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The latest news from Business Insider
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    eSports Advertising and Sponsorships

    This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

    What is eSports? History & Rise of Video Game Tournaments

    Years ago, eSports was a community of video gamers who would gather at conventions to play Counter Strike, Call of Duty, or League of Legends.

    These multiplayer video game competitions would determine League of Legends champions, the greatest shooters in Call of Duty, the cream of the crop of Street Fighter players, the elite Dota 2 competitors, and more.

    But today, as the history of eSports continue to unfold, media giants such as ESPN and Turner are broadcasting eSports tournaments and competitions. And in 2014, Amazon acquired Twitch, the live streaming video platform that has been and continues to be the leader in online gaming broadcasts. And YouTube also wanted to jump on the live streaming gaming community with the creation of YouTube Gaming.

    eSports Market Growth Booming

    To put in perspective how big eSports is becoming, a Google search for "lol" does not produce "laughing out loud" as the top result. Instead, it points to League of Legends, one of the most popular competitive games in existence. The game has spawned a worldwide community called the League of Legends Championship Series, more commonly known as LCS or LOL eSports.

    What started as friends gathering in each other's homes to host LAN parties and play into the night has become an official network of pro gaming tournaments and leagues with legitimate teams, some of which are even sponsored and have international reach. Organizations such as Denial, AHQ, and MLG have multiple eSports leagues.

    And to really understand the scope of all this, consider that the prize pool for the latest Dota 2 tournament was more than $20 million.

    Websites even exist for eSports live scores to let people track the competitions in real time if they are unable to watch. There are even fantasy eSports leagues similar to fantasy football, along with the large and growing scene of eSports betting and gambling.

    So it's understandable why traditional media companies would want to capitalize on this growing trend just before it floods into the mainstream. Approximately 300 million people worldwide tune in to eSports today, and that number is growing rapidly. By 2020, that number will be closer to 500 million.

    eSports Industry Analysis - The Future of the Competitive Gaming Market

    Financial institutions are starting to take notice. Goldman Sachs valued eSports at $500 million in 2016 and expects the market will grow at 22% annually compounded over the next three years into a more than $1 billion opportunity.

    And industry statistics are already backing this valuation and demonstrating the potential for massive earnings. To illustrate the market value, market growth, and potential earnings for eSports, consider Swedish media company Modern Times Group's $87 million acquisition of Turtle Entertainment, the holding company for ESL. YouTube has made its biggest eSports investment to date by signing a multiyear broadcasting deal with Faceit to stream the latter's Esports Championship Series. And the NBA will launch its own eSports league in 2018.

    Of course, as with any growing phenomenon, the question becomes: How do advertisers capitalize? This is especially tricky for eSports because of its audience demographics, which is young, passionate, male-dominated, and digital-first. They live online and on social media, are avid ad-blockers, and don't watch traditional TV or respond to conventional advertising.

    So what will the future of eSports look like? How high can it climb? Could it reach the mainstream popularity of baseball or football? How will advertisers be able to reach an audience that does its best to shield itself from advertising?

    Robert Elder, research analyst for BI Intelligence, Business Insider's premium research service, has compiled an unparalleled report on the eSports ecosystem that dissects the growing market for competitive gaming. This comprehensive, industry-defining report contains more than 30 charts and figures that forecast audience growth, average revenue per user, and revenue growth.

    Companies and organizations mentioned in the report include: NFL, NBA, English Premier League, La Liga, Bundesliga, NHL, Paris Saint-Germain, Ligue 1, Ligue de Football, Twitch, Amazon, YouTube, Facebook, Twitter, ESPN, Electronic Arts, EA Sports, Valve, Riot Games, Activision Blizzard, ESL, Turtle Entertainment, Dreamhack, Modern Times Group, Turner Broadcasting, TBS Network, Vivendi, Canal Plus, Dailymotion, Disney, BAMTech, Intel, Coca Cola, Red Bull, HTC, Mikonet

    Here are some eSports industry facts and statistics from the report:

    • eSports is a still nascent industry filled with commercial opportunity.
    • There are a variety of revenue streams that companies can tap into.
    • The market is presently undervalued and has significant room to grow.
    • The dynamism of this market distinguishes it from traditional sports.
    • The audience is high-value and global, and its numbers are rising.
    • Brands can prosper in eSports by following the appropriate game plan.
    • Game publishers approach their Esport ecosystems in different ways.  
    • Successful esport games are comprised of the same basic ingredients.
    • Digital streaming platforms are spearheading the popularity of eSports.
    • Legacy media are investing into eSports, and seeing encouraging results.
    • Traditional sports franchises have a clear opportunity to seize in eSports.
    • Virtual and augmented reality firms also stand to benefit from eSports.  

    In full, the report illuminates the business of eSports from four angles:

    • The gaming nucleus of eSports, including an overview of popular esport genres and games; the influence of game publishers, and the spectrum of strategies they adopt toward their respective esport scenes; the role of eSports event producers and the tournaments they operate.
    • The eSports audience profile, its size, global reach, and demographic, psychographic, and behavioral attributes; the underlying factors driving its growth; why they are an attractive target for brands and broadcasters; and the significant audience and commercial crossover with traditional sports.
    • eSports media broadcasters, including digital avant-garde like Twitch and YouTube, newer digital entrants like Facebook and traditional media outlets like Turner’s TBS Network, ESPN, and Canal Plus; their strategies and successes in this space; and the virtual reality opportunity.
    • eSports market economics, with a market sizing, growth forecasts, and regional analyses; an evaluation of the eSports spectacle and its revenue generators, some of which are idiosyncratic to this industry; strategic planning for brand marketers, with case studies; and an exploration of the infinite dynamism and immense potential of the eSports economy.

    Interested in getting the full report? Here are two ways to access it:

    1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> START A MEMBERSHIP
    2. Purchase & download the full report from our research store. >> BUY THE REPORT

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    NOW WATCH: Watch Adam Savage go undercover as Chewbacca at New York Comic Con

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    Screen Shot 2017 10 19 at 10.17.49

    Whether it's the company values, ethos, or simply the perks — there are upsides to every job and company.

    Glassdoor, a platform which lets employees anonymously review their companies, has revealed a list of the 20 UK companies with the best workplace cultures.

    Glassdoor hosts around 33 million reviews of 700,000 companies by current and former employees around the world.

    The ranking, built in collaborating with the Chartered Management Institute, considers factors like the quality of leadership and workplace values.

    It only considered companies with at least 50 employee reviews, one of which had to be from 2017.

    Scroll on to discover the 20 best companies in the UK for workplace culture, as voted for by employees.

    20. Thomas International

    Instagram Embed:
    Width: 658px

    What they do: Psychometric test specialist

    Management and culture ethos: The company in-house software assess seven aspects of workplace engagement: voice, togetherness, challenge, freedom, clarity, recognition and growth.

    19. Cloudreach

    What they do: Computing consultancy

    Management and culture ethos: At Cloudreach, managers "lead rather than manage.
    The difference for us is that a leader truly inspires and engages those who follow them."

    [All mangement and ethos quotes are from company spokespeople.]

    18. Peninsula

    What they do: HR and safety specialists

    Management and culture ethos: Peninsula focuses on creating a "welcoming and success-driven environment."

    See the rest of the story at Business Insider

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    finn myrstad nett smartwatch kids

    • Researchers have found major security flaws in childrens' smartwatches that could let hackers hijack them.
    • In some cases, they could be used to track kids' locations, eavesdrop on them, or send them messages.
    • At least one retailer has since pulled some of the devices off its shelves.

    Security flaws in a number of smartwatches aimed at children means hackers and strangers could hijack them and use them to track and eavesdrop on kids.

    The various issues were discovered by security firm Mnemonic, working with the Norweigan Consumer Council, after it analysed the Gator, Tinitell, Viksfjord/SeTracker, and Xplora smartwatches.

    The devices are marketed as a way for parents to keep tabs on and communicate with their children via apps — but some have very serious security flaws, and fall short of various standards. "Three of the four watches that were tested were found to contain significant security flaws," Mnemonic wrote in its report. "The flaws are not technically difficult to exploit, and in two cases, allow a third party to surreptitiously take control over the watch."

    smartwatches kids hackingThe Gator 2, Viksfjord/SeTracker, and Xplora devices were all found to have "multiple serious and practical attacks." In the Gator 2, for example, this includes hijacking the device, allowing the attacker to track its current location (and hence, the location of its child wearer), location history, the ability to send voice messages to the watch, and editing contact phone numbers it stores.

    The Viksfjord/SeTracker, meanwhile, can be turned into a "remotely controllable listening device," or give an attacker the ability to communicate directly with the child.

    And the researchers were able to access sensitive data from other Xplora customers, including locations, names, and phone numbers — suggesting it is not being stored properly.

    Meanwhile, none of the four devices give users the option to delete their accounts or have location data delete automatically after a set period of time. Only the Tinitell promises to implement reasonable security standards, Mnemonic said.

    John Lewis, the British high street retailer, has since stopped selling a Gator kids' smartwatch, telling The Telegraph: "As a precautionary measure we have withdrawn from sale all Gator smartwatch products while we await further advice and reassurance from the supplier."

    Here's the full report:

    Join the conversation about this story »

    NOW WATCH: The 5 most annoying changes in the new iPhone update — and how to fix them

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    Theresa May and Claude Juncker

    • Britain is due to leave the EU on March 29 2019.
    • Theresa May has always insisted that Britain will leave exactly two years after Article 50 was triggered.
    • However, Brexit minister Steve Baker told MPs the date could be pushed back.
    • Baker was questioned about why the government's EU Withdrawal Bill does not contain an exit date.

    LONDON — Britain's exit from the EU could be delayed, a senior minister has said.

    Under the terms of Article 50, Britain is due to leave the EU on the 29th March  2019.

    The government has previously resisted saying that it is possible to push back this date. Theresa May told Parliament last week that "we [will] leave the European Union on 29th March 2019," exactly two years after Article 50 was triggered. 

    However, Brexit Minister Steve Baker told MPs that the date could be pushed back "by mutual agreement" with the EU.

    "It could be by mutual agreement that the date changed," Baker told the House of Commons Procedure Committee on Wednesday.

    The minister was pushed by Brexit-supporting Conservative MP Peter Bone to categorically rule out delaying Brexit, after pointing out that the government's EU Withdrawal Bill does not contain a date for when the UK leaves.

    "Will the minister like to say here and now on the record that there is no chance whatsoever that the date will be extended past the 29 March 2017?" Bone asked.

    Baker declined to do so, saying only that the lack of date in the bill "reflects the position under treaty law."

    Under the terms of Article 50, the date for the exit of a member country can be pushed back if all member states collectively agree to it.


    Join the conversation about this story »

    NOW WATCH: Tom Price resigns after controversy over private flights — here are the casualties of the Trump administration so far

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    austin texas

    • Amazon plans to spend $5 billion to build a second headquarters, dubbed HQ2, which will eventually provide jobs to as many as 50,000 highly-paid employees.
    • Cities across North America have been submitting proposals to host HQ2 due to the potential for economic growth if Amazon comes to town.
    • Rents could rise by over $200 a month in the city that wins the bid for Amazon's new headquarters.

    Thursday is the deadline for cities across North America to submit their bids to become the home of Amazon's new $5 billion headquarters.

    The e-commerce giant announced on September 7 it had begun looking for a place to build its second headquarters, which will eventually house 50,000, mostly white-collar workers making an average of over $100,000 a year.

    Since Amazon has taken over Seattle, where it currently employs over 30,000 workers, Seattle has become the fastest-growing US city and the nation's largest company town, according to a recent article in the Seattle Times. As such, residents are paying a premium to live there.

    The situation will likely be the same for any one of the dozens of cities vying for Amazon's HQ2 as they hope to duplicate Seattle's economic boom in their own city.

    That's according to a new report from Apartment List, which analyzed how rents in some of the top contending cities would be impacted if Amazon moves in.

    To compile its report, Apartment List gathered data for 15 metro areas that are likely in the running for HQ2. The data included current vacancy rates, median income, and median rent, as well as housing development and rent increases from 2005 to 2015. Apartment List projected how Amazon's headquarters could change annual rent growth and then calculated the expected additional cost to renter households over a 10-year period.

    Below, check out the 10 cities where rents could increase the most if Amazon's HQ2 set up camp.

    SEE ALSO: Amazon is taking over Seattle — and residents are calling it 'Amageddon'

    DON'T MISS: 10 places in the US where young people are happy, rents are affordable, and jobs are plentiful

    Boston, Massachusetts

    Median rent: $1,969

    Additional annual rent growth: 0.5% - 0.8%

    Cost to renter over 10 years: $6,608 - $10,539

    Philadelphia, Pennsylvania

    Median rent: $1,253

    Additional annual rent growth: 0.6% - 0.8%

    Cost to renter over 10 years: $5,057 - $6,506

    Minneapolis, Minnesota

    Median rent: $1,217

    Additional annual rent growth: 0.7% - 1.0%

    Cost to renter over 10 years: $5,969 - $8,705

    See the rest of the story at Business Insider

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    david rosenberg

    • Thursday, October 19, marks the 30th anniversary of Black Monday, when the Dow Jones industrial average suffered a record 22% crash.
    • David Rosenberg, now the chief economist at Gluskin Sheff, was just starting out on Wall Street as the stock market crashed. "I had never in my life seen such pandemonium either professionally or personally," he recalled.
    • An important lesson from that day that economists got but traders missed, Rosenberg said, was that market crashes don't cause recessions — it's the other way around.

    David Rosenberg had the worst Wall Street new-hire onboarding you could ask for.

    Rosenberg, now the chief economist at Gluskin Sheff, started out as a junior economist at the Bank of Nova Scotia 30 years ago, on Monday, October 19, 1987, when the Dow plunged by a record 22%.

    Business Insider spoke with Rosenberg about his recollections and lessons from that day.

    This interview was edited for length and clarity.

    Akin Oyedele: How did you get your first job?

    David Rosenberg: In the prior three years after university, I was working in Ottawa at the Canada Mortgage and Housing Corporation, which was like Canada's equivalent of Fannie Mae, as a housing economist. That was a very exciting period. Those were the years that you had big banks globally: The breakdown of the barriers between insurance companies, banks, and brokerage houses, right in the infancy stages of the pretty significant deregulation taking place in the financial sector.

    I had a real yearning to come to Bay Street [in Toronto]. To be honest, I didn't know my ass from my elbow. I applied to a lot of the big banks and got a job at the Bank of Nova Scotia for a junior economist position — a junior position with less pay in a more expensive city. I almost turned it down. And then my father, who was the best mentor of my life, said to me, "Sometimes you have to take a step back to take two steps forward."

    Oyedele: On your first day in this new challenge, all hell breaks loose.

    Rosenberg: It was my first day on a trading floor. I had never in my life seen such pandemonium either professionally or personally. I remember looking up at one of the chandeliers on one of the trading floors and I said to myself, "I hope that trader doesn't fall down from the ceiling."

    I was 26 years old about to turn 27 and I was following the chief economist around. They were going to all the senior levels of the bank, showing that what we actually had on our hands was a severe liquidity event but not a fundamental economic event. Now, of course my boss, the assistant chief economist, and the chief economist didn't have profit-and-loss statements. But boy did they have ice in their veins, and they ended up being 100% right.

    I met the legends of Canadian banking including the CEO, the president, and all the heads of all the lines of business on my very first day. I didn't say a whole heck of a lot. I stood against the wall contemplating changing my underwear every 30 minutes.

    Oyedele: What were your biggest lessons from that day?

    Rosenberg: It was a phenomenal learning lesson. I learned that there is a fundamental difference between a correction, no matter how steep, and a bear market. You don't just measure a bear market in terms of peak or trough but also in terms of duration. It's not just magnitude — it's also duration.

    What I also learned was that you cannot have a bear market without there being a recession. And that's what everybody had wrong. Everybody thought the stock market collapse was going to lead to a recession. It's recessions that cause bear markets, not the other way around. That's why most investment banks like to have an economist on hand.

    Everybody thought we were going to have a recession after the collapse of 1987, but that didn't happen. The Fed cut rates in early '88, and all of a sudden the economy really caught a massive tailwind. What was interesting — and this is the dynamic of human nature — was that the same people that thought we were going to have a recession after the stock market collapsed were the same people forecasting a business expansion that would never die: the famous Reagan cycle.

    That long Reagan expansion that everybody thought was going to live on forever died in its 92nd month.

    image011We are celebrating this month the 100th anniversary of this economic cycle. We've already bypassed the long Reagan cycle by eight months. In fact, if we make it to May — which we probably will — this will go down as the second-longest expansion in recorded history.

    But the Fed is raising rates alongside the complication of unwinding its balance sheet. I've never seen a Fed tightening cycle with the economy accelerating. They've always ended with the economy either in recession or sharply decelerating.

    I remember Reagan also cut taxes in 1981 as he took the top marginal rate from 70% to 50%. And we had a six-quarter recession that nobody saw happening beginning July 1981, just as the tax cuts were being formulated. The reason was the Volcker Fed did not accommodate that tax cut. It raised rates, and we fell into a recession even with the fiscal relief. A very valuable learning lesson was that in the battle between fiscal and monetary policy, monetary policy always wins when it comes to determining the contours of the business cycle.

    I think we're much further into the economic cycle now than we were then. I'm thinking this is more probably like 1989 than it is 1987 from a business-cycle standpoint.

    SEE ALSO: Bets on a 'dangerous' trade that reminds experts of the 1987 market crash broke a record

    Join the conversation about this story »

    NOW WATCH: RAY DALIO: There's one asset every portfolio must have

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    Why Firms Use Blockchain 2x1This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

    Nearly every global bank is experimenting with blockchain technology as they try to unleash the cost savings and operational efficiencies it promises to deliver. 

    Banks are exploring the technology in a number of ways, including through partnerships with fintechs, membership in global consortia, and via the building of their own in-house solutions. 

    In this report, BI Intelligence outlines why and in what ways banks are exploring blockchain technology, provides details on three major banks' blockchain efforts based on in-depth interviews, and highlights other notable blockchain-based experiments underway by global banks. It also discusses the likely trends that will emerge in the technology over the next several years, and the factors that will be critical to the success of banks implementing blockchain-based solutions.

    Here are some of the key takeaways from the report:

    • Most banks are exploring the use of blockchain technology in order to streamline processes and cut costs. However, they are also looking to leverage additional advantages, including increased competitiveness with fintechs, and the ability to use the technology to create new business models. 
    • Banks are starting to narrow their focus, and are increasingly honing in on tangible use cases for blockchain technology that solve real problems faced by their businesses. 
    • Regulators are taking an increased interest in blockchain technology, and they're working alongside major banks to develop regulatory frameworks. 
    • Blockchain-based solutions will start to emerge in different areas of financial services. The most successful solutions will solve specific problems for banks and attract a large enough network to create widespread benefits. 

     In full, the report:

    • Outlines banks' experiments with blockchain technology. 
    • Details blockchain projects at three major banks — UBS, Credit Suisse, and Banco Santander — based on in-depth interviews. 
    • Discusses the likely trends that will emerge in the technology over the next several years.
    • Highlights the factors that will be critical to the success of banks implementing blockchain-based solutions.

    Interested in getting the full report? Here are two ways to access it:

    1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >>Learn More Now
    2. Purchase & download the full report from our research store. >> Purchase & Download Now

    Join the conversation about this story »

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    Apple Ireland data centre

    • Apple wants to build a gigantic data centre in Athenry, County Galway. 
    • But objectors have resulted in heavy delays and some are concerned that the data centre will never get built.  

    Apple's proposed €850 million (£762 million) Irish data centre isn't home and dry just yet.

    A High Court judge ruled last Thursday that Apple should be able to build the server farm just outside the town Athenry on the west coast of Ireland, but two local residents are planning to appeal the decision, according to The Galway Advertiser.

    The duo — who filed the original application with the High Court to overturn planning permission for the project — have reportedly requested a certificate to appeal the court ruling, which was passed by Justice Paul McDermott.

    Their case is due back before Justice McDermott on Wednesday October 25, according to The Galway Advertiser.

    Campaigner Paul Keane, who leads the Apple for Athenry Facebook group, told Business Insider that "the collective hearts of Athenry sank" when they heard the objectors planned to appeal the judge's decision.

    Apple wants to use the data centre to store European user data and to help power online services, including the iTunes Store, the App Store, iMessage, Maps, and Siri for customers across Europe.

    The huge project has been plagued by delays over the last two years after a small number of people objected to its construction, citing environmental issues and other concerns.

    A decision on Apple's Irish data centre was expected to be passed in July but a shortage of High Court judges pushed the verdict back to October.

    apple data centre

    Galway County Council granted Apple planning permission in September 2015 but eight objectors took the issue to local planning body An Bord Pleanála. Following public hearings in Galway last summer, An Bord Pleanála gave Apple the go-ahead to build the facility last August.

    But local residents Sinéad Fitzpatrick, Allan Daly, and Wicklow landowner Brian McDonagh asked Ireland's High Court for a judicial review on environmental grounds.

    Apple has its European headquarters in Ireland and employs thousands of people in Cork, roughly two hours drive from Athenry.

    The company's relationship with the country is at an interesting point, with the European Commission ordering the Irish government to claim back €13 billion (£11.7 billion) in back taxes.

    Join the conversation about this story »

    NOW WATCH: Google Pixel 2 vs iPhone X: The biggest differences between the two

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    Will william Shu Deliveroo Editions

    • Deliveroo is a UK food delivery startup, valued at £1.5 billion
    • Its goal is to make takeaway more popular than home cooking
    • Its CEO Will Shu said he can't cook and lives on takeaway
    • The company is facing political scrutiny over how it treats delivery riders

    If you start a company that wants to kill home cooking, it's probably on-brand to be incapable of cooking yourself.

    And Will Shu, founder of British food delivery company Deliveroo and a former banker, is very on-brand.

    "The only thing I can make is an omelette," he told The Evening Standard. Apparently his recipe involves stewing tomatoes down and finely minced onions. He also boasted of having a grill.

    Otherwise, he pretty much survives on takeaway food according to the interview. He orders an egg pot from Pure for breakfast, a "healthy" lunch of chicken with several helpings of broccoli, and the occasional KFC for dinner.

    Shu also said he hadn't owned a TV since 2004.

    Shu's interview comes as Deliveroo faces considerable scrutiny for its role in the "gig economy", the term used to describe companies which rely heavily on independent contractors rather than full-time employees. Deliveroo relies on its network of 15,000 cyclists and moped riders to deliver meals across the UK and it pays, according to Shu, around £10 an hour.

    Deliveroo is deemed a British success story, with huge revenue growth in the last year and millions in venture capital funding. It grew 600% last year, albeit with tiny gross margins. According to one of its investors and board members, Martin Mignot, the ultimate goal is to make takeaway food more popular and cheaper than cooking at home.

    Deliveroo told a committee of MPs this month that it couldn't sustain that massive growth if it was forced to give riders worker status, and benefits such as holiday pay.

    Managing director Dan Warne said at the time: "The biggest impact on the model would be that we wouldn't be able to attract the same volume of riders to perpetuate that growth."

    Shu, in his interview with The Evening Standard, said most riders wanted the flexibility of contractor work. The implicit suggestion here is that the company would still fight against full worker rights, but it does want to reward drivers with some benefits. Those who fulfill a certain number of orders, for example, might qualify for sick pay.

    Join the conversation about this story »

    NOW WATCH: This 'crazy, irrational decision' Apple made 20 years ago turned out to be the key to its outrageous success over Samsung

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    black monday market crash newspapers

    Thirty years ago, the Dow Jones industrial average plunged by 22.6% — a gut-wrenching 508 points — to 1,738.74 on what is now referred to as Black Monday.

    It was by far the largest one-day percentage drop in US stock market history. That would be the equivalent of the Dow crashing by about 5,233 points in a single day, down to 17,921.

    But as scary as that October day was, US economic growth remained resilient, and gross-domestic-product growth never went negative. This is arguably the most important thing to remember about the whole ordeal.

    1987 crash 3

    That's not to say the stock market has zero effect on the economy. After all, a huge sell-off could slow the economy and even lead to a recession.

    But analysts have previously suggested stock-market crashes typically lead to less severe recessions than something like, for example, a housing crash or a credit crisis.

    Lombard Street Research's Dario Perkins once compared the effect on GDP from both the dotcom stock market crash of 2000 and the subprime-mortgage crisis of 2007-2008. GDP continued to rise during the former, but it got slammed in the wake of the latter.

    screen shot 2015 06 19 at 10.02.06 am

    Going back to stocks, it's encouraging to remember the stock market didn't die Black Monday. The Dow is up about 1,231% since that fateful October day, to around 23,150.

    SEE ALSO: The 27 scariest moments of the financial crisis

    Join the conversation about this story »

    NOW WATCH: RAY DALIO: You have to bet against the consensus and be right to be successful in the markets

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    Kenya opposition

    Here is what you need to know.

    It's the 30th anniversary of the 1987 stock market crash. The Dow Jones industrial average crashed by more than 22% on October 19, 1987, making for the biggest one-day percentage drop in its history.

    China's GDP slows down a bit. Data released by the National Bureau of Statistics on Wednesday showed that the Chinese economy grew at a 6.8% year-over-year rate in the third quarter, matching estimates but down from the second quarter's 6.9% print.

    UK retail sales post their slowest growth in 4 years. Retail sales rose 1.5% on a three-month basis, making for their worst performance since October 2013, according to data released by the Office for National Statistics.

    Trump picks a new head of the FTC. President Donald Trump has picked Joseph Simons, a partner at the law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP, to head the Federal Trade Commission.

    American Express' CEO is stepping down. Kenneth Chenault is stepping down as chairman and CEO of American Express after 17 years, a company press release said Wednesday. He will be replaced by the company's vice chairman, Stephen Squeri.

    Blue Apron lays off hundreds of workers. The meal-kit company announced Wednesday that it laid off 6% of its staff, or about 300 workers.

    United has lost $185 million because of hurricanes. The airline took a $185 million pretax loss as a result of canceled flights during the Atlantic hurricane season, Reuters reports.

    Stock markets around the world trade mixed. Japan's Nikkei (+0.4%) led the gains in Asia, and Germany's DAX (-0.5%) trails in Europe. The S&P 500 is set to open down 0.39% near 2,551.

    Earnings reports keep coming. Philip Morris reports ahead of the opening bell, while PayPal releases its quarterly results after markets close.

    US economic data flows. Initial claims and the Philly Fed will be released at 8:30 a.m. ET. The US 10-year yield is down 3 basis points at 2.32%.

    Join the conversation about this story »

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    private jets

    Most Instagram stars have at least one glamorous shot on a private jet.

    And now even ordinary people can fake a lavish lifestyle by hiring a grounded private jet as a backdrop for their Instagram snaps — well, at least in Russia they can.

    Moscow-based Private Jet Studio is selling two-hour photo shoots aboard the Gulfstream G650 private jet for 14,000 roubles ($244 or £185) with a personal photographer included, or 11,000 roubles ($191 or £145) without.

    If you'd prefer a video of your experience, you can pay 25,000 roubles ($434 or £330) for a two-hour spot.

    You can also hire a team of hair and makeup professionals to polish your look beforehand.

    The shoots give the effect that you are in the air, but the jet is in fact grounded the entire time.

    #love#music#privatejet#luxury #fashion#style#model#instadaily#followme#foto#photographer#hype#style#sexy#photomodel#photoshoot

    A post shared by PRIVATEJETSTUDIO (@privatejetstudio) on Sep 14, 2017 at 11:41pm PDT on

    Guests can quaff champagne while feigning to admire the view from the window.

    People have even been taking their dogs onboard.

    Доброе утро - это когда так. Fly with us ✈️💙

    A post shared by PRIVATEJETSTUDIO (@privatejetstudio) on Oct 16, 2017 at 1:18am PDT on

    This video shows the hair and makeup preparations.

    Location @privatejetstudio Production @kmelntsama Muah @we_love_makeup Photo @alencik30 Backstage @popella_watson

    A post shared by PRIVATEJETSTUDIO (@privatejetstudio) on Oct 15, 2017 at 12:03am PDT on

    It's all pretty glam.

    Куда бы вы отправились сегодня? ✈️

    A post shared by PRIVATEJETSTUDIO (@privatejetstudio) on Oct 17, 2017 at 2:20am PDT on

    The shots range from the overtly-staged...


    A post shared by PRIVATEJETSTUDIO (@privatejetstudio) on Sep 8, 2017 at 10:10am PDT on

    ...To the slightly more demure.

    Приглашаем на борт нашего частного самолёта. Фотосессия 14 000₽/час

    A post shared by PRIVATEJETSTUDIO (@privatejetstudio) on Sep 6, 2017 at 10:22pm PDT on

    The idea for private jet shoots has been largely inspired by posts from Instagram stars such Gianluca Vacchi, who's photo below has been liked over 200,000 times.

    Thanks Bogota', see you soon .. #gvlifestyle

    A post shared by Gianluca Vacchi (@gianlucavacchi) on Oct 7, 2017 at 10:27am PDT on

    The images are being used as a tool for building followers and likes on the platform — and they'll cost you less than £200.

    Misha Marvin из Black Star ⭐️на нашем борту.

    A post shared by PRIVATEJETSTUDIO (@privatejetstudio) on Oct 13, 2017 at 4:51am PDT on

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    NOW WATCH: The 5 best hidden features from the latest iPhone update

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    Paul Colonna Headshot

    • State Street Global Advisors, a $2.6 trillion asset manager, is a huge player in the passive investment movement, developing index and exchange-traded funds that provide cheap ways for Main Street to invest.
    • The passive trend has some people worried that ETFs are warping the stock  market. 
    • State Street also has an active investment management business, and a $26 billion investment chief there, Paul Colonna, says passive flows have impacted his work.
    • Despite the headwinds, Colonna is optimistic about active management for the long-term.

    Paul Colonna is State Street's chief investment officer for active fundamental equity, overseeing $26 billion globally.

    He's overseeing the active investment equity unit at a company that is much more well known for its passively traded funds. Just this week, the asset manager announced the rollout of deeply discounted index funds.

    State Street Global Advisors manages $2.6 trillion, making it one of the world's largest asset managers. It ranks as the third largest ETF provider, behind BlackRock and Vanguard, according to, and its SPY fund is the largest ETF by assets.

    These kinds of funds have hoovered up assets in recent years, with the combined assets of US ETFs hitting $3.1 trillion in August, according to Investment Company Institute, up from $2.4 trillion in August 2016. 

    This interview, conducted last month, has been condensed and edited for clarity.

    Levy: Are passive funds changing the way markets work and stock pricing work?

    Paul Colonna: At the end of the day, the world is going to have both active and beta kind of products. Customers need beta products. Beta products provide them aggregate exposure to broad indices. You can refine those beta products if you want low volatility or factor exposure. As the beta pulls assets in, there’s a larger amount of money that I would say is less attached to the fundamentals of the company. If you’re buying an index, you’re buying all the companies regardless of their fundamentals or earnings growth, etc. And that’s appropriate for some level of investors. 

    We can find companies that we think are really overvalued, or here’s a company that’s cheap, but no one is investing in it because the index pools aren’t buying it.

    The good news for active is we’re at a turning point within active management. I think that benefits active managers. We have a pool of capital out there that is looking at different factors with different objectives than we are. If we can understand that the fundamentals are going to be obviously very important to us as a manager but not so much to other pool of assets, that makes our job easier in terms of finding value. We can find companies that we think are really overvalued, or here’s a company that’s cheap, but no one is investing in it because the index pools aren’t buying it.

    Levy: In terms of pricing, does it make your job harder? How do you factor in passive funds?  

    Colonna: We’re long term active investors, so we don't factor in passive flows, but we see the impacts.

    We’re long term active investors, so we don't factor in passive flows, but we see the impacts.

    We find companies that are what we feel like are off the fundamentals and I think some of the reasoning behind that is the passive flows.

    Levy: What are you worrying about in the markets? Where are the risks? 

    Colonna: There’s always idiosyncratic risks in any company that you look at, but certainly from a macro perspective I think it’d be easier to talk about. We look at overall valuations and we do worry about the marketplace here at these valuations.

    We don't think the market is overextended. Having said that, valuations are close to 18x forward earnings, at least in the US. We feel like we’re getting to a point now where it’s not like it was in 2009, 2010 where you could look around and say you have interesting opportunities across sectors. Now you really have to find those few companies that probably won't be as cheap as they were before. But you can have high conviction on their earnings growth. The overall level of the market is certainly a concern here and we can debate where we are in the cycle, but certainly I think we are in the later part of the cycle.

    Levy: So you don’t think the market is overvalued? Why is that?

    Colonna: It’s earnings growth for sure, it’s projected 10% this year, and over the next couple years it’s going to be somewhere between 5% and 10%. We haven't seen synchronized earnings growth in the US and globally in a long time. And we're going to have that earnings growth over the next few years. And we have a backdrop that is a lot more constructive.

    depression recession crash economy free food bread coffee line unemployment jobsThere’s no recession on the horizon, large chunks of political risk have been taken off the table, not only in Europe but here in the US. We understand Brexit, we understand some of the bigger things out in the market place, central banks are normalizing because they see the growth. And that’s a good thing.

    There's better global growth, you see very little risk of a recession, so that’s a nice backdrop for the equity markets. While the valuations have certainly crept up over the past year or two, we think it's warranted.

    Levy: Is that fair to say across sectors?

    ColonnaAll sectors are a little different. Tech has had a great run here, especially this year, but I think at a sector level there are some great investment opportunities in tech with companies that are going to continue to compound earnings growth. 

    So even if you’re paying more for them than you did a year or two ago, we still think there are attractive opportunities in tech.

    Financials are another area. No recession, good global growth, interest rates are going to be normalizing here most likely over the next couple years,  the regulatory environments for financials has improved.

    Levy: Where are there opportunities to look at?

    Colonna: I'd like to take that at a 50,000 foot level. I do think the market is set up for active managers to do better.

    We're normalizing in our environment, the macro environment is becoming less relevant on a day to day basis and that's a good thing, you're seeing inter stock correlations come down, so individual stocks are moving more at what's happening at a company level than what the Fed is doing or what's going on in the political environment.

    We've seen active managers have their best performance this year than in the past five to six years. So on a very broad level, I think we’re going to take a look at active managers more closely.

    I think you can see equity markets up 10% to 15% in the next year. The equity markets are where you want to be.

    Levy: Do you think are there going to be fewer jobs for active managers in the long run, given the rise of passive?

    ColonnaThe industry as a whole is potentially facing some consolidation.

    The industry as a whole is potentially facing some consolidation.

    Having said that, what it takes to perform for a high active manager is a fair amount of resources, managers going deep and thoroughly on companies and segments. It requires a talent pool.


    I think you could make the case that it's less need for those benchmark hugging skill sets, but then more so on the high active and quite frankly, on the quant investing and smart beta investing sides.

    SEE ALSO: What it's like to be something other than white and male in the hedge fund business

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    NOW WATCH: This is what separates the Excel masters from the wannabes

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    trump air force one

    • On Thursday, the Senate is expected to vote on its budget resolution, a key step toward tax reform.
    • President Donald Trump teased the vote on Twitter, saying of he thinks the GOP has "the votes, but who knows?"
    • GOP Sen. Rand Paul is the only Republican projected to vote against the measure.

    President Donald Trump on Thursday teased the upcoming vote on the fiscal year 2018 budget on Twitter, appearing to be cautiously optimistic on the prospects for the major step toward passing the GOP tax reform plan.

    "Republicans are going for the big Budget approval today, first step toward massive tax cuts," Trump tweeted. "I think we have the votes, but who knows?"

    After deliberating on the fiscal year 2018 budget over the past two days, the Senate is expected to take up a vote on the resolution on Wednesday. The House passed its own substantially different version of a budget on October 5.

    The Senate budget will include what is known as reconciliation instructions, which will allow Republicans to eventually pass a tax reform bill through the chamber with a simple majority and avoid a Democratic filibuster. This is important since the GOP only holds a slim 52-seat majority.

    Trump's tease, casting doubt that the Republicans having enough votes to pass the resolution, appears to be in reference to resistance by Sen. Rand Paul. Paul believes the resolution does not do enough to control spending.

    Despite Paul's defection, it does appear that Republicans have enough breathing room to pass the budget. Sen. John McCain, who originally appeared to be wavering on the proposal, said he would vote for the measure as a way to kick off the tax reform process.

    Additionally, the math for Republicans is a bit easier with Sen. Thad Cochran returning to Washington after a health problem and Democratic Sen. Bob Menendez expected to be away from Capitol Hill due to a corruption trial in New Jersey.

    SEE ALSO: Trump's Obamacare changes are already causing chaos in the healthcare system

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    NOW WATCH: Construction has started on a prototype of Trump's border wall

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    lulu cia puppy

    • Trainee CIA K9 bomb-sniffer Lulu had her career cut short after just a few weeks of training.
    • No amount of motivation could keep Lulu on-task.
    • Fortunately, her handler adopted her and she's now living her best life in the safety of a family home.

    In a series of 'pupdates' tweeted from the CIA's official Twitter account, followers were informed that black labrador Lulu would not be continuing K9 training.

    "Sometimes, even after testing, our pups make it clear being an explosive detection K9 isn't for them," the CIA said in the first of a Twitter thread.

    Apparently, Lulu just didn't show the right amount of enthusiasm for bomb detection.

    Some pups might need a little extra motivation to keep them going — more playtime, a few extra treats...

    Unfortunately for Lola, no amount of extra attention was enough to keep her on task and, after just a few weeks, it became apparent to America's intelligence service that the bomb-sniffing life was not for Lulu.

    Lulu's fate was suddenly in limbo as her livelihood was pulled away from her. Fortunately, handlers are given the opportunity to adopt pups from the K9 programme — something that Lulu's handler took full advantage of.

    Lulu was the smallest dog in her class of six all-female pups, according to the CIA website. The blog foreshadowed Lulu's early retirement, saying in her bio: "She's hyper and silly when she plays, but has an easygoing sweetness and is extremely sensitive to her surroundings."

    Simply put, Lulu never seemed destined for a career in explosive reconnaissance.

    Frankly, though, we're just glad Lola is out of harm's way and she seems to be enjoying her new life with her handler's family.

    Join the conversation about this story »

    NOW WATCH: How the US could prevent a North Korean nuclear strike — according to a former Marine and cyberwarfare expert

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    IoT Platforms Market Size

    This is a preview of a research report from BI Intelligence, Business Insider's premium research service. To learn more about BI Intelligence, click here.

    The Internet of Things (IoT) is growing rapidly as companies around the world connect thousands of devices every day. But behind those devices, there’s a sector worth hundreds of billions of dollars supporting the IoT. 

    Platforms are the glue that holds the IoT together, allowing users to take full advantage of the disruptive potential of connected devices. These platforms allow the IoT to achieve its transformational potential, letting businesses manage devices, analyze data, and automate the workflow.

    In a new report, BI Intelligence examines the evolving IoT platform ecosystem. We size the market and identify the primary growth drivers that will power the IoT platform space in the next five years. And we profile many of the top IoT platforms, discussing key trends in the platform industry like platform consolidation. 

    Here are some of the key takeaways:

    • The IoT platforms market is set to expand rapidly in the years to come, with current leading platforms expanding and others entering the space.
    • We define the key categories into which IoT platforms fall: building block open platforms, closed high-end platforms, and product management platforms.
    • We highlight the ways platforms can help companies reach the full five stage potential of the IoT.

    In full, the report:

    • Explains the coming growth of the IoT platforms.
    • Profiles a number of leading platforms.
    • Highlights the central role platforms play in the IoT.
    • Looks to the future of the IoT platforms market.

    Interested in getting the full report? Here are two ways to access it:

    1. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you'll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally. >> Learn More Now
    2. Purchase & download the full report from our research store. >> Purchase & Download Now

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    • Celebrities are often carted off to receive treatment for "sex addiction."
    • However, experts disagree over whether it is a real condition or not.
    • Sex addiction is not listed as a clinical diagnosis yet, but some scientific research does show that sex and drug addicts' brains respond in similar ways to what they are hooked on.
    • Addiction is not an excuse for bad behaviour, but it does show that someone has deeper set issues they need to work through.

    It's a familiar story — a Hollywood star is driven away in a black car to go and receive treatment because they have an addiction. For some, it's because they can't stop having sex.

    Whether it's Charlie Sheen, Tiger Woods, or Harvey Weinstein, they seek out a cure for their "sex addiction," and promise they will get the help they need.

    However, experts disagree on whether sex addiction is a real thing or not. In the cases of high profile men being accused of sexual assault or cheating, sex addiction could be a front, or an excuse, for their bad behaviour.

    The term has been thrown around in the mainstream since the 1990s, when Michael Douglas was admitted to rehab for a supposed addiction to sex. Over the years the disorder has supposedly affected many celebrities such as Robbie Williams and Russell Brand, with varying levels of cynicism.

    According to some research, only about a third of sex addicts are women, but this figure is likely to be low because women are less likely to seek out treatment, or to believe they have a problem, and are thus under-represented in studies.

    Sex addiction is not a clinically-listed diagnosis.

    Sex addiction is not actually listed in the Diagnostic and Statistical Manual of Mental Disorders (DSM) or the International Statistical Classification of Diseases and Related Health Problems (ICD) — the two health catalogues medical professionals use as their mental health diagnoses bibles.

    One argument against sex addiction is that nothing physically bad happens when you stop being sexually active. Meanwhile,hen someone goes "cold turkey" from substances like alcohol or heroin, the body goes into withdrawal and nasty things can happen.

    Someone in withdrawal from heroin use experiences symptoms like shaking, sweating, abdominal pain, muscle spasms, diarrhoea, nausea, and vomiting — some people can even die. If someone doesn't have sex, these obvious withdrawal signs don't occur. Also, unlike with substance addictions, a so-called sex addict doesn't appear to need bigger and bigger doses over time, i.e.: more and more sex.

    Calling it an 'addiction' could be harmful.

    Sex addiction specialists also still debate over whether applying a term like "addiction" to normal human behaviours like sex is appropriate. Suggesting people have something wrong with them for engaging in a lot of sex may be seen as pathologising normal behaviour — or "slut shaming"— which is harmful.

    According to David Ley, a clinical psychologist and author, a diagnosis of sex addiction is based on a therapist's own idea of what constitutes an excessive amount of sex, and this varies a lot between them.

    "The mistake all these 'experts' make is to try to apply the characteristics of drug and alcohol addiction to sex, claiming too much sex works like a drug, causing cravings, withdrawals, tolerance (the need for increasingly powerful 'hits') and a downward spiral in which sex 'takes over their life,'" Ley writes in his book "The Myth of Sex Addiction."

    "There are many embedded moral concepts in these definitions, all of which suggest that sex is dangerous, shouldn't be 'enjoyed too much' and that something that creates imbalance in a person's life is inherently unhealthy."

    Ley told Business Insider over email that some research over the past few years has built on the theory that people who believe they are addicted to sex think this because of a conflict within themselves, sometimes of a religious nature, rather than simply because they're having too much of it.

    "So called sex addicts don't actually have more sex, they typically just feel worse about it," he said. "In addition to these religious conflicts, sex addiction is also a label used to excuse the misbehavior of wealthy powerful men, and is used to pathologise the sexuality of gay and bisexual men."

    He added: "All of this reveals clearly that sex addiction is a social construct, serving social functions around sexual control, not a medical or scientific one."

    FILE PHOTO: Hollywood film producer Harvey Weinstein of The Weinstein Company gestures during a break on the first day of the Allen and Co. media conference in Sun Valley, Idaho July 9, 2014.   REUTERS/Rick Wilking

    One theory suggests sex addiction is influenced by the fact internet porn is so readily available. However, while Ley admits porn is inarguably a powerful stimulant, he says there is no evidence to suggest it is actually addictive.

    Considering the amount of men who watch — or have watched — porn, Ley argues that if it had the destructive effect that some claim it does, men would be committing sex crimes at a much higher rate than they do now. In fact, Ley writes that "every day would look like the erotic chaos of Carnival and Mardi Gras."

    As porn access has increased, sex crime has actually decreased. This doesn't mean porn is the cure for sexual abusers and rapists, but it can be said that it hasn't made things worse.

    In a blog post on Psychology Today, Marty Klein, a sex, marriage, and family therapist wrote that the Harvey Weinstein saga is more proof that the term "sex addict" doesn't exist and just masks other problems. That, or it's a cover for infidelity and womanising.

    He argues that it's short-sighted to focus on the sex aspect of cases like Weinstein's, because it is obvious he is suffering from other problems, some of which he lists as the abuse of power, a lack of empathy, masochism, or self-destructiveness.

    Whatever Weinstein is perhaps covering, Klein says labelling him with a problem like "sex addict" makes it easier for everyone else to read about him and think "I don't have that, so I am not like that."

    It gives people the excuse to wave the problem off, rather than accepting bad sexual behaviour could be something that is ingrained into culture.

    Whether it's a real 'condition' or not, people still suffer.

    Despite not being listed as a disorder, many other therapists, psychologists, and psychiatrists are certain of sex addiction legitimately affecting people.

    Robert Weiss is a certified sex addiction treatment specialist, founder of the Sexual Recovery Institute in Los Angeles, and author of many books on the subject. He told Business Insider that in simple terms, sex addiction is an out-of-control pattern of compulsive sexual fantasies and behaviors that cause problems in the addict's life.

    He said people with it are preoccupied with sex to the point of obsession, and their attempts to quit or cut back have failed. They also suffer from directly-related negative consequences such as relationship trouble, problems at work or school, depression, anxiety, low self-esteem, isolation, financial trouble, and a decline in their health.

    "As with other addictions, the problematic behavior is used not to have a good time, but as an emotional coping mechanism," Weiss said. "Sex addicts, like other addicts, are not trying to feel good, they're trying to feel less. They want to escape stress, anxiety, depression, and other forms of emotional discomfort, and they use their addiction to do that."

    Unlike the skeptics, Weiss said many people in the field take a broad approach to the disorder — that it's less about the actual sex, and more about the destructive consequences of out-of-control behaviours.

    Addiction — whether it's substances or compulsive behaviours — often stem from having trauma in early life, such as neglect, emotional, or physical abuse.

    At some point, often during teenage years, survivors of trauma work out they can soothe their emotional pain with alcohol, drugs, and sometimes sex.

    Weiss says sometimes people may eroticise or reenact aspects of their trauma, and this turns into a cycle of self-hatred and shame throughout adulthood, fuelled by their sexual fantasy and sexual behavior.

    Addicts have similar brains, whatever they're hooked on.

    Some scientific research does back up the idea that people can be biologically addicted to sex, just as they could be to a drug. One study from 2014, conducted at Cambridge University, found that the brains of sex addicts responded in very different ways to porn than the brains of people who weren't addicted.

    Several areas of the brain — the dorsal anterior cingulate, which is involved in detecting social interactions; the amygdala, which processes emotional reactions; and the ventral striatum, which has many functions including motivation and reinforcement — are involved in addictive behaviours. The study found that for sex addicts, these areas of the brain respond in a similar way to porn as brains of drug addicts respond to getting high.

    Weiss said that although you won't see a sex addict go "cold turkey" in the same way as a heroin addict, withdrawal from sexual behaviour can happen.

    "With sexual addiction, withdrawal tends to manifest not so much physically, as sometimes occurs with substance abuse... but emotionally and psychologically," he said. "Sex addicts in withdrawal tend to become either depressive, or restless, irritable, and discontent. Moreover, withdrawal is not a necessary element of any addiction diagnosis, though most addicts, including sex addicts, do experience it to some degree."

    For all these reasons, the American Society of Addiction Medicine does recognise some behaviors, like sex, can be just as addictive as substances. The World Health Organization's forthcoming update to the ICD is also expected to list sex addiction as an official diagnosis for the first time.

    No matter the cause, if a person needs help, they need help.

    the priory

    Whether or not sexual addiction is the product of a past trauma or a cover up for other issues that need to be explored in the patient's mind isn't really the point, according to Weiss.

    Whether it's called a sex addiction, hypersexual disorder, out-of-control sexual behavior, sexual compulsivity, or something else, it's something people struggle with. Weiss said it's his duty as a therapist to help individuals in crisis, especially if it's a public issue, or the client has suicidal thoughts.

    If a client is an addict, they can be treated as such. If not, they can be helped in other ways, such as working through past trauma, or in the case of Weinstein, denial of what they have allegedly done to people.

    "I also think it's important to say that 'being addicted' does not absolve someone like Weinstein — if he really is an addict and not just an offender — from responsibility for his abhorrent behavior," Weiss added. "In fact, part of recovering from sexual addiction is admitting what you've done, taking responsibility, and accepting the consequences that ensue."

    Whether people like Weinstein will be helped by sex addiction or not depends on how open they are, and how willing they are to dig into their past.

    The important thing is, if you are suffering from what you believe is an addiction to sex, there is help out there — regardless of how many cynics are around.

    Join the conversation about this story »

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    pacific options exchange traders

    Dave Lutz, head of ETFs at JonesTrading, has an overview of today's markets.

    Here's Lutz:

    Morning!  Decent selling this 30year anniversary of Black Monday – with PBOC warnings of debt weighing in Asia, and globally Tech retreating, led by AAPL suppliers on reports of weak iPhone8 sales.  Sea of red in Europe, where the DAX drops 60bp - IBEX off 80bp as Catalonia Spat escalates – weighing on EU banks, specifically Italian ones, pressing their market off 1.3%.  Across the continent, Tech getting hit on SAP#s and AAPL - Consumer under pressure on Nestle and BMW, while Media names are watching Publicis whack.  FTSE losses are only 30bp as Healthcare and Telecom hold near unch.  In Asia. TOPIX up 30bp, but All eyes on Hong Kong off 2%+ and Hang Seng China Enterprises hit for 2.3% as Hibor leaps on PBOC governor’s comments on leverage.  Shanghai off small, KOSPI lost 40bp and Aussie up 10bp as banks keep the streak alive (10) 

    The US10YY bounces off the 200d, but under pressure as peeps rush into Havens - Spanish debt widening out only slightly to Bunds, while the $ is getting whacked ahead of Yellen meeting with Trump today.   Euro bid despite Catalonia, Sterling got hit on Weaker UK Retail Sales – while the Kiwi$ is getting smoked on center-left coalition chatter.  Despite in-line GDP, Ore off 3% and rebar 2% as China’s Xi presses forward with environmental agenda – what weighs on Copper.  Gold loves the haven move, but feels like it is underperforming the falling dollar as it gains only 40bp.  WTI off 1% into Expiry today, while Natty hangs near unch into Inventories.

    SEE ALSO: 10 things you need to know before the opening bell

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    NOW WATCH: The stock market has been turned completely upside down

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    Donald Trump

    • The Hill reports that the FBI investigated Russian nuclear industry officials engaging in bribery and kickbacks.
    • President Donald Trump tweeted Thursday morning that "Uranium deal to Russia, with Clinton help and Obama Administration knowledge, is the biggest story that Fake Media doesn't want to follow!"
    •  FBI agents reportedly confirmed millions of dollars went to the Clintons.

    President Donald Trump tweeted on Thursday morning about a bombshell report that the FBI investigated a bribery scandal involving the Russian nuclear industry and the Clintons.

    "Uranium deal to Russia, with Clinton help and Obama Administration knowledge, is the biggest story that Fake Media doesn't want to follow!"Trump tweeted.

    Trump also tweeted a quote from "Fox & Friends" on Thursday morning — "Russia sent millions to Clinton Foundation."

    John Solomon and Alison Spann at The Hill report that the FBI investigated Russian nuclear industry officials engaging in bribery and kickbacks before a 2010 deal that then Secretary of State Hillary Clinton and President Barack Obama approved, giving Russia control of much of the US's uranium.

    Trump's own dealings with Russia remain under constant examination in the media.

    Trump cited the deal for uranium, an important element needed for both nuclear power and weapons, as enriching the Clintons during the campaign.  Now Solomon and Spann have reported that FBI agents confirmed millions went to the Clintons.

    "The Russians were compromising American contractors in the nuclear industry with kickbacks and extortion threats, all of which raised legitimate national security concerns. And none of that evidence got aired before the Obama administration made those decisions," a person who worked on the case told Solomon and Spann.

    In another report, Solomon and Spann cite an American businessman who said the Obama administration blocked him from testifying to Congress about "conversations and transactions he witnessed related to the Russian nuclear industry's efforts to win favor with Bill and Hillary Clinton and influence Obama administration decisions."

    Hillary Clinton Sergei Lavrov

    The probe was conducted under Robert Mueller's FBI. Mueller now serves as the special counsel in charge of the investigation into Trump's Russia ties. Mueller ended the investigation in 2015 after uncovering a huge network of bribery, but did not pursue the Clintons.

    Trump's highlight of the report fits with a trend of him promoting outlets and reporters that give him favorable coverage.

    Soloman has written articles in the past defending the Trump administration and Michael Flynn, who was fired after misrepresenting his connections to Russian agents in a conversation with Vice President Mike Pence.

    The investigation into Trump's campaign's ties to Russia have loomed over his presidency since its early days. Currently, there is no end in sight as the investigation expands to include possible obstruction of justice by Trump and his son, and the role social media played in Russia's push to influence the 2016 election.

    SEE ALSO: 'Our task was to set Americans against their own government': New details emerge about Russia's trolling operation

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    NOW WATCH: Trump once won a lawsuit against the NFL — but the result was an embarrassment

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    elaine duke

    • Elaine Duke, the acting US Homeland Security chief, warns that terrorists still want to carry out massive attacks like 9/11.
    • In the meantime, terrorists are "happy" to carry out small attacks, like van or knife rampages, to retain money and followers.
    • "Creating terror is their goal," Duke said.

    Terrorists are "happy to have small plots" until they can carry out the next 9/11-style attack, America's acting chief of homeland security has warned.

    Speaking in London on Thursday, Elaine Duke said, as cited by the Daily Mail: "The terrorist organisations, be it ISIS or others, want to have the big explosion like they did on 9/11. They want to take down aircraft, the intelligence is clear on that."

    However, groups such as the Islamic State are currently in an "interim" period in which large-scale attacks are getting harder to plan — so many are carrying out "small plots" such as van and knife attacks instead.

    Duke said: "In the interim, they [terrorist groups] need to keep their finances flowing and they need to keep their visibility high and they need to keep their members engaged, so they are using small plots and they are happy to have small plots.

    "Creating terror is their goal and so a van attack, a bladed weapon attack, causes terror and continues to disrupt the world — but does not mean they’ve given up on a major aviation plot."


    Vehicle ramming has proved popular in Europe, where dozens have been killed in terror attacks since the start of this year. The Westminster Bridge, London Bridge, and Barcelona and Cambrils attacks all saw civilians killed and injured in van attacks.

    This month, Canada and France also witnessed two small-scale knife attacks, which the two governments have treated as terrorist incidents.

    How the US is stopping another 9/11

    Duke said the US had "worked on some strong measures" that have prevented terrorists from planning and executing massive attacks.

    "We have worked on some strong measures that we can't talk about. We are trying to play the away game and that is working against them in their terrorist safe havens and homes," she said.

    "We do have some terrorist groups on the move, you just saw the take-over of Raqqa and so if we can keep them declining and moving they have less time to sit and prepare."

    Earlier this week, US-backed forces liberated the Syrian city of Raqqa, the Islamic State's de facto capital for the past four years. The city was one of the self-styled caliphate's few remaining strongholds, and the group has continued to lose territory in Syria in Iraq this year, Reuters reported.

    Terrorists have it "a little easier" in Britain

    Countries with freedom of movement should also improve their border security systems, Duke said.

    She said: "Because of the movement of goods and people, we have to raise the baseline worldwide, we can't only consider our borders. We think the level of terrorist threat against the United States too is extremely high.

    "I think that it is challenging for you [Britain] because you have the proximities to other countries, the ease of movement from some of the terrorist safe havens is a little easier for you."

    Duke's remarks at the US embassy in London came the same day Andrew Parker, MI5's director general, warned that terrorists were plotting against the UK faster and more intensely than ever before. Lord Evans, one of Parker's predecessors, also said in August that Britain was likely to experience 20 to 30 more years of terrorist threats.

    Westminster terror suspect

    Social media firms must step up to the challenge, Duke says

    The US and UK plan to urge social media companies to do more to tackle online terrorist material in a meeting with G7 interior ministers later this week, the Telegraph reported.

    According to the Telegraph, Duke said: "There are a lot of social pressures and they [companies] want do business so they really have to balance between keeping their user agreements and giving law enforcement what they need.

    "The fact they are meeting with us at G7 is a positive sign. I think they're seeing the evidence of it being real and not just hyperbole."

    She added: "Terrorists are strong, they are adaptable and the terrorist threat is the highest it has been since pre-9/11. We have got to have every tool that's possible."

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