted its second season last week, and "Stranger Things," which got a big boost from last week thanks to a teaser video for its upcoming third season that Netflix recently dropped.
Below are this week's seven most popular shows on Netflix and other streaming services:
7. "The Ranch" (Netflix)
Average demand expressions: 21,774,410
Description:"Being a pro athlete didn't pan out for Colt. Now he's helping his dad and brother keep the ranch afloat, and figuring out how he fits into the family."
Rotten Tomatoes critic score (overall): 63%
What critics said (season 2): "The Ranch’s cis-white-male orthodoxy—and its stridency about that—has a nasty tang. The show’s once-affable rudeness, its gentle, blockheaded rebuke of pansy P.C.-ism, is now edged with something darker."— Richard Lawson, Vanity Fair
Season 3 premiered on Netflix December 7.
6. "Marvel's Daredevil" (Netflix)
Average demand expressions: 31,213,212
Description: "Blinded as a young boy, Matt Murdock fights injustice by day as a lawyer and by night as the Super Hero Daredevil in Hell's Kitchen, New York City."
Rotten Tomatoes critic score (Season 3): 96%
What critics said: "There's a linear flow to it all that is focused and efficient. That doesn't mean the show couldn't lose steam like so many other promising yet still flawed Marvel series on Netflix. But so far, so good."— Brandon Katz, Observer
Season 3 premiered on Netflix October 19. The show was recently canceled.
5. "Narcos: Mexico" (Netflix)
Average demand expressions: 32,529,755
Netflix description: "Witness the birth of the Mexican drug war in the 1980s as a gritty new 'Narcos' saga chronicles the true story of the Guadalajara cartel's ascent."
Rotten Tomatoes critic score (Season 1): 85%
What critics said: "Wait a minute, is the narrator the one and only Scoot McNairy?!?! Oh, why yes it is. I was already all in, but now I'm ALL IN."— Derek Lawrence, Entertainment Weekly
Season 1 premiered on Netflix November 16.
See the rest of the story at Business Insider
Goldman Sachs shares were lower early Monday morning, down 2.65%, after Malaysia filed criminal charges against the bank and two if its former executives over what the country called "grave violations" of its securities law relating to the $6.5 billion sovereign wealth fund 1MDB.
Goldman made about $600 million in fees after raising money for the fund, which is the subject of corruption and money-laundering investigations in at least six countries. Malaysia on Monday said $2.7 billion of the proceeds of three 1MDB bonds was misappropriated.
Monday's selling has Goldman shares down almost 40% from their March peak of $275.31, at $168.20, and trading at their lowest level since October 2016, as a flattening yield curve and trade-war tensions have weighed.
Earlier this month, portions of the so-called yield curve, which compares short- and long-term bond yields, inverted for the first time since the financial crisis. That highlighted investor concerns that the US economy is in the final stages of its expansion. A flattening yield curve hurts banks' profitability as it shrinks the spread between the rate at which banks borrow and the rate at which they lend.
In addition to the flattening yield curve, the recent stock-market volatility has been problematic for the investment banks, hurting their trading revenue as well as their fixed income and investment banking businesses. Citigroup and JPMorgan are among the banks that have already warned on the current environment.
Goldman Sachs was down 32.18% this year through Friday.
Trista Kelley contributed to this report.