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How the Internet of Things will transform consumerism, enterprises, and governments over the next five years

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  • The Internet of Things is fueling the data-based economy and bridging the divide between physical and digital worlds.
  • Consumers, companies, and governments will install more than 40 billion IoT devices worldwide through 2023.
  • The next five years will mark a pivotal transformation in how companies and jurisdictions operate, and how consumers live.

Being successful in the digital age doesn’t just require knowing the latest buzzwords; it means identifying the transformational trends – and where they’re heading – before they ever heat up.

IoT Forecast BookTake the Internet of Things (IoT), for example, which now receives not only daily tech news coverage with each new device launch, but also hefty investments from global organizations ushering in worldwide adoption. By 2023, consumers, companies, and governments will install more than 40 billion IoT devices globally. And it’s not just the ones you hear about all the time, like smart speakers and connected cars.

To successfully navigate this changing landscape, individuals and organizations must understand the full extent and functionality of the “Things” included in this network, the key drivers of each market segment, and how it all relates to the work they do every day.

Business Insider Intelligence, Business Insider’s premium research service, has forecasted the start of the IoT’s global proliferation in The IoT Forecast Book 2018— and the next five years will be transformational for consumers, enterprises, and governments.

  • Consumer IoT: In the US alone, the number of smart home devices is estimated to surpass 1 billion by 2023, with consumers dishing out about $725 per household — a total of over $90 billion in spending on IoT solutions.
  • Enterprise IoT: Comprising the most mature segment of the IoT, companies will continue pouring billions of dollars into connected devices and automation. By 2023, the total industrial robotic system installed base will approach 6 million worldwide, while annual spending on manufacturing IoT solutions will reach about $450 billion.
  • Government IoT: Governments globally are ushering in IoT devices to spur the development of smart cities, which would be equipped with innovations like connected cameras, smart street lights, and connected meters to provide a real-time view of traffic, utilities usage, crime, and environmental factors. Annual investment in this area is expected to reach nearly $900 billion by 2023.

Want to Learn More?

People, companies, and organizations all over the world are racing to adopt the latest IoT solutions and prevent growing pains amidst a technological transformation. The IoT Forecast Book 2018 from Business Insider Intelligence is a detailed three-part slide deck outlining the most important trends impacting consumer, enterprise, and government IoT — and the key drivers propelling each segment forward.

Representing thousands of hours of exhaustive research, our multipart forecast books are considered must-reads by thousands of highly successful business professionals. These informative slide decks are packed with charts and statistics outlining the most influential trends on the leading edge of your industry. Keep them for reference or drop the most valuable data into your own presentations to share with your teams.

Whether you’re newly interested in a topic or you already consider yourself a subject matter expert, The IoT Forecast Book 2018 can provide you with the actionable insights you need to make better decisions.

 

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SHUTDOWN STANDSTILL: The government shutdown enters a record 22nd day as Trump, Democrats continue to battle over the border wall and 800,000 workers go without pay

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longest government shutdown 2x1

  • The government shutdown entered day 22 at midnight Eastern Time, setting the record for the longest shutdown of the modern budgeting era.
  • The shutdown surpassed the 21-day shutdown of 1995 and 1996 as the longest ever.
  • The shutdown does not appear to be close to ending as President Donald Trump and Democrats remain dug in to their positions on the president's request for $5 billion to build a US-Mexico border wall.
  • The shutdown has also left 800,000 federal workers with no paychecks.
  • Airport security, food inspections, mortgage services, national parks, and more are being affected by the shutdown.

The partial shutdown of the federal government officially became the longest of the modern budgeting era on Saturday, as it entered day 22 with no end in sight.

By making it into the fourth week, the shutdown surpassed the 21-day funding lapse in 1995 and 1996 as the longest since the modern budgeting system was implemented in 1974. Where the new bar will end up remains to be seen as President Donald Trump and Democrats appear to be nowhere close to resolving the standoff over money for the president's long-promised wall along the US-Mexico border, despite constant discussions and posturing.

The shutdown has forced 800,000 federal workers and millions of federal contract employees to go without pay for three weeks, and disrupted government services across the country.

Well, how did we get here?

While the fight probably started as soon as Trump declared that he would build a wall along the US-Mexico border if elected in 2016, the shutdown officially started on December 22 — after Trump refused to support a bill that extended funding for some government agencies through February 8.

The Senate had passed the clean funding bill just days before federal funding expired, and Trump was poised to sign off on the measure before pushback from conservative TV pundits, such as Ann Coulter, swayed the president. Trump suddenly declared that the clean funding bill was not agreeable, leading to a standoff with Democrats.

The two sides barely talked over the holiday break, and talks in the new year have been acrimonious at best. In fact, Trump has even gone so far as to suggest that he could try and declare a national emergency in order to get funds for the wall, bypassing Congress altogether.

trump pelosi

The most recent round of negotiations ended when Trump stormed out of the Situation Room after House Speaker Nancy Pelosi flatly refused to fund the president's wall, even if the government was reopened. According to Senate Minority Leader Chuck Schumer, Trump slammed the table on his way out, but the White House disputed the accusation.

Trump's tweet after the encounter on Wednesday probably serves as a neat summation of the state of affairs.

"Just left a meeting with Chuck and Nancy, a total waste of time," Trump said. "I asked what is going to happen in 30 days if I quickly open things up, are you going to approve Border Security which includes a Wall or Steel Barrier? Nancy said, NO. I said bye-bye, nothing else works!"

Once in a lifetime

The shutdown marks the 21st time since the budget process was overhauled in 1974 that the federal government has experienced a funding lapse.

The previous shutdowns have averaged eight days, but the current shutdown will push that average up to at least 8 1/2 days. Shutdowns have also been getting longer recently. Excluding the nine-hour shutdown in February 2018 caused by Sen. Rand Paul, shutdowns since 1990 have averaged 11 days.

The current government shutdown is also only the 10th shutdown to have workers on furlough, with the practice becoming much more common in recent years. Every shutdown since 1990, save the Rand Paul lapse, has forced workers to go on furlough.

Additionally, Trump is the only president to place federal employees on furlough while one party controlled both chambers of Congress — which Republicans did during both the January 2018 shutdown and the current one.

The current shutdown is also the only funding lapse during which a chamber of Congress changed party control. Democrats took over the House on January 3.

Gov shutdowns 22 DAYS

The latest shutdown also marks a total of three funding lapses during Trump's presidency, giving him the third most of any president, behind former President Jimmy Carter's five and former President Ronald Reagan's eight. Trump also ranks fourth in total shutdown days for modern presidents, behind Carter's 67 days and the 28-day mark shared by former President Bill Clinton and Reagan.

And 2018 became just the second year of the modern era to have three funding lapses, tying 1977's record.

Gov shutdowns by President 26 DAYS

Letting the days go by

As the shutdown drags on, the effects from the government closures are becoming more and more noticeable.

The shutdown does not affect all agencies because Congress passed bills to fund some departments, such as the departments of Defense and Energy in September, but there are many departments that are closed, including the departments of Agriculture, Commerce, Justice, Homeland Security, the Interior, State, Transportation, and the Housing and Urban Development.

Some 420,000 workers at those agencies have been deemed "essential" and therefore are continuing to work without pay during the closure. The other 380,000 have been furloughed, or barred from coming into work and left without pay.

The essential workers will immediately receive back pay when the shutdown ends, and Congress passed a bill on Friday that would give the furloughed workers back pay once the government reopens. Trump still needs to sign the bill.

In addition to the lost paychecks, there is a slew of other problems caused by the shutdown, including:

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NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

THE IDENTITY VERIFICATION IN BANKING REPORT: How banks should use new authentication methods to boost conversions and keep their customers loyal

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Large FIs tech investments NEWThis 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.

The way incumbent banks onboard and verify the identities of their customers online is inconvenient and insecure, resulting in lowered customer satisfaction and loyalty, and security breaches leading to compensation payouts and legal costs.

It’s a lose-lose situation, as consumers become disgruntled and banks lose business. The problem stems from the very strict verification standards and high noncompliance fines that banks are subject to, which have led them to prioritize stringency over user experience in verification. At the same time, this approach doesn't gain banks much, since the verification methods they use to remain compliant can actually end up compromising customers' personal data.

But banks can't afford to prioritize stringent verification at the cost of user experience anymore. Onboarding and verification standards are increasingly being set by more tech-savvy players within and outside their industry, like fintechs and e-retailers. If banks want to keep customers loyal, they have to start innovating in this area. The trick is to streamline verification for clients without compromising accuracy. If banks manage to do this, the result will be happier and more loyal customers; higher client retention and revenue; and less spending on redundant checks, compensation for breaches, and regulatory fines.

The long-term opportunity such innovation presents is even bigger. Banks are already experts in vouching for people’s identities, and because they’re held to such tight verification standards, their testimonies are universally trusted. So, if banks figure out how to successfully digitize customer identification, this could help them not only boost revenue and cut costs, but secure a place for themselves in an emerging platform economy, where online identities will be key to carrying out transactions. 

Here are some of the key takeaways from the report:

  • The strict verification standards that banks are held to have led them to create onboarding and login processes that are painful for clients. Plus, the verification methods they use to remain compliant can actually end up putting customers' personal data at risk. This leaves banks with dented customer satisfaction, as well as security breaches and legal costs.
  • Several factors are now pushing banks to attempt to remedy the situation, including a tougher regulatory environment and increasing competition from agile startups and tech giants like Google, Amazon, and Facebook, where speedy onboarding and intuitive service is a given.
  • The trick is to streamline verification for clients without compromising accuracy, something several emerging technologies promise to deliver, including biometrics, optical character recognition (OCR) technology, cryptography, secure video links, and blockchain and distributed ledger technology (DLT). 
  • The long-term opportunity such innovation presents is even bigger. Banks are already experts in vouching for people’s identities, so if they were to figure out how to successfully digitize customer identification, this could help them secure a valued place, and relevance, in a modernizing economy.

In full, the report:

  • Looks at why identity verification is so integral to banking, and why it's becoming a problem for banks.
  • Outlines the biggest drivers pushing banks to revamp their verification methods.
  • Gives an overview of the technologies, both new and established but repurposed, that are enabling banks to bring their verification methods into the digital age.
  • Discusses what next steps have to happen to bring about meaningful change in the identity verification space, and how banks can capitalize on their existing strengths to make such shifts happen.

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How crowdsourcing shipping through technology will make last mile delivery cheaper (AMZN)

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The proliferation of e-commerce has transformed free shipping and same-day delivery from perks to table stakes — and retailers are paying the price. With daily parcel volumes surging and customers increasingly unlikely to foot the bill, companies have been tasked with finding new ways to offer speedy shipments without eating costs.

last mile share of delivery costs

Among the most popular strategies is crowdsourced delivery, the Uber model helping online shops solve the most expensive part of shipping: the last mile problem. Like Uber and other ride hailing apps, a number of crowdsourced delivery solutions have been cropping up over the past few years to ease these pains by connecting customers directly with local couriers. And it’s not just startups either; Amazon, the world's undisputed e-commerce leader, is investing big in crowdsourcing deliveries.

How much does Amazon spend on shipping?

“Free shipping” comes at a high cost. According to Amazon’s 2017 annual report, the company spent $21.7 billion in shipping last year — a number that includes sortation, delivery center, and transportation costs. This is nearly double the $11.5 billion it spent on shipping in 2015. And as the expectation of free, same-day delivery becomes the standard for online consumers, even giants like Amazon need to seek alternative solutions.

The crowdsourcing solution to the last mile problem

The last mile of delivery is the most expensive and time-consuming part of fulfillment for retailers and their logistics partners, comprising 53% of the overall cost of shipment. Crowdsourcing takes the onus off of companies, instead connecting customers directly with local couriers to expedite deliveries and cut down on costs.

The crowdsourcing model is already popular among meal and grocery delivery and, seeing the success of startups like Uber, Airbnb, and GrubHub, e-commerce retailers are now eyeing it to fulfill their online orders. As a result, general use crowdsourced delivery companies have emerged to meet this need.

Here’s a look at how three companies - Amazon Flex, Hitch, and Deliv - are trying their hand in the shipping industry — and what’s coming up next.

Amazon Flex - Deliver with Amazon

Launched in 2015 and piloted in Seattle, Amazon Flex lets customers order and receive packages through its on-demand delivery service, Prime Now, which guarantees free one- and two-hour deliveries. For Prime customers with already high expectations for prompt delivery, not much changes; the service primarily markets itself as a side gig for couriers.

Amazon Flex

For the most part, the app is only open to people who have cars (except in select regions allowing commercial bicycles), so those who want to make deliveries on bike or foot might have to look elsewhere. The service is particularly attractive to rideshare drivers who may want to make extra money without having strangers or potentially disruptive passengers in their cars. Anyone 21 or older with a smartphone, car, and valid driver’s license can log into the app and schedule their availability to start making deliveries.

Shipments can originate at an Amazon location, store, or restaurant. Drivers use their smartphone camera and GPS to scan packages and get turn-by-turn directions to their destinations. As long as they deliver the package within the allotted time frame, couriers make $18-25 an hour — all through a cashless transfer to their digital wallet on the app.

Learn more about Amazon Flex.

Hitch - Crowdsourced Delivery

Hitch

Founded in 2014, Tampa-based startup Hitch gives consumers, “the choice to be Shippers, Travelers, or both.” The platform touts “turning your commute into cash” by pairing up shippers (the people placing the orders) with travelers (the local couriers) who are already heading in the direction of the delivery.

Users create profiles on the app to join the socially vetted community, where they can then rate one another and verify their accounts by adding bank account information. Shippers put out requests to have packages delivered, and Travelers can input travel information to see if there are any available deliveries along their route.

The app uses GPS to find the quickest route and provide tracking, as well as camera functionality to show proof of delivery. All payments are exchanged through Hitch’s third-party payment processing partner, Stripe.

Learn more about Hitch.

Deliv - Same-Day Delivery

Deliv is a general use last mile solution offering same-day service to over 4,000 omnichannel businesses in 35 cities across the country. Some of its biggest partners include Macy’s, Best Buy, Walmart, and IBM.

Deliv Fresh

Rather than just fulfilling ad hoc deliveries for consumers, Deliv seeks to be a long-term business partner solving companies’ last mile problem — evidenced by its breakdown into Deliv Small Business, Deliv Enterprise, and Deliv Fresh for groceries. It offers SLAs, performance metrics, and integrations into business’ online checkout processes.

And the company is growing. In February, 2018, it launched Deliv Rx to extend these same-day services to patients, doctors, pharmacies, hospitals, labs, and clinics. Deliveries can include things like prescriptions, x-rays, medical equipment, documents, and even pet medicine.

Learn more about Deliv.

Growth & Future of Crowdsource Shipping

Want to learn more? The Crowdsourced Delivery Report from Business Insider Intelligence examines the rise of the crowdsourcing model in the last mile delivery space.

In this report, we detail the top use cases for crowdsourced deliveries, as well as the benefits and challenges of using this model for delivering online orders. We also provide insights into how to optimize crowdsourced deliveries for e-commerce and, lastly, we explain the long-term potential of startups appearing in the crowdsourced delivery space as automation plays a bigger role.

Here are some of the key takeaways from the report:

  • Retailers are looking for ways to deliver goods faster to consumers' doorsteps to stave off Amazon's threat and meet customer expectations.
  • To accomplish that, retailers and delivery providers are zeroing in on the "last mile" of fulfillment, the most expensive and time-consuming part of the delivery process, which is when a package reaches the customer's address.
  • Startups like Postmates, Instacart, and others are looking to disrupt the last mile delivery space by leveraging the "Uber model," and connecting businesses to non-professional couriers who can deliver goods instantly.
  • Crowdsourcing can drastically speed up deliveries in urban areas, where there is a high density of deliveries and potential couriers to be matched.
  • However, as delivery volumes increase, crowdsourced delivery startups will need to further optimize their deliveries to improve cost efficiencies.
  • Many of the deliveries these startups perform today will likely be automated in the future, raising the possibility that these startups may eventually look to incorporate new technologies like delivery drones or self-driving delivery vehicles.

In full, the report:

  • Details the factors driving investment and growth in crowdsourced delivery startups.
  • Examines the benefits and drawbacks of using crowdsourcing to deliver online orders.
  • Explains how crowdsourced delivery startups can improve their cost efficiencies to tackle greater delivery volumes.
  • Explores the role that crowdsourcing will play in the future of delivery once automated delivery options, like drones and robots, arrive.

Subscribe to an All-Access pass to Business Insider Intelligence and gain immediate access to:

This report and more than 250 other expertly researched reports
Access to all future reports and daily newsletters
Forecasts of new and emerging technologies in your industry
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By the end of 2019, Waymo, Uber, and GM all plan to have fleets of autonomous cars providing on-demand rides — here's how automakers can compete

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Mobility Market

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.

Automakers are on the verge of a prolonged period of rapid change to the way they do business, thanks to the combined disruptive forces of growing on-demand mobility services and self-driving cars, which will start to come to market in the next couple of years.

By the end of 2019, Google spinoff Waymo, Uber, and GM all plan to have fleets of autonomous cars deployed in various US cities to provide on-demand rides for passengers. By eliminating the cost of the driver, these rides are expected to be far cheaper than typical Uber or Lyft rides, and even cheaper than owning a car for personal transportation.

Many industry experts are predicting that such cheap on-demand autonomous rides service will result in a long-term decline in car ownership rates — PwC predicts that the total number of cars on the road in the US and EU will drop from 556 million last year to 416 million in 2030.

This decline in car ownership represents an enormous threat to automakers’ traditional business models, forcing them to find alternative revenue sources. Many of these automakers, including GM, Ford, and Daimler, have plans to launch their own on-demand ride-hailing services with fleets of self-driving cars they will manufacture, potentially giving them a new stream of recurring revenue. This could set them up to take a sizeable share of a market that is expected to be worth trillions by 2030.

However, competing in the on-demand mobility market will pit legacy automakers against ride-hailing services from startups and tech giants that have far greater experience in acquiring and engaging consumers through digital channels. To succeed in what will likely be a hyper-competitive market for urban ride-hailing, automakers will have to foster new skill sets in their organizations, and transform from companies that primarily produce vehicles to ones that also manage vehicle fleets and customer relationships.

That will entail competing with startups and tech giants for software development and data science talent, as well as reforming innovation processes to keep pace with digital trendsetters. Automakers will also need to create unique mobile app and in-car experiences to lure customers. Finally, these automakers will face many overall barriers in the market, including convincing consumers that self-driving cars are safe, and dealing with a complex and evolving regulatory landscape.

In a new report, Business Insider Intelligence, Business Insider's premium research service, delves into the future of the on-demand mobility space, focusing on how automakers will use fleets of self-driving vehicles to break into an emerging industry that's been dominated thus far by startups like Uber and Lyft. We examine how the advent of autonomous vehicles will reshape urban transportation, and the impact it will have on traditional automakers. We then detail how automakers can leverage their core strengths to create new revenue sources with autonomous mobility services, and explore the key areas they'll need to gain new skills and capabilities in to compete with mobility startups and tech giants that are also eyeing this opportunity. 

Here are some of the key takeaways:

  • The low cost of autonomous taxis will eventually lead car ownership rates among urban consumers to decline sharply, putting automakers’ traditional business models at risk.
  • Many automakers plan to launch their own autonomous ride-hailing services with the self-driving cars they're developing to replace losses from declining car sales, putting them in direct competition with mobility startups and tech giants looking to launch similar services.
  • Additionally, automakers plan to maximize utilization of their autonomous on-demand vehicles by performing last-mile deliveries, which will force them to compete with a variety of players in the parcel logistics industry.
  • Regulatory pressures could also push automakers to consider alternative mobility services besides on-demand taxis, such as autonomous on-demand shuttle or bus services.
  • Providing these types of services will force automakers to make drastic changes to their organizations to acquire new talent and skills, and not all automakers will succeed at that.

In full, the report:

  • Forecasts the growth of autonomous on-demand ride-hailing services in the US.
  • Examines the cost benefits of such services for consumers, and how they will reshape consumers’ transportation habits.
  • Details the different avenues for automakers to monetize the growth of autonomous ride-hailing.
  • Provides an overview of the various challenges that all players in the self-driving car space will need to overcome to monetize their investments in these new technologies in the coming years.
  • Explains the key factors that will be critical for automakers to succeed in this emerging market.
  • Offers examples of how automakers can differentiate their apps and services from competitors’.

Subscribe to an All-Access pass to Business Insider Intelligence and gain immediate access to:

This report and more than 250 other expertly researched reports
Access to all future reports and daily newsletters
Forecasts of new and emerging technologies in your industry
And more!
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RANKED: The 19 cheapest holiday destinations in the world right now

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Hoi An Vietnam

  • Post Office Travel Money's annual Holiday Money report has been released.
  • The report's Worldwide Holiday Costs Barometer compares the price of eight tourist staple items across 42 resorts and cities worldwide.
  • We've rounded up the 19 cheapest places to take a holiday in 2019, according to the ranking.

With half of January still to get through, chances are the thought of booking a trip to sunnier climes is looking pretty good right now — but purse strings may still be tight after the holiday season, too.

Luckily, Post Office Travel Money's annual Holiday Money report has just been released — and it reveals the destinations around the world where you'll get the best bang for your buck in 2019.

Based on data from national and regional tourist boards and specialist tour operators, the report's annual Worldwide Holiday Costs Barometer compares the costs of eight tourist staple items — a meal for two, a cup of coffee, a bottle of beer, a Coca-Cola, a glass of wine, a bottle of water, suncream, and insect repellant — across 42 resorts and cities worldwide.

The ranking then calculates a total cost for each destination to figure out which is the cheapest for a holiday.

We've rounded up the 19 most wallet-friendly destinations on the list.

From Tokyo to Turkey, scroll down to see where you should jet off to this year.

19. Penang, Malaysia — $107.89

Cup of filter coffee at a café/bar: $3.47

Bottle of local beer at a café/bar: $6.83

Bottle/can of Coca-Cola/Pepsi at a café/bar: $1.77

Glass of wine (175ml) at a café/bar: $7.60

1.5l bottle of mineral water at a supermarket: $0.76

Suncream at a supermarket: $14.87

Insect repellent at a supermarket: $3.01

Three-course evening meal for two (including bottle of house wine): $69.58



18. Budapest, Hungary — $103.36

Cup of filter coffee at a café/bar: $2.84

Bottle of local beer at a café/bar: $2.84

Bottle/can of Coca-Cola/Pepsi at a café/bar: $2.45

Glass of wine (175ml) at a café/bar: $5.21

1.5l bottle of mineral water at a supermarket: $0.56

Suncream at a supermarket: $7.55

Insect repellent at a supermarket: $6.80

Three-course evening meal for two (including bottle of house wine): $75.11



17. Phuket, Thailand — $103.11

Cup of filter coffee at a café/bar: $1.94

Bottle of local beer at a café/bar: $2.42

Bottle/can of Coca-Cola/Pepsi at a café/bar: $1.14

Glass of wine (175ml) at a café/bar: $5.82

1.5l bottle of mineral water at a supermarket: $0.65

Suncream at a supermarket: $5.98

Insect repellent at a supermarket: $3.24

Three-course evening meal for two (including bottle of house wine): $81.92



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Second Brexit referendum campaign fear it's 'game over' unless Corbyn backs a People's Vote

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Jeremy Corbyn Michel Barnier

  • Sources within the People's Vote campaign say they are well short of the number of MPs they need to force a second Brexit referendum.
  • Their estimates suggest they have just 175 out of 650 MPs willing to back a second vote.
  • They are pinning their hopes on Labour leader Jeremy Corbyn to get behind another poll.
  • People's Vote insiders say it is "game over" unless Corbyn shifts soon.

LONDON — Sources within the campaign for another Brexit referendum have told Business Insider that they must get Jeremy Corbyn on board within the next few weeks or it is "game over" for the prospect of forcing a second vote.

Sources within the People's Vote campaign said they estimate there are currently just 175 out of the House of Commons' 650 MPs who are willing to support another referendum.

This includes 116 Labour MPs, some of whom are shadow Cabinet ministers. But crucially, not the Labour leader.

"We need to move Jeremy Corbyn or it's game over," one of the People's Vote leading figures told Business Insider.

Although the Labour Party is officially still committed to leaving open the prospect of a second referendum, so far Corbyn has been reluctant to actively support one.

The Labour leader travelled to Yorkshire on Thursday to set out Labour's position on Brexit. However, despite the best hopes of pro-Europeans in his party, there was little sign of him shifting Labour's position on the issue.

Instead Corbyn simply repeated the party's policy of forcing a snap general election, winning it, and then going ahead with Brexit on terms negotiated by a newly-elected Labour government.

With polling suggesting the vast majority of Labour's members are against Brexit and behind a new referendum, Corbyn's reluctance is incredibly frustrating for Labour voices within the People's Vote campaign.

Tom Baldwin, who previously worked for Ed Miliband and now heads up the People's Vote communication operation, told a campaign rally in London on Friday that the party had received thousands of letters calling for Labour to commit to stopping Brexit.

The Brexit dividend has been for the Royal Mail with all the post going to Corbyn.

Baldwin claimed that Labour's National Policy Forum has received over 13,000 emails and letters urging Corbyn to oppose Brexit. People's Vote campaigners say this is more than the party ever received on the Iraq war.

A Labour source told BI that the comparison with Iraq was "spurious," but the issue is undoubtedly sparking huge disagreements in the party. A Labour delegate involved in putting together the party's conference motion on Brexit told the same rally: "The Brexit dividend has been for the Royal Mail with all the post going to Corbyn."

However, despite growing pressure, Corbyn — guided by internal polling indicating little appetite for another referendum in its target constituencies — is showing no signs of declaring support for another public vote.

READ MORE: Inside the People's Vote campaign's final push to stop Brexit

Figures in the People's Vote campaign say that while some shadow ministers privately support reversing Brexit, the Shadow Cabinet is tightly-controlled by Corbyn's office, which contains Eurosceptics and has generally been unwilling to talk to anti-Brexit groups. 

"We tried Lansman (Jon, founder of Momentum), nothing. McDonnell (John, Shadow Chancellor), nothing. Abbott (Diane, Shadow Home Secretary), nothing," a senior anti-Brexit campaigner told BI this week.

"There are people around Corbyn who think Brexit will be good for workers. They genuinely believe that."

Fears that Corbyn will back May's deal

Jeremy Corbyn John McDonnell

There is another reason why there is a growing sense of urgency among People's Vote campaigners. Not only is time running out for a new vote, but it could be a matter of time before May produces a deal that Corbyn can support.

One school of thought among anti-Brexit campaigners and Labour MPs is that Corbyn will ultimately tell his MPs to back May's deal if a permanent customs union is added.

They may be right. As one senior aide to Corbyn admitted to BI last month: "I could see a scenario where May comes back with a slightly softer deal and we say 'well that is the best we can do. That nearly meets our objectives' and then we will try to renegotiate in office."

Corbyn's office deny any plans to back May's deal however, with one senior source telling BI last week that suggestions to the contrary "have no basis in fact."

Despite this, May holds out hope that Labour backbenchers will move in her favour and this week held talks with those MPs who the government believes are the most likely to be persuaded to back her deal. The prime minister tried to woo them with guarantees on workers' and environmental rights, while Channel 4 reported on Thursday that a permanent customs union also came up in conversation. 

BI has also learned that at least one government whip suggested the idea of a permanent customs union — a key plank of Labour Brexit policy — being added to the political declaration on the future UK-EU relationship as a means of winning opposition votes for the deal.

Intriguingly, one Labour MP told BI that a government whip had asked them whether "[the push for a customs union] would be better to come from the government or parliament," suggesting that government had an eye on customs union amendments for legislation like the Trade Bill.

Norway calling

Norway

Corbyn isn't the only hurdle, however. Based on the People's Vote campaign's current estimates, there are still around 140 Labour MPs who don't support another referendum, with many already signed up to rival plans.

A People's Vote insider admitted that the "Norway Plus" soft Brexit option — chastised in People's Vote material — has "huge surge potential" in that many tens of MPs could come out for it as the March 29 cliff-edge approaches. 

Under this model, the UK would effectively remain in the single market and form a new customs union with the EU. Owen Jones, Guardian columnist and influential voice on the left-wing of the Labour Party, reluctantly supported the Norway plus option on Thursday, describing it as the Labour Party's "least worst option."

[Brexit is like] half a horse. You can either have the head or the arse. But ultimately it's going to bleed to death.

One of its proponents, Labour MP Stephen Kinnock, told BI "it's attracting support from the right across the Labour movement, because it is becoming increasingly clear that it’s the only way to re-unite our deeply divided country."

He added: "Common Market 2.0 delivers on Labour’s call for a customs union and a strong single market deal, enables safeguards on the free movement of labour, and Norway has almost the highest level of state aid in Europe."

Other Labour MPs, who campaigned passionately for Remain in 2016, say that they'd rather focus on making the best of Brexit by pressuring the prime minister into an improved deal than re-open the wounds of two years ago.

Some Labour MPs believe that Labour should focus instead on domestic issues like rough sleeping and social care, and then wait for voters to see damaging impact of Brexit, before campaigning to rejoin.

One backbencher told BI that Brexit is like "half a horse." They added: "You can either have the head or the arse. But ultimately it's going to bleed to death."

With the Commons almost certain to vote down May's deal next week, and MPs set to debate alternatives in the days that follow, campaigners for a second referendum realise that it could be now or never for their dreams of forcing a second vote.

And without Corbyn's support soon, that dream could very quickly slip away.

SEE ALSO: Has the UK parliament really taken back control of Brexit from Theresa May?

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NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'

Chris Grayling says blocking Brexit could encourage the UK's far-right

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Chris Grayling

  • UK Transport Secretary Chris Grayling warned that blocking Britain's departure from the EU could "open the door" to extremism and far-right movements in Britain.
  • His comments come as Anna Soubry, a Remainer Tory MP, was verbally abused and accused of "being a Nazi" by pro-Brexit protesters earlier this week.
  • MPs are set to hold a "meaningful vote" on May's Brexit deal with the EU on January 15, which the government is likely to lose.

UK Transport Secretary Chris Grayling warned that blocking Brexit would "open the door" to extremist and far-right movements in the country.

Grayling, who is a close ally of Prime Minister Theresa May, told the Daily Mail on Friday that if MPs blocked Britain's departure from the EU, "we would see a different tone in our politics. A less tolerant society, a more nationalistic nation."

"'It will open the door to extremist populist political forces in this country of the kind we see in other countries in Europe," he said.

"If MPs who represent seats that voted 70 per cent to leave say 'sorry guys, we're still going to have freedom of movement,' they will turn against the political mainstream," he added.

Read more:Second Brexit referendum campaign fear it's 'game over' unless Corbyn backs a People's Vote

Theresa May

Grayling's comments come after pro-Brexit protesters accused Conservative Remainer MP Anna Soubry of "being a Nazi" outside Parliament earlier this week.

Soubry has since called for the protester to be prosecuted by police.

One man who shouted the abuse told the BBC that his group would continue unless Britain left the EU on March 29, when Article 50 expires. Another was found to have argued last year that he wanted to "ban Islam from the west."

Anna Soubry Jacob Rees Mogg

MPs are set to hold a "meaningful vote" on May's Brexit deal with the EU on January 15, which the government is likely to lose.

Labour and Rebel Tory MPs joined forces to back a key amendment to the Brexit process on Thursday, which meas the government will have to return with a fresh strategy for Brexit if the House of Commons rejects her deal.

Read more:A Brexit-backing hedge fund titan now says Britain won't actually leave the EU, and is betting big on the pound

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NOW WATCH: MSNBC host Chris Hayes thinks President Trump's stance on China is 'not at all crazy'


Here's why Scarlett Johansson's personal trainers suggest always eating dark chocolate before a workout

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scarlett johansson dark choc

  • Personal trainers who have worked with the likes of Scarlett Johansson recommend eating dark chocolate before a workout.
  • Brothers Ryan and Eric Johnson say there are many benefits to the routine, including boosting your energy and creating a positive feedback loop.
  • Ideally, they say you should eat a third of a bar of high quality dark chocolate 15 minutes before a workout.

Chocolate and fitness are two things that most people don't assume go hand-in-hand.

However, for two personal trainers, chocolate is the key to a good workout.

Ryan and Eric Johnson are the brothers behind Homage Fitness, a new line of gyms in private residences across Miami, New York, and D.C. designed to combine top level fitness with hospitality.

The brothers, who are certified strength and conditioning coaches, have over a decade of experience in the fitness industry.

They also happen to be Scarlett Johansson's personal trainers and have worked with her and other actors on films such as "Captain America: Winter Soldier,""Ghost in The Shell," and "Avengers: Infinity War — Part 1."

The most surprising part of their workout routines? The duo always eat dark chocolate as a pre-workout snack — and they encourage their clients to do the same.

Eric and Ryan Johnson_2

"We're always searching for a good pre-workout supplement but most of the things you can buy in stores are full of sugar and caffeine," Eric told INSIDER.

"We already drink way too much coffee and most of our clients do too, so we wanted to find something which was more naturally organic and that would give you the same benefits."

The benefits of chocolate in moderation are well documented.

The brothers say that good quality dark chocolate (ideally at least 70% cacao) has been proven to release endorphins that make us feel good. 

What's more, a recent study found that people who eat chocolate three times a month had a reduced risk of heart failure of 13%, compared to those who ate none. Similarly, as an anti-inflammatory food, chocolate is linked to living longer.

Eric Johnson

"Dark chocolate releases dopamine and has a lot of benefits such as vasodilation which is basically that pump that people are after when they're trying to build muscle," Eric continues.

"It also benefits your brain function because it stimulates your brain cells to release that dopamine. And it also releases serotonin which is going to calm the nervous system down."

Science aside, the fitness gurus encourage people to get into the habit of eating dark chocolate before a workout for psychological reasons too.

"It creates this positive feedback loop with your brain — now that you're getting this piece of chocolate before your workout you're creating a positive association with your training session and you're getting more excited to get to the gym... you have something to look forward to," Ryan says.

Read more: A personal trainer explains why you shouldn't let yourself get too hungry if you're trying to lose fat

They add that dark chocolate is also simply a great source of essential energy.

"If you just go into your session on an empty stomach, you probably won’t last or you might feel a bit sick," Ryan continues.

"But at the same time, if you have too much food, you often feel a bit bogged down, heavy, and lethargic. So we found that the little piece of dark chocolate doesn’t have much weight to it but it's very nutrient-dense so it really provides the body with a lot of energy whilst still making you feel light in the stomach, allowing you to jump around and move."

Ryan and Eric don't mean you should only have one tiny square, either — in fact, they recommend having around two to three pieces, about a third of a standard size chocolate bar, or 30-50g.

If you're attempting to lose weight and thus are aiming to be in a calorie deficit, it's worth noting that you'll need to factor this extra snack into your daily goals: 50g of dark chocolate typically contains around 300 calories.

"While the benefits of this nutrient dense snack (such as the antioxidant and anti-inflammatory properties alone) outweigh the extra calories, one should certainly account for them," Eric says.

"Depending on your current fitness goals, personal stats (height, weight, body fat percentage, waist measurement), and activity levels, you should factor in the amount you consume to ensure that meet your energy intake requirements."

Ryan Johnson

You need to be eating good quality chocolate, too.

"Don't get the crappy stuff," Eric and Ryan say. "We want high quality stuff so you can reap the benefits of the antioxidants that are going to be in there as well." 

Ideally, the brothers advise having your chocolate 10 to 15 minutes before your workout — their preferred approach is to pop a couple of squares in on the way to the gym and just let it melt in their mouths.

Occasionally, however, they haven't been able to get their chocolate fix in advance, which mean there's only one option left.

"Sometimes we eat our chocolate when warming up in the gym," Ryan and Eric say. "People look at us like we're mad!"

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NOW WATCH: Saturn is officially losing its rings — and they're disappearing much faster than scientists had anticipated

Linear TV consumption has fallen off a cliff — here's how media companies are staying alive

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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.

US consumers have been “cord-cutting” — or canceling their pay-TV subscriptions in favor of internet-delivered alternatives — since 2010.

cord cutting accelerates in the us

The number of pay-TV subscribers dropped a record 3.4% year-over-year (YoY) in 2017, and the rate of decline is expected to accelerate further in the coming years. As a result, traditional media companies will continue to see their most important revenue stream erode. To compete in the shifting media landscape, traditional media companies' business strategies must satisfy two goals: extract as much revenue from pay-TV as possible before the opportunity to do so fizzles out, and taper reliance on pay-TV-related revenue along the way.

In this report, Business Insider Intelligence will look at how big media companies are refining their strategies to meet the aforementioned goals and mitigate the impacts of cord-cutting that are detrimental to their business. We also discuss current consumer behavior trends that are simultaneously driving the growth of streaming platforms (like Netflix) and decline of linear TV, as well as actionable insights on how companies can respond.

Here are some of the key takeaways from the report:

  • As consumers flee linear TV, they're spending more time on digital video services with ad-free and ad-lite viewing experiences. 
  • Media companies are responding by becoming less reliant on pay-TV revenue by launching their own streaming services. 
  • Traditional networks are also increasingly seeking M&A opportunities to gain the resources, talent, and technologies necessary to compete with streaming giants.
  • More media companies are beginning to experiment with airing fewer commercials per hour to enhance the linear TV viewership experience. 

 In full, the report:

  • Explains the decline in US pay-TV subscribers in recent years, and how significantly this decline has diminished the viewership and ad revenue of top TV networks. 
  • Outlines the top factors that consumers look for when deciding to subscribe to a streaming service. 
  • Details the top recent M&A deals between media companies, and describes how they've positioned those involved to better compete against streaming giants like Netflix.
  • Provides direction on how to best approach cutting ad loads on linear TV, and explains why experimenting with airing fewer commercials could be beneficial for viewership.

Subscribe to an All-Access pass to Business Insider Intelligence and gain immediate access to:

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Here's what will happen after the death of the magical number underpinning $350 trillion in trades

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day of the dead hat

  • Libor, linked to about $350 trillion worth of financial products, will be replaced by an alternate pricing benchmark for everything from mortgages to credit cards. 
  • Replacing Libor will be lengthy and problematic, and is one of the key themes to look out for in 2019 as financial services and asset managers start transferring to new systems. 
  • Thousands of existing contracts will need to be renegotiated causing a huge operational and financial burden that will consume legal teams for months. 

Libor, the rate that banks agree on when lending to each other, was problematic from the beginning. Unsurprisingly, it turned out to be widely rigged, and some of the biggest and most notorious banks had gotten tangled up in the Libor rigging scandal. Some criminal charges were brought against low-level traders, and huge fines were levied against some of the banks.

Another big thing that came out of the scandal was the realization that Libor, crucial to the credit-based economy and to hundreds of trillions of dollars in derivatives, had to go. It is due to die by the end of 2021.

"This is a material change in one of the most important numbers in finance," said Sandie O'Connor, chief regulatory affairs officer at JPMorgan Chase in New York.

Short for the London Interbank Offered Rate, Libor underpins everything from credit card loans to mortgages to the more arcane derivatives and syndicated loan contracts. Millions of financial products use the benchmark. 

Upending Libor has become key in 2019, meaning that this is the year to start worrying about the thousands of contracts that need to be renegotiated as the financial world shifts to new systems. 

"Operationally, the amount of work needed to make changes is tremendous," said Kevin McPartland, head of market structure at Greenwich Associates. 

The new benchmarks 

Enter new alternate benchmarks SOFR (the secured overnight financing rate) will be introduced in the US and will be secured against US Treasuries. Europeans will be served by Sonia/Eonia (Sterling/Euro overnight index average) instead.

Where Libor relied on a system of individual banks submitting their figures for lending costs each day — making it ripe for manipulation— SOFR will be calculated using real transactional data. Banks paid $9 billion in fines following the rigging scandal, with new rates introduced to reduce human error, and even outright fraud. 

Referring to SOFR, JPMorgan's O'Connor said: "We need to leverage financial infrastructure to get people trading on this benchmark, because just having a rate does not make a market."

It's complicated

There's another catch for replacing a 35-year old system. Libor and SOFR represent different levels of risk, so swapping out one system for the other will be a lengthy, and potentially costly, process for some contracts. 

Similarly, SOFR needs significant trading volume in order to build up enough data to determine value for one month, three month, and six month rates.

From a documentation and interest rate perspective, things get more complicated still. In June, The Bank of England pointed out that in the previous 12 months the stock of Libor-linked sterling derivatives stretching beyond 2021 had grown.

Significant runway is needed

Market structure experts cite the need to amend existing contracts to include "fallback" clauses which which specify what happens when Libor disappears.

This is comparatively easy for loans, but for derivatives, swaps, and options, amending existing contracts could potentially lead to legal battles. 

That's why 2019 is a crucial year.

"Loan documents, systems and practices will need to evolve to accommodate SOFR,” said Meredith Coffey, executive vice president of the Loan Syndications and Trading Association. "Significant runway is needed to restructure, given the magnitude of the issue and the thousands of deals that will need to be converted."

London is behind

Some companies haven't got their act together quite yet. A survey conducted by JCRA, an independent financial risk management consultancy, and Travers Smith, a London law firm, has found that a large majority of firms with exposure to Libor are yet to start making preparations for its discontinuation. 

Beyond that, prospectuses and technology will need to be changed and new futures contracts will need to be drawn up. CME has launched SOFR futures, ICE did the same last October, LCH (The London Stock Exchange's clearing unit) cleared its first SOFR swap contract last July and CME followed a few months later.

SEE ALSO: Once big banks crack the code of how to win millennials, star fintech unicorns will be crushed

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NOW WATCH: Bernie Madoff was arrested 10 years ago — here's what his life is like in prison

BIG TECH IN HEALTHCARE: How Alphabet, Amazon, Apple, and Microsoft are shaking up healthcare — and what it means for the future of the industry (GOOGL, AAPL, AMZN, MSFT)

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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.

bii big tech in healthcare ALL Four

The healthcare industry is undergoing a profound transformation. Costs are skyrocketing, consumer demand for more accessible care is growing rapidly, and healthcare companies are unable to keep up. 

Health organizations are increasingly turning to tech companies to facilitate this transformation in care delivery and lower health expenditures. The potential for tech-led digital health initiatives to help healthcare providers and insurers deliver safer, more efficient, and cost-effective care is significant. For healthcare organizations of all types, the collection, analyses, and application of patient data can minimize avoidable service use, improve health outcomes, and promote patient independence, which can assuage swelling costs.

For their part, the "Big Four" tech companies — Google-parent Alphabet, Amazon, Apple, and Microsoft — see an opportunity to tap into the lucrative health market. These same players are accelerating their efforts to reshape healthcare by developing and collaborating on new tools for consumers, medical professionals, and insurers.

In this report, Business Insider Intelligence explores the key strengths and offerings the Big Four will bring to the healthcare industry, as well as their approaches into the market. We'll then explore how these services and solutions are creating opportunities for health systems and insurers. Finally, the report will outline the barriers that are inhibiting the adoption and usage of the Big Four tech companies’ offerings and how these barriers can be circumvented.

Here are some of the key takeaways from the report:

  • Tech companies’ expertise in data management and analysis, along with their significant compute power, can help support healthcare payers, health systems, and consumers by providing a broader overview of how health is accessed and delivered.
  • Each of the Big Four tech companies — vying for a piece of the lucrative healthcare market — is leaning on their specific field of expertise to develop tools and solutions for consumers, providers, and payers.
    • Alphabet is focused on leveraging its dominance in data storage and analytics to become the leader in population health.
    • Amazon is leaning on its experience as a distribution platform for medical supplies, and developing its AI-assistant Alexa as an in-home health concierge.
    • Apple is actively turning its consumer products into patient health hubs.
    • Microsoft is focusing on cloud storage and analytics to tap into precision medicine.
  • Health organizations can further tap into the opportunity presented by tech’s entry into healthcare by collaborating with tech giants to realize cost savings and bolster their top lines. But understanding how each tech giant is approaching healthcare is crucial.

 In full, the report:

  • Pinpoints the key themes and industry-wide shifts that are driving the transformation of healthcare in the US.
  • Defines the main healthcare businesses and strategies of the Big Four tech companies.
  • Highlights the biggest potential impacts of each of the Big Four’s healthcare strategies for health systems and insurers.
  • Discusses the potential barriers that will challenge the adoption of the Big Four tech companies’ initiatives and how these hurdles can be overcome.

Subscribe to a Premium pass to Business Insider Intelligence and gain immediate access to:

This report and more than 250 other expertly researched reports
Access to all future reports and daily newsletters
Forecasts of new and emerging technologies in your industry
And more!
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A top Wall Street strategist reveals a game plan that earned 10% as stocks plummeted last year — and how investors can profit from it now

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Binky Chadha

  • Investors had few places to find shelter from the storms that wrecked the stock and bond markets in 2018. 
  • Binky Chadha, Deutsche Bank's chief global strategist, has highlighted a strategy that gained 10% last year — one that he expects to outperform again this year. 

2018 was a tough year for many investors. 

US stocks suffered their first annual decline since the financial crisis and the safety net of bonds failed investors. In contrast, those with the savvy to load up on cash and its equivalent instruments boasted decent returns. 

But moving to cash wasn't the only way to make money last year. Binky Chadha, the chief global strategist at Deutsche Bank, is spotlighting one such strategy that earned a plump 10% return while the broader stock market wallowed. In 2017, it gained 12%.

It's part of a four-part approach that the firm formulated for each stage of The business cycle: early cycle, mid cycle, late cycle (where we are now), and end cycle. Every stage consists of handpicked long-short baskets of stocks. 

The graphic below shows that the strategies have historically worked as advertised. On an annualized basis since 1982, the long-short baskets have posted the strongest returns during the corresponding phases of the cycle. In other words, the late-cycle basket has been best-performing in the latter phase of the cycle, and so on. 

Screen Shot 2019 01 11 at 1.03.06 PM

"In our base case that the cycle still has legs, we see the late-cycle basket continuing to outperform," Chadha said in a recent note to clients.

Read more: We interviewed Wall Street's 8 top-performing investors to get their secrets for success — and their best ideas for 2019

Chadha specifically defines 'late-cycle' as the era in which economic growth is still robust, but the labor market has tightened and the official unemployment rate is below its natural rate. Recent trends in the job market affirm his late-cycle characterization, as does the simple fact that the economic expansion will become the longest in history this year. 

And yet, Chadha doesn't see the next downturn as imminent. Sure, the length of the cycle and the degree of slack in the labor market both flash a late-cycle signal. But in his view, other indicators like wage growth, loan delinquencies, and capital spending indicate that this expansion has more room to run.   

This implies that for now, investors are stuck on recession watch, balancing the risk of exiting the market too quickly with the pain of holding on for too long into the bear market.

This waiting game is one that Deutsche's late-cycle strategy is positioned to profit from. According to Chadha, the strategy focuses on high-quality companies and bets on stocks with high free-cash flow, low net debt, and low debt growth while shorting those with high net debt and debt growth. 

In the long basket of stocks, Deutsche's buy-rated picks include Expedia, Nordstrom, Advance Auto Parts, and Ralph Lauren

Chadha's advise to focus on quality stocks rhymes with the recommendations offered by his counterparts at other firms. 

Savita Subramanian, the head of US equity and quant strategy at Bank of America Merrill Lynch, said in a client note that quality companies with stable earnings outperformed in 2018. Buying such stocks is a strategy that should continue to work in 2019, she said. 

Similarly, David Kostin, the chief US equity strategist at Goldman Sachs, advised clients to increase portfolio defensiveness by buying quality companies with strong balance sheets. He said these companies are positioned to outperform even in periods of economic uncertainty. 

By all indications, Wall Street is in such a period, with US economic and profit growth expected to slow this year and talks of a 2019 or 2020 recession getting louder.

SEE ALSO: A Wall Street strategist says the next recession will be a lot like the 2001 collapse — here's why that might not be such a bad thing

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NOW WATCH: The equity chief at $6.3 trillion BlackRock weighs in on the trade war, a possible recession, and offers her best investing advice for a tricky 2019 landscape

17-year-old crashes car while driving with a beanie pulled over her eyes as part of viral 'Bird Box' challenge

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bird box challenge utah car crash

  • People around the US have been taking part in the "Bird Box" challenge, where they cover their eyes while moving around.
  • The challenge was inspired by the Netflix series "Bird Box," where characters cover their eyes to shield from a mysterious force.
  • A teenager in Layton, Utah, pulled her beanie over her eyes as part of the challenge and crashed her car.
  • Nobody was injured, but the driver may face a reckless driving charge.

A 17-year-old in Layton, Utah, crashed her car while blindfolding herself while driving as part of the viral "Bird Box" challenge earlier this week, local police said.

The challenge involves people blindfolding their eyes while moving around. It was inspired by the Netflix series "Bird Box," in which people cover their eyes to shield themselves from a mysterious force.

The unnamed teenager pulled her beanie over her eyes and lost control of the vehicle while driving along the Layton Parkway in a pickup truck around 4:50 p.m. on Monday, Layton Police Lieutenant Travis Lyman told local news channel KUTV.

The car skidded to an opposite lane, hit another vehicle, and crashed into a light pole and sound wall, Lyman added.

She had been driving alongside a 16-year-old passenger, KUTV reported. There were no injuries, but police may charge her with reckless driving.

Layton Police tweeted images of both cars, which showed heavy dents along the side of the cars. "Bird Box Challenge while driving...predictable result," the force wrote.

Police around the country, and Netflix itself, have warned people against the "Bird Box" challenge.

bird box

Netflix tweeted earlier this month: "Can't believe I have to say this, but: PLEASE DO NOT HURT YOURSELVES WITH THIS BIRD BOX CHALLENGE."

"We don't know how this started, and we appreciate the love, but Boy and Girl have just one wish for 2019 and it is that you not end up in the hospital due to memes," it said.

Colorado Police also said in a video: "Inevitably, somebody's going to do the monumentally stupid thing that is driving while blindfolded. We shouldn't have to say this, but we're gonna: Don't drive blindfolded."

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NOW WATCH: This tiny building in Wilmington, Delaware is home to 300,000 businesses

There's a simple reason why your new smart TV was so affordable: It's collecting and selling your data

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black friday shopping target tvs

  • The vast majority of televisions available today are "smart" TVs, with internet connections, ad placement, and streaming services built in.
  • Despite the added functionality, TV prices are lower than ever — especially from companies like TCL and Vizio, which specialize in low-cost, high-tech smart TVs.
  • There's a simple reason that smart TV prices are so low: some TV makers collect user data and sell it to third-parties, which can offset the cost.


Massive TVs with razor-thin frames, brilliant image quality, and streaming services built-in are more affordable than ever thanks to companies like Vizio and TCL.

If you want a 65-inch 4K smart TV with HDR capability, one can be purchased for below $500 — a surprisingly low price for such a massive piece of technology, nonetheless one that's likely to live in your home for years before you upgrade.

But that low price comes with a caveat most people don't realize: Some manufacturers collect data about users, then sell that data to third-parties. That data can include what type of shows you watch, which ads you watch, your approximate location, and more. 

TCL P-series, Roku TV ad

A recent interview on The Verge's podcast with Vizio CTO Bill Baxter did a great job illuminating exactly how this works.

"This is a cutthroat industry. It’s a 6% margin industry," Baxter said. "The greater strategy is I really don’t need to make money off of the TV. I need to cover my cost."

More specifically, companies like Vizio don't need to make money from every TV they sell.

Smart TVs can be sold at or near cost to consumers — which is great for consumers — because Vizio is able to monetize those TVs through data collection, advertising, and selling direct-to-consumer entertainment (movies, etc.) — which is less great for consumers.

Or, as Baxter put it: "It’s not just about data collection. It’s about post-purchase monetization of the TV."

And there are a few different ways to monetize those TVs post-purchase.

TCL P-series, Roku TV ads

"You sell some movies, you sell some TV shows, you sell some ads, you know. It’s not really that different than The Verge website," he said.

It's those additional forms of revenue that helps make the large, beautiful smart TVs from companies like Vizio and TCL so affordable. 

Without that revenue stream, Baxter said, consumers would be paying more upfront cost. "We’d collect a little bit more margin at retail to offset it." 

The exchange is fascinating and worth listening to in full — check it out right here.

SEE ALSO: Samsung's absurd 219-inch TV takes up an entire wall — thus its name, 'The Wall'

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NOW WATCH: We put the 7 best smartphones of 2018 head-to-head and there was a clear winner for the best value


The companies disrupting the payments industry in major markets through digital

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This is a preview of the Global Payments Landscape report from Business Insider Intelligence. Current subscribers can read the report  here.

  • Noncash payments are on the rise worldwide.
  • As new players emerge to capitalize on consumer appetite for digital payment methods, three mature markets — the UK, Australia, and Sweden — have become standouts for what a more cashless society could look like.
  • The UK, Australia, and Sweden are transitioning to digital particularly well, and can serve as a roadmap for other mature markets seeking to overcome the legacy channel of cash.

Noncash payments have been gaining popularity around the world for the last decade. And though cash isn’t anywhere near dead, its global growth is slowing as consumers turn to emerging cashless alternatives.

Cash As A Share Of Total Transactions In Australia

But there are a few key markets - Australia, Sweden, and the UK - where annual noncash payments have already surpassed traditional cash transactions altogether — and they’re stong early indicators of what a truly cashless society could look like.

Why are digital payments on the rise?

The growing adoption of noncash payments is a direct result of the rise of e-commerce, but that’s not the only factor. Consumers today are adaptable to disruptive technologies and are generally open to trying new types of digital payment methods.

This consumer appetite is compounded by their access to infrastructure, as well as the emergence of government-backed initiatives, such as real-time transfers and the backing of electronic currencies, that make digital payments more enticing to both consumers and merchants.

How are Australia, Sweden, and the UK driving the world towards cashless payments?

Australia, Sweden, and the UK are emblematic of opportunities for payments players to lead the world away from cash. The Global Payments Landscape from Business Insider Intelligence, Business Insider’s premium research service, provides a snapshot of the payments industry in each of these three markets.

The report shows that several leading payments players have already emerged or are dominant within each of these regions — and they’re finding success in different ways. For other mature markets seeking to overcome the legacy channel of cash, the digital transformations of Australia, Sweden, and the UK can serve as a roadmap.

Here are the strategies these regions are implementing in the race to become the world’s first cashless society:

  • Australia is launching government initiatives and instating new regulations. The Australian government has banned purchases over AU$10,000 ($7,500) from being made in cash, as well as launched the New Payments Platform (NPP) to allow real-time funds transfer as a means of replacing transactions typically made in cash, such as paying back a friend.
  • In Sweden, consumers are rapidly abandoning cash in favor of cards. In fact, only 2% of the total value of transactions in Sweden consist of cash a figure that’s expected to decline to less than half a percent by 2020.
  • Contactless payments are leading the shift away from cash in the UK. Nearly the entire population has a debit card, and debit card transactions surpassed cash payments for the first time at the end of 2017. This milestone was largely fueled by the surge in contactless cards, which grew 97% annually last year to hit 5.6 billion transactions.

Want to Learn More?

The Global Payments Landscape from Business Insider Intelligence compiles various payments snapshots, together illustrating how digital payment methods are supplementing or replacing cash in each market.

Each snapshot provides an overview of the payments industry in a particular country, and details the evolution of its development. They also highlight notable payments players in each region and discuss the opportunities and challenges that players are facing in their respective markets.

 

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A hidden trick for turning your iPhone and AirPods into a spy microphone is going viral. Here's what the feature is really about. (AAPL)

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Tim Cook

  • A recently introduced feature for iPhones and AirPods called "Live Listen" is going viral. 
  • It enables a person to use an iPhone's microphone to listen in to conversations wirelessly through AirPods.
  • Some people are creeped out by the feature, suggesting it could be used to spy, but it was originally intended to help people with hearing aids or hearing loss to clearly hear conversations in crowded environments. 

There are a lot of cool, hidden features buried inside your iPhone's settings menu.

There's a new tip that's going viral on Twitter that allows you to use your iPhone as a microphone, and listen to what it records through your wireless AirPods headphones, even if you're far away. 

One tweet describing the feature, "Live Listen," has been retweeted over 47,000 times. 

Some people are creeped out by the feature, saying it could cause issues by allowing people to use an iPhone as a spy device. Even the person who made the viral tweet suggests it could be used as a way to cheat on a test

One person suggested that abusing the feature could be illegal in some states.

It turns out, the feature has nothing to do with spying. It's an accessibility-oriented feature for people with hearing loss. 

The "Live Listen" feature was introduced in an iPhone software update in September for Apple's AirPods. It was previously available for a few models of Apple-certified hearing aids.

Here's how it works. You turn it on, and then you point your iPhone's microphone at the person you want to hear speaking. Then, you can hear what they have to say through your hearing aid or AirPods, carried over the air through Bluetooth.

It's intended for people who use hearing aids to hear better in noisy environments, like in in a crowded restaurant or in a lecture hall. 

Here's how Apple describes it:

"Made for iPhone hearing aids, sound processors, and now AirPods can help you have better conversations in loud places. Just turn on the Live Listen feature and move your iPhone toward the people you’re talking with.¹ Live Listen uses the microphone to pick up what they’re saying more clearly."

Of course, it's not intended to be a full replacement for a hearing aid, which can cost thousands, but a helpful feature for anyone who might need to hear better in a given environment. If you think you need hearing aids, you should still speak to your doctor.

But if you have an iPhone and a pair of AirPods, it's easy to test out and see if it could help you. Here's how you do it.

First, you need to turn the feature on in your control center. You can do that by going to Settings > Control Center > Customize Controls. Turn on Hearing

live listen 4

Then put your AirPods in your ears. Swipe either up or down to access the control center, and tap the ear icon. It should say "Live Listen On."

live listen 2

To get clear audio in your AirPods, simply point the bottom of your iPhone at the source of the sound. You can't get too far away from your phone, because the sound is transmitted through Bluetooth. Be responsible! 

SEE ALSO: Apple's amazing AirPods are taking a baby step towards their full potential

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The creator of 'Fortnite' is getting involved with an intense feud between $2.6 billion Unity and $2 billion startup Improbable

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tim sweeney epic games fortnite

  • Improbable and Unity — two big names in the world of video game development — are engaged in a public spat, being carried out via back-and-forth blog posts.
  • The core of the matter: Unity seemed to have changed its terms of service to forbid customers from also using Improbable's SpatialOS tech, which helps developers run cloud-based gaming services.
  • The change frightened some Unity customers, who had been using Improbable's SpatialOS to power their online games — one developer actually shut down its game's servers, for fear of violating Unity's terms of service. 
  • But Unity says that Improbable misrepresented the situation, and customers can continue using SpatialOS as they've been. 
  • Epic Games, the maker of "Fortnite," then got involved when it announced a partnership with Improbable for a $25 million fund for developers who might be in "legal limbo" over the situation. The two companies have called on Unity for more clarity and a renewed commitment to openness. 
  • Epic and Unity are long-time rivals — Epic's Unreal Engine and Unity are two of the most popular video game engines in the world, and big business for both companies.

Epic Games, the creator of "Fortnite," has inserted itself into the middle of a back-and-forth feud between $2 billion British startup Improbable and $2.6 billion Unity Technologies. 

The beef began on Thursday, when Improbable announced that SpatialOS, a cloud gaming service, was no longer compatible with Unity after a change to the latter's terms of service.

This was a big deal: Unity, the flagship gaming engine from Unity Technologies, is the foundational software behind many modern video games — games like "Pokémon Go,""Hollow Knight," and "Cuphead" were all built with Unity at the core. Similarly, Improbable, a prominent British technology company, is the proprietor of SpatialOS, which helps developers quickly and easily deploy the underlying plumbing for online multiplayer features. 

Improbable's announcement created ripples throughout the industry — one Improbable customer, Spilt Milk Studios, reacted to the news by shutting down the online servers for its Unity-based game "Lazarus," for fear of violating Unity's terms of service.

hollow knight

Then, Unity responded, saying that Improbable had misrepresented the situation, and that developers using Unity with SpatialOS had nothing to worry about. It pledged to clarify its terms of service.

But then, later in the night, Epic Games, the $15 billion gaming giant, got involved. It announced that it had partnered with Improbable to create a $25 million fund for developers stuck in "legal limbo" over the situation. And Improbable issued its own "final statement," calling on Unity to  

Although the clash was between Improbable and Unity, Epic Games decided to jump in because it believes that game developers should have the freedom to use whatever tools they want. Of note is that Epic Games and Unity are long-time competitors: Epic makes the Unreal Engine, a direct competitor with Unity. Game engines are big business for both companies

"The principle at stake here is whether game developers are free to mix and match engines, online services and stores of their choosing, or if an engine maker can dictate how developers build and sell their games," Tim Sweeney, co-founder and CEO of Epic Games, told Business Insider via a Twitter direct message. 

Here's how things got to this point. 

Where it started

The roots of the feud go back to December, when Unity updated its terms of service to exclude "managed service[s] running on cloud infrastructure" that "install or execute the Unity Runtime on the cloud or a remote server." The meaning of this clause is what seems to be at the center of the dispute. 

In its original blog post, Improbable said that it was informed by Unity on Wednesday that SpatialOS would be in violation of those terms. In other words, Improbable wrote, all Unity-based games using SpatialOS — including those in development, as well as those released to the world with paying customers — were themselves in violation. 

Improbable also said that its own license for the Unity Editor software has been revoked. 

ultimate gaming pc fortnite

"Overnight, this is an action by Unity that has immediately done harm to projects across the industry, including those of extremely vulnerable or small scale developers and damaged major projects in development over many years," Improbable wrote in its blog post.

At the time, Improbable said that it would set up an emergency fund to aid SpatialOS developers on Unity, as well as make its code for the SpatialOS Game Development Kit for Unity available as open source.

"Live games are now in legal limbo," Improbable wrote.

Developers in limbo

Improbable's blog post sent the gaming industry into a tizzy, with many expressing concern that Unity would seemingly make such an aggressive, sudden move to block developers from hosting multiplayer games in the cloud. 

Sweeney himself questioned the logic of the move: "You couldn't operate Fortnite, PUBG, or Rocket League under this terms," he tweeted. 

Unity developers expressed shock and dismay over the change, as well. 

Spilt Milk Studios, whose game "Lazarus" uses both Unity and  SpatialOS, briefly shut down its servers after Improbable published its blog post. Boss Studios, the proprietor of "Worlds Adrift," came close to making the same move, though ultimately kept its servers online. 

The move seemed to endanger in-progress projects, as well. 

"I don't know how many hours I've sunk into these projects and the plans to start a game company utilizing this technology but it's a huge portion of my time over the last two years," user AtomiCal posted on the Unity forums. "Today I woke up to a message essentially pulling the rug from under my feet saying that I can't do that anymore. Unity won't let it happen."

Later, Improbable wrote another blog post apologizing for the uncertainty created by the situation, and suggested that the industry should standardize on some rules for how to handle situations like this. 

"In the near future, as more and more people transition from entertainment to earning a real income playing games, a platform going down or changing its Terms of Service could have devastating repercussions on a scale much worse than today,"Improbable wrote.

Unity calls Improbable 'incorrect'

Unity finally responded when CTO Joachim Ante wrote a blog post saying that Improbable's blog post was incorrect, and pledged that the company was working on clarifying its terms of service around cloud-hosted gaming. 

First of all, Ante said, Unity developers using SpatialOS won't be affected, whether their games are in production or live. 

"We have never communicated to any game developer that they should stop operating a game that runs using Improbable as a service," Ante wrote.

Unity's issue is specifically with Improbable, as a company — Ante writes that Improbable had been "making unauthorized and improper use of Unity’s technology and name in connection with the development, sale, and marketing of its own products." As such, Unity revoked Improbable's license keys for Unity Editor, one of its commercial products, such that the startup can no longer use Unity tech to build its services, he says. 

worlds adrift bossa studios

What's more, Ante wrote that Improbable had already been in violation of its terms of service for over a year, and it had told Improbable this both in person and in writing months ago. In other words, this should not have been a surprise to Improbable, as it's known about this for many months, Ante said. 

Also, Unity said it had been clear with Improbable that no games currently in production won't be affected.

"We would have expected them to be honest with their community about this information," Ante wrote. "Unfortunately, this information is misrepresented in Improbable’s blog."

Epic Games swoops in

The saga didn't end with Unity's blog. That same day, Epic's Sweeney and Improbable CEO Herman Narula penned a blog post together saying that they were starting a $25 million fund to assist developers "who were left in limbo." 

"Epic Games’ partnership with Improbable, and the integration of Improbable’s cloud-based development platform SpatialOS, is based on shared values, and a shared belief in how companies should work together to support mutual customers in a straightforward, no-surprises way," they wrote in the blog post.

Sweeney tells Business Insider that developers shouldn't be locked into Unity-approved services just because of some changes in the terms of service.

"As a new operator of a store and online services, Epic’s ability to serve developers depends on whether they’re free to choose us, or if Unity can say they’re locked into Unity-approved services," Sweeney said.

Improbable speaks out again

On Friday, Improbable made another blog post, saying this was its "final statement." In the post, it clarified that it had received verbal confirmation from Unity that it was not in breach of Unity's terms of service. It also said that although SpatialOS games based on Unity can stay live, the fact that Unity revoked its license keys means that Improbable cannot legally provide support to those games' developers, which includes fixing bugs.

"We regarded this as the end of the matter and proceeded with commercial discussions. Until the recent change, neither we nor Unity had reason to believe there was any issue for developers," Improbable wrote.

herman narula improbable 2

It also said that the terms of service cast too wide of a net, as the terms could put any cloud-based multiplayer solution or cloud-based streaming solution at risk of being in violation. After Unity clarified that Improbable was in violation of its terms of service, Improbable decided to put a public notice, says the blog post.

Finally, Improbable said that Unity should either unsuspend its Unity Editor license, or else clarify its terms and conditions — something that, again, Unity has pledged to do. 

"We urgently need clarity in order to move forward. Everyone requires a long term, dependable answer from Unity on what is and is not allowed, in a documented legal form," Improbable wrote. "More broadly, developers are asking about other services, not just Improbable’s. This urgently needs resolution."

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These are the top 15 US banks ranked by the mobile banking features consumers value most

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This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. This report is exclusively available to enterprise subscribers. To learn more about getting access to this report, email Senior Account Executive Chris Roth at croth@businessinsider.com, or check to see if your company already has access


New data shows that mobile features have become a key factor that customers weigh when choosing a bank. 

Screen Shot 2018 11 30 at 4.34.28 PMIn Business Insider Intelligence's second annual Mobile Banking Competitive Edge study, 64% of mobile banking users said that they would research a bank's mobile banking capabilities before opening an account with them. And 61% said that they would switch banks if their bank offered a poor mobile banking experience.

For channel strategists, the challenge in attracting mobile-minded customers is knowing when to bet budgets and political capital on developing emerging features. It's complicated by most flashy features — such as voice assistants, smartwatch banking, and bank-offered mobile wallets — being deemed a "must" by analysts, media, and rival banking executives. 

4by3catThe Mobile Banking Competitive Edge Report uses data to inform channel investment decisions by highlighting which mobile banking features are most valuable to customers. Our study has data on consumer demand for 33 in-demand mobile capabilities across six key categories. 

Using that consumer data, the study benchmarks the largest 20 banks and credit unions in the US by whether they offer the cutting-edge mobile features that customers say they care about most. What sets our benchmark apart is that it weights every feature according to customer demand data — not subjective analyst opinion.  

Channel strategists within financial institutions use our report to see which innovative features they should prioritize in development pipelines and to find out how they compare with rival banks and credit unions in offering those features.

Business Insider Intelligence fielded the Mobile Banking Competitive Edge Study to members of its proprietary panel in August 2018, reaching over 1,200 US consumers — primarily handpicked digital professionals and early-adopters, making our sample a sensitive indicator of emerging features. 

Here are a few key takeaways from the report:

  • Citi snagged first overall. The bank led the account access section, tied for first in account management, and ranked highly in all the other categories of the study. Wells Fargo took second place, leading in security and control and transfers. USAA came in third, NFCU was fourth, and Bank of America rounded out the top five.
  • Demand for security features is sizzling. Following a year of huge breaches being announced at companies like Facebook and Google, consumers' security concerns jumped to become the most important category. The category included the No. 1 feature overall: the ability to turn a payment card on or off. 
  • Digital money management features are also highly demanded. Chase and Wells Fargo may be onto something with their millennial-focused banking apps, Finn and Greenhouse, as the generation had sky-high demand for the six features in the category. The most popular feature in the category was the ability to separate recurring payments, such as Netflix and gym memberships.

 In full, the report:

  • Shows how 33 mobile features stack up according to how valuable customers say they are.
  • Ranks the top 20 US banks and credit unions on whether they offer each of those features.
  • Analyzes how demographics effect demand for different mobile features.
  • Provides strategies for banks to best attract and retain customers with mobile features.
  • Contains 63 pages and 30 figures.

The full report is available to Business Insider Intelligence enterprise clients. To learn more about this report, email Senior Account Executive Chris Roth (croth@businessinsider.com).  

Business Insider Intelligence's Mobile Banking Competitive Edge study includes: Ally, Bank of America, BB&T, BBVA Compass, BMO Harris, Capital One, Chase, Citibank, Fifth Third, HSBC, KeyBank, Navy Federal Credit Union, PNC, Regions, SunTrust, TD, Union Bank, US Bank, USAA, and Wells Fargo.

SEE ALSO: These are the trends creating new winners and losers in the card-processing ecosystem

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A San Diego TV station rolled back an accusation that CNN rejected a local reporter's commentary because it was pro-border wall

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Trump wall

  • CNN invited a reporter from San Diego's KUSI TV station to discuss border walls.
  • Dan Plante was to report on how border barriers were useful.
  • But CNN never aired the segment, and KUSI accused CNN of political bias on Thursday. President Donald Trump echoed KUSI's accusation on Twitter.
  • On Friday, KUSI rowed back its comments, with its news director saying that he didn't actually know why CNN rejected the story.

San Diego TV station KUSI-TV accused CNN of turning down an appearance from a reporter that they originally solicited on how border walls are useful because the national network allegedly didn't like what the reporter had to say. Friday, the station backtracked, saying the reporter, Dan Plante, didn't actually know why the rejection happened.

CNN reached out to Plante to talk about a border barrier in San Diego for a segment meant to air on Thursday, the Associated Press (AP) reported.

The segment was to be in relation to President Donald Trump's proposed, $5.7 billion border wall along the US-Mexico border. Congressional Democrats have for weeks refused to fund the wall, which caused the federal government to partially shut down last month.

But Plante's report never aired on CNN, and KUSI accused CNN of political bias.

Trump border wall prototypes

KUSI's digital content manager, Mike McKinnon III, wrote on Thursday: "We believe CNN declined a report from KUSI because we informed them that most Border Patrol Agents we have spoken to told us the barrier does in fact work."

"We have continuously been told by Border Patrol Agents that the barrier along the Southern border helps prevent illegal entries, drugs, and weapons from entering the United States, and the numbers prove it," McKinnon added.

KUSI anchor Anna Laurel added in her segment that day: "They didn't like what they heard from us."

Trump also backed KUSI by tweeting its segment on the border barrier and CNN's rejection, adding: "#FakeNews." The president has routinely and publicly criticized CNN, claiming it was biased against him.

But KUSI rowed back its comments on Friday, with news director Steve Cohen saying he actually didn't know why the network turned down Plante's appearance.

"It's certainly plausible that they didn’t want it for the viewpoint, or they just didn’t want it," Cohen said, according to the AP. "Both are plausible conclusions. I made one rather than the other."

CNN, on its part, said it routinely cancels bookings and called the saga a "non story."

Its communications team tweeted on Friday: "We called several local stations to book someone for a show. We didn’t end up booking any of them. That happens many times every single day. We did, however, book a reporter from KUSI for a story on immigration and the border wall in November. This is a non story."

The government shutdown entered its 22nd day on Saturday, making it the longest in US history. It does not appear close to ending as Trump and Democratic leaders have yet to find an agreement. 800,000 federal workers remain left with no paychecks.

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