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- 04/19/18--05:44: _2 people reportedly...
- 04/19/18--06:20: _'That complexity ha...
- 04/19/18--18:24: _The Chinese navy ch...
- 04/19/18--18:37: _One of Google's mos...
- 04/19/18--18:46: _John Legend is conc...
- 04/19/18--19:25: _Hong Kong is so exp...
- 04/19/18--19:28: _COMEY MEMO: Trump s...
- 04/19/18--19:40: _Wall Street agrees ...
- 04/19/18--20:19: _Trump went into ext...
- 04/19/18--21:27: _Here are the bigges...
- 04/19/18--21:53: _The company behind ...
- 04/19/18--22:31: _China is obsessed w...
- 04/19/18--23:00: _Facebook doubled it...
- 04/19/18--23:00: _The CEO of a $67 bi...
- 04/19/18--23:05: _The 10 most importa...
- 04/19/18--23:31: _North and South Kor...
- 04/19/18--23:54: _The 23 major cities...
- 04/20/18--00:30: _The CEO of Barclays...
- 04/20/18--00:35: _Theresa May told of...
- 04/20/18--01:02: _Your DNA determines...
- 04/19/18--05:44: 2 people reportedly dead after plane crash near Belfast Airport
- The lines around healthcare are being redrawn, with mergers that combine pharmacies with insurers and doctors with health plans. At the same time, big technology companies have started taking a greater interest in healthcare.
- Cerner's confronting those changes by finding technology partners, which Cerner President Zane Burke believes is a better strategy than technology companies trying to go it alone.
- "That complexity has a tendency to eat you alive," Burke said, referring to tech companies that don't truly undestand healthcare data.
- Australian warships were "challenged" by the Chinese navy earlier this month.
- Three Australian navy ships were sailing through the South China Sea when they faced a polite but "robust" encounter with the People's Liberation Army, according to the ABC.
- The interaction is believed to have occurred at about the same time as China's largest-ever naval parade.
- One of Silicon Valley's best known copyright attorneys has left his job at Google after seven years.
- Fred von Lohmman left in March, and Google is hunting for a replacement as media companies mount a fresh challenge to Googe's ability to display their content.
- John Legend and his wife Chrissy Teigen are expecting their second child, a baby boy, in June.
- During a conversation at the Tribeca Film Festival, Legend said he's been getting advice on how to introduce two-year-old daughter Luna to their son.
- He's a bit concerned about how Luna will react to another person in the house.
- "She's talking a lot and she's used to being the center of everything right now," the singer told press and fans.
- A car space in Hong Kong's Kowloon district is being rented for or HK$10,000 (US$1,274).
- This appears to be the most rent ever paid for a Hong Kong parking space, costing more than some of the city's smallest apartments.
- Hong Kong continues to break records for its high cost of living.
- President Donald Trump "brought up the 'Golden Showers thing'" during a conversation he had with former FBI director James Comey, according to a leaked copy of Comey's memos published on Thursday.
- The "golden showers" Trump referred to stemmed from a rumor that Trump had entertained prostitutes and witnessed a sexual act while in a Moscow Ritz-Carlton hotel room in 2013.
- According to Comey, Trump said that 'the hookers thing' is nonsense, and that Russian President Vladimir Putin told him that "'we have some of the most beautiful hookers in the world.'"
- Wall Street is in agreement that first-quarter earnings season will be a boon for the stock market, providing a breath of fresh air after a turbulent few months.
- JPMorgan has five specific trade recommendations designed to help investors maximize their profits in what should be a fruitful period.
- President Donald Trump said he believes reporters who write about leaks should spend "a couple days in jail."
- The remark was noted in newly released, partially redacted memos former FBI director James Comey wrote after his early interactions with Trump in 2017.
- The memos were sent to Congress on Thursday, following a request from the Republican chairmen of several House committees.
- The release comes the same week that Comey's memoir, "A Higher Loyalty: Truth, Lies, and Leadership," was released.
- 04/19/18--21:27: Here are the biggest revelations from Comey's memos
- Al Jazeera has successfully built a millennial-aimed news brand AJ+, primarily on Facebook. But as Facebook pivots away from news, the company is focusing on a new centralized website, YouTube and other outlets.
- The news organization's digital division is now planning to roll out another new brand in the US aimed at Gen Z centered on digital influencers.
- One city in China has built bollards that spray jaywalkers with water, and tell pedestrians that "Crossing is dangerous."
- The system also uses facial recognition technology to capture and shame wayward walkers.
- Facial recognition technology is being used more frequently to target jaywalkers because of a high number of road fatalities and traffic jams.
- But in an increasingly strict China, police may want to clamp down on overt law breakers.
- Jaywalkers may soon lose points on their social credit score.
- Filings show Facebook shelled out a record amount on its European lobbying operations in 2017, doubling spend to $3 billion.
- The company faced multiple crises last year, including the spread of fake news, terrorist content, and election interference.
- European officials have called on Mark Zuckerberg and other senior Facebook execs to appear before the European Parliament to explain the Cambridge Analytica scandal.
- This year won't be any easier for Facebook as it navigates strict new privacy laws, and politicians who are increasingly determined to regulate the tech giants.
- Lloyds CEO Antonio Horta Osorio gave a speech on "The Bank of the Future" on Thursday.
- He said he sees four main drivers over change over the next few years: customer expectations, tech, competition, and regulation.
- If banks don't pay attention to these trends, they risk becoming the next Blockbuster or Kodak, he said.
- "First, is customers' legitimate demand for a more personalised, efficient and frictionless service." Horta Osorio said the rise of digital services are changing customer expectations when it comes to banking. "Today's customers have same-day delivery of books to their front door, box sets that download in seconds to their tablets, and a smartphone that offers near instantaneous updates on news that breaks on the other side of the planet," he said. "So they increasingly want the same experience for their finances." If banks don't keep up, they risk becoming the next Blockbuster or Kodak, Horta Osorio warned.
- "Secondly, technological innovations are making it increasingly possible for those demands to be met in a cost-effective way." Horta Osorio name-checked advances in artificial intelligence, machine learning, big data, and new innovations such as blockchain as holding immense promise for financial services. He predicted that financial innovation will see more technological innovation in the next 10 years than it has in the previous 100.
- "Thirdly, these technological innovations are themselves opening the door for new and varied sources of competition." Fintech startups are now well-established in Britain and Horta Osorio reiterated his call for banks to work in partnership with these startups rather than compete against them. However, Horta Osorio also highlighted the danger of "Big Tech" getting into banking, highlighting Apple's recent push into payments.
- "Finally, regulators are demanding that banks take the action that will allow competition to flourish so that the door is not arbitrarily closed." Regulators in the UK have recently introduced new 'Open Banking' reforms that require banks to share customer information with third party companies if the customer agrees. The aim is to allow startups to built slick new apps on top of the existing banking infrastructure. Horta Osorio said Lloyds is working hard to make sure its customers can access the full benefits of Open Banking, playing into his push to get banks to work with startups, not against them.
- 04/19/18--23:05: The 10 most important things in the world right now
- North Korea and South Korea will take turns rehearsing for their joint summit in the same venue where they're scheduled to meet.
- That venue is the Peace House in the "truce village" of Panmunjom, along the DMZ.
- South Korea will use the building on Tuesday and Thursday, and North Korea will rehearse there on Tuesday or Wednesday.
- It's unknown how Kim Jong Un will arrive for the meeting, but officials are reportedly preparing for a historic walk across the Korean border.
- 04/19/18--23:54: The 23 major cities with the worst quality of life in the world
- Every year consultancy firm releases a ranking of the cities with the highest quality of life in the world.
- The cities are broadly speaking, large conurbations in the Western world, with a handful in east Asia and Australia.
- But where are the cities with the worst quality of life? Business Insider took a look.
- The cities are generally in Africa and the Middle East, where war, poverty, and weak infrastructure are common.
- Political and social environment (political stability, crime, law enforcement)
- Economic environment (currency-exchange regulations, banking services)
- Socio-cultural environment (media availability and censorship, limitations on personal freedom)
- Medical and health considerations (medical supplies and services, infectious diseases, sewage, waste disposal, air pollution)
- Schools and education (standards and availability of international schools)
- Public services and transportation (electricity, water, public transportation, traffic congestion)
- Recreation (restaurants, theatres, cinemas, sports and leisure)
- Consumer goods (availability of food/daily consumption items, cars)
- Housing (rental housing, household appliances, furniture, maintenance services)
- Natural environment (climate, record of natural disasters)
- Barclays CEO facing fine from FCA and PRA over his attempts to identify 2016 whistleblower.
- The FCA and PRA will monitor Barclay's whistleblowing programme going forward.
- The decisions bring the regulators' year-long investigation into the incident to a close.
- Exclusive: A former senior Home Office official tells Business Insider that Theresa May personally intervened to ensure " the controversial "go home or face arrest" immigration vans were "toughened up".
- The source rubbishes claims by May's former chief of staff Nick Timothy that May had actually been opposed to their use and that they had been approved without her knowledge.
- "The Home Secretary [was] spoken to on holiday in Switzerland and the wording was slightly changed. It had been toughened up slightly."
- The revelation comes as the prime minister comes under fire for her "hostile" immigration policies.
- It is unlikely that you are entirely an extrovert or an introvert.
- It's more likely you are somewhere in the middle — but many of us associate with one side more than the other.
- Scientific evidence has shown how extroverts and introverts differ in both behaviour and biology.
- The way you are is written in your DNA, so it's unlikely you'll be able to change it.
A light aircraft has crashed near Belfast International Airport, reportedly killing two people.
Government investigators confirmed that an air accident had taken place. Ambulances were sent to the scene but stood down soon after, reporting that there was nothing they could do.
The plane crashed shortly after noon on Thursday near Nutts Corner, Crumlin. The BBC reported that there was a fire at the scene.
The plane was flying toward the airport when it crashed, the Northern Ireland Ambulance Service told Business Insider in a statement.
Belfast Airport said the aircraft had not been operating into or out of the airport.
Britain's Air Accidents Investigation Branch dispatched a team to the scene, a spokesman told Business Insider.
Belfast Airport is operating as normal.
This story is developing. More follows.
The lines around what defines a healthcare company are getting blurred.
For one, companies are merging like crazy: Pharmacies are acquiring insurers. Hospitals are getting into the drug business. Insurers are starting to own doctors' offices. Insurers are buying one of the largest standalone pharma middlemen. And retail giant Walmart's reportedly been in talks to buy Humana.
For another, tech giants are getting more and more interested in healthcare. For example, Apple's going to start putting medical records onto iPhones, and there has been speculation about how Amazon could get into the pharmacy business. Already, Amazon's teaming up with JPMorgan and Berkshire Hathway to form a new independent nonprofit venture aimed at lowering healthcare costs for their employees.
It's putting companies that make the software that connects all the different aspects of the healthcare system through electronic health records in an interesting position.
"We're increasingly looking for partners along the way," Zane Burke, the president of health information technology giant Cerner.
For example, Cerner's working with Salesforce on customer relationship management automation. Cerner's also working with Apple on its personal health records. Should patients want to see their information on their phones, Apple can work with Cerner's electronic medical records to pull that in.
Burke's less convinced that big tech companies can go it alone in health IT, based on how things have gone in the past.
"Big caps have gotten into this business before, multiple times, and have gotten killed every time," Burke said. Companies like Google, Microsoft, and IBM have tried to get into the health IT space over the past few decades, but ultimately haven't stuck around. Google Health, for example, had built a personal health information service, but the project was shut down in 2011. Microsoft recently decided to abandon its HealthVault Insights program, which was meant to give patients a better picture of their medical records and health.
"And I'm not saying the next big cap that gets in is going to get killed, I'm just saying there's a reason why people have not succeeded in the past. And it's because of the complexity, and understanding the depth of healthcare," he said.
The stumbling block as Burke sees it: how complex healthcare data can be, especially when it comes to privacy issues, and interoperability challenges that make it difficult to get data from one hospital to another.
"That complexity has a tendency to eat you alive," Burke said, referring to technology companies which may not truly understand healthcare data.
But it puts companies like Cerner in a good spot, Burke said. "We have a number of folks that want to work with us, and we just want to be very careful about picking the right partners that help us advance the ball the fastest, and deliver the most value for our clients, and that'll take care of our shareholders," he said.
Three of Australia's warships were "challenged" by the Chinese navy in the South China Sea earlier this month, according to an ABC report.
Defense sources told ABC that Australia's navy was en route to Vietnam when it encountered polite but "robust" challenges from the People's Liberation Army (PLA), but the specific nature of the challenges is not described. HMAS Toowoomba had departed from Kota Kinabalu, Malaysia, while HMAS Anzac and HMAS Success travelled through the South China Sea after leaving the Philippines.
It's believed the interaction happened around the same time China was conducting its largest-ever naval parade on April 12. The massive show of force involved 10,000 naval officers, 48 naval vessels, submarines, the country's only aircraft carrier.
During the event President Xi Jinping was on board one of the destroyers, overseeing the parade.
When questioned about the incident, Australia's Prime Minister Malcolm Turnbull wouldn't reveal any details.
"All I can say to you is we maintain and practice the right of freedom of navigation and overflight throughout the world," Turnbull said. "In this context, you're talking about naval vessels on the world's oceans including the South China Sea, as is our perfect right in accordance with international law."
The South China Sea is a highly contested and valuable region. It is a major shipping route and some claim it has more oil reserves thany any other area on the planet, except Saudi Arabia.
Numerous countries — including China, Brunei, Taiwan, Malaysia, Vietnam, and the Philippines — have territorial claims, making the South China Sea one of the most disputed places on the planet. For its part, China has been criticized for building artificial islands in the region and militarizing them with missile sites and air bases.
This isn't the only problem Turnbull has faced with China of late.
Last year Turnbull proposed a new law to target and broaden the definition of foreign interference, after a wave of claims regarding China's influence campaigns in Australia. The laws have been derided in China and since then the two countries have been sparring over strained diplomatic relations and China's growing influence in the Pacific.
Fred von Lohmann, Google's legal director for copyright issues, has left the company, leaving an opening in a behind-the-scenes but critical role at Google.
A well-known attorney in Silicon Valley, von Lohmann left in March after working at Google for more than seven years. During his tenure, he fought aggressively for Google's right to display copyrighted material — from music and video clips to news headlines — on its various online properties. His departure comes as Google is facing growing threats of regulation in Europe and a high-stakes negotiations with record labels in the US.
Von Lohmman told Business Insider that he's "taking a break to recharge the batteries" but that he was not going to any other job in the immediate future.
Google is currently seeking a head of copyright "to provide strategic direction and oversight of key initiatives" and "develop and implement anti-piracy strategies to address emerging challenges online," according to a job listing on its website. Google declined to comment.
As the world's number one search engine as well as the operator of YouTube, the world's largest video site, Google's business depends upon offering as much information as possible on its sites. Von Lohmann's role was to help Google achieve that goal even when the creators of some of that information objected, and he sometimes clashed with media figures who accused Google of not doing enough to clamp down on pirated movies accessible through its search engine.
"My goal has always been to fight for sensible and balanced copyright," von Lohmann told Business Insider. "Sometimes that meant I disagreed with rights holders and sometimes that meant I agreed with right holders. It depended on the issue."
New challenges on the horizon
Although Google his historically been viewed as an enemy of copyright owners, the company has made progress mending some of the differences and finding common ground with some copyright holders during von Lohmann's time.
Still, Google is facing a renewed effort by the music industry to make Google fork over more money for songs available on YouTube. Google also has a high-stakes courtroom battle on its docket, following an appeals court decision last month reviving Oracle's copyright claim against Google's use of the Java language in Android's operating system.
And YouTube is trying to regain the trust of its "creators," the home-grown video stars on the site who want the company to help protect them from infringement claims.
Google's choice of a replacement for von Lohmann could also signal the approach it wants to take in its dealings with media companies.
When he was hired, von Lohmann was seen by many big owners of intellectual property as a copyright radical. He had been senior staff attorney at the Electronic Frontier Foundation, a group that advocated for tech companies and Web users. Anytime a tech startup was sued for helping users share unlicensed films or songs via the internet, one could usually find von Lohmann in the startup's corner.
He was an advisor to Limewire, the once popular music service sued out of existence. He argued on behalf of Grokster, another ill-fated music service, before the 9th Circuit Court of Appeals.
"My plans mostly revolve around reading books, hanging out, and listening to music," he said, noting that he'd promised himself to take a year off.
Chrissy Teigen and her husband John Legend are expecting their second child soon. But the two are more concerned about how their daughter Luna will adjust to being a big sister.
"I don't think she has an idea yet," Legend said of whether or not two-year-old Luna is prepared for a little brother at a Tribeca Film Festival talk Thursday evening. "I've been getting advice from friends about how to introduce him to her, and we'll try and do it right."
INSIDER was in attendance as the singer spoke in conversation with "Jesus Christ Superstar Live" co-star and fellow singer Sara Bareilles about his career and family in New York City.
Bareilles suggested bringing a gift home from the hospital with the new baby, something Legend said his friends have brought up, too.
"I think Luna's going to be an issue," said Legend before sharing some other advice he's received. "I've heard I should bring Luna in to him so it doesn't feel like we're all just sitting there with this new guy, and [she's] like, 'Who 'dis?'"
But Legend said he's sure he and Teigen will figure it out. They have some time before her June due date. It will just be an adjustment period for little Luna.
"I think she'll probably have some growing pains when it comes to that, 'cause she's running the house right now," Legend admitted. "She's two. She's talking a lot and she's used to being the center of everything right now. So, we'll see how she adjusts to that, to sharing the spotlight."
Legend noted that he's the second child in his family and he and his older brother, Ronald Stephens II, are very close now.
"My older brother travels with me all the time. He works with me, cuts my hair, he takes all the photos you see on my Instagram from all my shows, and has always been really supportive of me and [has] taken good care of me," he said. "So, I have a good example of what a good older sibling should be like."
If all else fails, Legend can always write Luna another song. He wrote a song for her on his 2016 album, "Darkness and Light," called "Right By You." However, Luna may need to share that with her baby brother, too.
"I've already started thinking about songs for my son," he said.
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But it's not just living spaces in Hong Kong that are expensive — a car space in Kowloon district was just rented out for HK$10,000 (US$1,274) a month, making it the city's most expensive rented car park.
Property agents confirmed the 135 sq ft park was rented on Monday at the luxury Ultima project in the residential Ho Man Tin area.
According to South China Morning Post, the rent for the parking space is more than what some people pay for some of the city's smaller apartments.
The Ultima project has only 370 car spaces for its 527-units, which caused the price of a single spot to skyrocket.
Hong Kong continues to break records for its high cost of living.
In November, two units in a luxury housing development at The Peak sold for a combined HK$1.16 billion ($149 million) to a single buyer.
An unidentified buyer paid $76.8 million for a 4,579 square-foot apartment and about $71.7 million for a 4,242 square foot apartment.
President Donald Trump "brought up the 'Golden Showers thing'" during a conversation he had with former FBI director James Comey, according to leaked copies of Comey's memos.
The "golden showers" Trump referred to stemmed from a rumor that Trump had entertained prostitutes and witnessed a sexual act while in a Moscow Ritz-Carlton hotel room in 2013.
That detail was one of many that emerged on Thursday night, after 15-pages of partially redacted memos that Comey wrote last year were released.
Comey wrote that on January 28, 2017, former chief of staff Reince Priebus took him to see Trump in the Oval Office, where they had a conversation on a myriad of different topics, including the anecdote about prostitutes. The as yet unverified rumor is mentioned in the Steele dossier, a collection of memos compiled by the former British spy, Christopher Steele.
"The President said 'the hookers thing' is nonsense," Trump said at the time, according to Comey, "but that Putin had told him 'we have some of the most beautiful hookers in the world."
Comey qualified his account and said that Trump "did not say where Putin had told him this ..."
During the conversation, Trump fretted over the notion that his wife, Melania, would be upset by the notion that he could have spent time with prostitutes in Moscow, and reiterated his claim that "he hadn't stayed overnight in Russia," to which Priebus tried to interject by asking "why it was even in there," Comey wrote.
In his new book, "A Higher Loyalty: Truth, Lies and Leadership," Comey said that he privately thought why Melania might believe the allegation against Trump would even remotely be true.
"In what kind of marriage, to what kind of man, does a spouse conclude there is only a 99 percent chance her husband didn't do that," Comey wrote in the book.
Some of the allegations mentioned in the Steele dossier have not been publicly verified. The document is one of several pieces of information being considered in the Russia investigation that spans several US congressional committees and law-enforcement agencies.
Considering the roller-coaster ride stocks have been on for the past several weeks, you can hardly blame investors for wanting a calming influence.
Lucky for them, they're about to get just that in the form of corporate earnings season, at least according to firms across Wall Street.
A big part of that support stems from what JPMorgan and Deutsche Bank see as latent demand from systematic trading — which includes the types of passive and often price-insensitive strategies that can wield great influence over the entire market.
The two firms note that commodity trading advisers are running low equity allocations at the moment. This is because the turbulence that rocked markets earlier this year forced them to shed stock holdings as they tried to rebalance their exposure to volatility.
Good news, everyone: Since both realized and implied volatility have declined over the past couple of weeks, JPMorgan and Deutsche see those CTAs spring-loaded to buy more stocks.
Going beyond systematic demand for equities, Goldman Sachs and other firms have highlighted the robust sales and earnings growth that has been forecast for both the quarter and the full year. In a recent client note, Goldman estimated that S&P 500 revenue would grow by 10% in the first quarter, which would be its fastest pace since 2011. The firm even went as far as to identify single stocks it expected to outperform.
Convinced yet? If so, you're probably still wondering what to do with all of this information. Namely, where to invest and what trades to make.
JPMorgan has you covered. Led by the strategist Bram Kaplan, the firm's equity derivatives team has five trade recommendations — one that applies to the whole US market and four addressing single stocks.
1) Buy calls on stocks that are poised to outperform this season and have cheap earnings volatility
For the first qualification, Kaplan & Co. are specifically referring to stocks positioned to most benefit from this year's new tax bill, as well as those set to get a boost from record share buybacks. Within that subset, JPMorgan recommends identifying stocks whose implied earnings moves are being underpriced by the market.
2) Buy Allstate (ALL) May $97.50 calls
Allstate is JPMorgan's top property and casualty insurance pick for earnings, and the firm thinks the company's 2018 guidance is conservative. It notes the option market is pricing in an earnings-related move of 3.4%, which is below its recent average realized move of 3.9%.
3) Buy US Steel (X) $39 weekly calls expiring May 4
JPMorgan says a continued rally in steel prices should continue driving earnings upside for US Steel, which is the firm's top pick in the industry. It notes the option market is implying an earnings-related move of 8.1%, well below its three-year average realized move of 9.8%.
4) Sell Marriott (MAR) $137 weekly puts expiring May 11
The firm's recommendation is built largely on the positive first-quarter preannouncement recently made by Hilton Hotels. And since Marriott has recently been underperforming Hilton, JPMorgan says it has limited downside. The firm says the option market is pricing in an earnings-related move of 3.6%, above its three-year average realized move of 2.5%.
This strategy — which involves selling an out-of-the-money put contract and buying an out-of-the-money call — is designed to profit from a large increase in a stock. These recommendations match JPMorgan's bullish view on homebuilders and materials, as well as their positive fundamental view on Dick's specifically.
President Donald Trump has long been known to float the idea of putting news reporters in jail for writing stories that he finds unflattering, but he made that pitch in extraordinarily specific detail during a conversation with James Comey.
The former FBI director documented the interaction in several memos written in 2017. On Thursday night, 15 pages of partially redacted copies of Comey's memos were leaked after the US Justice Department delivered them to Congress.
Trump had been bristling over troubling leaks surrounding his campaign, his presidential transition and, later, his administration — which often led to news articles that he found unflattering.
Comey noted in one memo a conversation he had with Trump about that issue, during which Trump talked about finding leakers:
"I said something about the value of putting a head on a pike as a message," Comey wrote, adding that Trump replied that it may involve putting reporters in jail, the memo reads.
"They spend a couple days in jail, make a new friend, and they are ready to talk," Trump said according to Comey's recollection.
Comey originally recorded the memos to preserve his memory of private interactions he had with Trump. Comey testified to Congress last year that he felt some of those conversations were inappropriate and could compromise his neutrality as then-director of the FBI.
Former FBI director James Comey's memos are out.
Shortly after the Justice Department sent copies of former FBI director James Comey's memos to Congress at the request of a group of House Republicans, news organizations got ahold of the 15-page, partially redacted documents.
The memos, which detail private conversations Comey had with Donald Trump before and after he took office, outline interactions with Trump that Comey found to be questionable.
Here are the biggest revelations from Comey's memos:
Trump railed against Andrew McCabe
According to Comey, Trump blasted former FBI deputy director Andrew McCabe and referred to him "your guy" in conversations with Comey, on several occasions.
"He asked (as he had at our dinner) whether my deputy had a problem with him, and recounting how hard he had been on the campaign trail," Comey wrote in the memo.
Trump bristled at McCabe frequently throughout his first year in the White House, often taking aim at him and his wife on Twitter.
Comey responded to Trump's comments by giving McCabe a positive assessment: "I again explained that Andy McCabe was a pro," Comey said in the memo.
McCabe was fired in March, amid an internal investigation over the manner in which he conducted himself during the FBI's Hillary Clinton email probe.
Trump said Mike Flynn had 'serious judgment issues.'
According to Comey, Trump complained about former national security adviser Mike Flynn by saying "the guy has serious judgment issues."
During a dinner, Trump recalled a conversation where Flynn had not properly informed him of a congratulatory call from a world leader after his inauguration.
"In telling the story, the President pointed his fingers at his head and said 'the guy has serious judgment issues,'" Comey said in the memo.
Who called to congratulate Trump?
Trump's reported source of ire for Flynn took a twist after Comey's memos were published.
According to Comey's account of Trump's story, Trump was giving a toast to UK Prime Minister Theresa May and explained she had been the first to congratulate him after he won the presidency. However, Flynn interrupted Trump to inform him that another world leader had called first.
The identity of the leader who first called Trump was redacted in the memo, however, people familiar with the situation said it was Russian President Vladimir Putin, according to a Wall Street Journal report on Thursday.
Flynn said a return call to that leader was scheduled, however, Trump appeared to have been irritated by the delay.
"Flynn said the return call was scheduled for Saturday, which prompted a heated reply from the President that six days was not an appropriate period of time to return a call from the [redacted] of a country like [redacted]," Comey wrote of Trump's account of conversation.
"This isn't [redacted] we are talking about," Trump said, according to Comey.
See the rest of the story at Business Insider
Al Jazeera is still a relatively under-the-radar news brand in the US. But it has quietly amassed close to 11 million followers on Facebook by catering to a millennial audience with AJ+, a content channel that deliberately doesn't carry the Al Jazeera brand.
Since launching in September of 2014, the social video-first news brand AJ+ has built a sizable following on Facebook (4 billion views in the past two years) with a mix of short and long form news clips. Given the changes in the Facebook news feed, it's recently expanded onto other platforms, like YouTube and its own branded website.
Dr. Yaser Bishr, Al Jazeera's SVP of Digital, oversees all the Qatari-based, linear-TV-centric company's digital properties, which include Aljazeera.com, AJ+, a fledgling virtual reality studio, an audio content brand called Jetty, as well as Sadeem, an upcoming news influencer brand aimed at Generation Z. Business Insider talked to Dr. Bishr about the company's budding US expansion plans.
Mike Shields: What made you start a new brand rather than one tied to the TV networks?
Dr. Yaser Bishr: What we know is millennials don't trust mainstream media much. There's too much legacy. And they like conversations, they like opinionated coverage. That's really not what Al Jazeera is about. Al Jazeera is more traditional, BBC-like. Straight journalism. That doesn't appeal to millennials too much.
So in order for us to do this and not hurt the traditional brand, you've got to create a separate brand. It gives you more freedom.
Shields: When you launched, like several digital startups at that time, you were seemingly focused on being a distributed media brand that existed mostly on Facebook, and didn't have a website. What's changed in light of the Facebook algorithm change?
Dr. Bishr: When AJ+ was created, Facebook was on fire at the time. We came really at the right time. So we focused all of our energy on building the brand on Facebook. Now, it's different. We're on YouTube. We're starting our own website.
Facebook is more of a laid back scroll. And the algorithm change is impacting us in a big way. So the lesson learned here is, it's time for our own site. Facebook is steering away from news. You can read [CEO Mark Zuckerberg's] intent. He doesn't want to be regulated. And news for him is not much in terms of revenue.
Shields: Yet given all that, Facebook is reportedly talking to news companies about making content for Facebook Watch.
Dr. Bishr: Zuckerberg is smart. But I don't know how they are going to do it. If you look at the behavior on Facebook, it's not [about news]. You've already built the habit to scroll the news feed. So for a person to physically go to Watch and physically go to a News section, I'm not sure. You're really building a whole new habit.
Shields: When you started AJ +, you didn't sell any ads, right?
Dr. Bishr: In terms of monetizing, I was completely against that. My goal for the first few years was to build the audience. Monetization is really disruptive early on. I think we got the benefits of that. The brand is strong now. We have significant loyalty.
So we're looking to monetize it now, but very carefully. The way Al Jazeera is structured, we look to monetize to increase distribution and reach. So our primary goal is reach and distribution.
Shields: Why have your own site?
Dr. Bishr: I think it is time for us to build a home. The gap that is created now, with Facebook moving away from news, it's opening an opportunity for us. There's a subset of the audience that wants more. The billion dollar question is, if someone sees a video on Facebook, what makes them come to your website?
Shields: Beyond AJ+, in 2016 Al Jazeera decided to put all its digital properties into one group, rather than have them tied to individual networks. What's that been like?
Dr. Bishr: I know how to build a business inside a business. But oh my god, it's harder than building a startup. It's challenging in a company that is 20 to 25 years in broadcast.
When we were deciding to form the digital group, I had discussions with the board, I talked to competitors at BBC, CNN ...[the thinking was] when you sit at a table and discuss budget, who is the biggest elephant in the room? It's the broadcast TV group. So who's going to get the attention? When you ask for services and everything, TV will get the services.
So when you are part of the bigger elephant, you can't get the entire attention. Plus, we now know from experience that what works on TV doesn't work on digital. So you have to have your own production. You need to be first class citizens in a company.
Shields: Do you see a big future for your brands in TV apps?
Dr. Bishr: Maybe for documentaries. But news has it's own consumption behavior. So I'm not sure. The challenge is reaching Gen Z.
Shields: You are trying something unique to reach this group, right?
Dr. Bishr: Gen Z, because they use Snapchat, etc, they are more interested in individuals, or having a conversation or a relationships with a content producer, and less a media brand. I am betting that the future is going to be about a network of influencers. News organizations are going to have this. You saw CNN do this with Casey Neistat. It didn't work. But the thinking was right.
So we created a format like "America's Got Talent" but for top influencers in the Middle East. It's called Sadeem. Since October we've got 18,000 applications. The judges picked 20 and they are currently competing. The plan is to build a brand from scratch. Next we want to bring the format to the US with a different name, and we're seeking production partners.
China is so desperate to stop jaywalkers it's turned to spraying them with water.
In Daye, in the central Hubei province, one pedestrian crossing has had a number of bright yellow bollards installed that spray wayward pedestrians' feet with water mist.
The pilot system works by using a laser sensor that identifies movement off the curb when the pedestrian light is still red. The bollard then emits its water spray, set to 26 degrees Celcius, and announces, "Please do not cross the street, crossing is dangerous."
Unsurprisingly, the bollards are also equipped with facial recognition technology and photographs of jaywalkers are displayed on a giant LED screen next to the crossing.
The use of facial-recognition technology is soaring in China where it is being used to increase efficiencies and improve policing. AI is being used to find fugitives, track people's regular hangouts, predict crime before it happens, but, most commonly, to stop jaywalkers.
While many Chinese cities are displaying jaywalkers' photos, names, and identification numbers on giant public screens, and even government websites, some cities are becoming more creative.
Shenzen has begun immediately texting jaywalkers after they commit their traffic infringement, while other cities only allow pedestrians to have their photos removed from public screens after helping a traffic officer for 20 minutes.
But why, of all crimes, does China focus so heavily on stopping jaywalkers?
Crossing roads in China can be very dangerous, and local governments are likely trying to minimize traffic jams and change pedestrians' behaviours for their own safety.
According to the World Health Organisation, China had more than 260,000 road traffic deaths in 2013.
An anecdotal contributor to this number appears to be the country's compensation system. In China, drivers who injure someone customarily pay expenses, but paying up to $50,000 for a funeral or burial is far cheaper than what may be life-long medical bills. So for some drivers its more frugal to ensure a victim is deceased.
There could also be less altruistic reasons for the clamp-down.
When one city built pedestrian gates at a busy intersection it was linked to attempts to strengthen "public morals." In a country where the government attempts to — and largely succeeds in — censoring its citizens behaviour in accordance with morality and socialist values, the constant flood of jaywalkers flaunting the law and creating havoc is hardly an ideal scenario.
And while the new water spray system seems like a light-hearted solution to these problems, the consequences could be severe.
If Daye's system is rolled out across the city, Global Times reported that the behaviour of repeat jaywalkers may lower offenders' social credit scores. People with low social credit scores can be blocked from travelling, applying for certain jobs, sending their kids to certain schools, and even throttling internet speeds.
Facebook CEO Mark Zuckerberg really doesn't want to appear before European politicians and explain the firm's recent privacy scandals, but he's happy spending billions to quietly influence their views.
Facebook spent a record figure on its European lobbying operations in 2017, as it tried to stave off multiple crises such as fake news, the spread of hate speech, and incoming privacy regulation.
According to European transparency filings published this week, the company doubled its lobbying spend in 2017 to as much as €2.5 billion ($3 billion, £2.1 billion), up from around €1.2 billion ($1.5 billion, £1 billion) in 2016. It also increased the number of lobbyists from 10 to 15 staffers.
The cash covers every aspect of Facebook's lobbying costs, including wages, office and admin expenses, operational expenditures, and fees paid out to consultancies and trade associations.
According to historical filings collated by LobbyFacts, Facebook spent less than €500,000 ($616,000, £434,000) on EU lobbying in 2011. That this has increased four-fold indicates heightened European scrutiny of Facebook and other tech giants.
While the Cambridge Analytica data scandal is Facebook's biggest crisis yet, governments were already turning the screw on Facebook in 2017.
The company was under pressure to explain how Russian trolls used its platform to spread misinformation during the US presidential election in 2016.
In Europe, Russian intelligence officials tried to use Facebook to spy on French president Emmanuel Macron. In the UK, MPs asked Facebook again and again how hate speech kept appearing on its platform. And Germany introduced strict new laws governing how quickly social media sites had to remove hate speech before paying massive fines.
This year won't be any easier, or cheaper. Facebook has begun rolling out privacy updates to comply with the General Data Protection Regulation (GDPR). If Europe finds Facebook wanting, data regulators will have the power to fine the firm up to 4% of its annual turnover.
An EU politicians would still like to see Mark Zuckerberg in person over the Cambridge Analytica scandal, rather than his policy underlings. After European Parliament president Antonio Tajani called on Zuckerberg to explain himself before the assembly, Sheryl Sandberg planned to meet with officials to discuss the firm's privacy policies this month.
LONDON — The CEO of one of Britain's largest retail banks sees four big factors driving change across the financial services industry over the next few years: changing customers expectation, technological innovations, competition, and regulation.
Lloyds CEO Antonio Horta Osorio gave a keynote speech entitled "The Bank of the Future" at Imperial University Business School's Future of Finance conference in London on Thursday. Lloyds is one of the so-called "Big Four" in the UK, with 30 million customers in the UK. The bank has a market cap of £47 billion ($67 billion).
"I see four main factors driving change for financial services over the next few years," Horta Osorio said.
Here are the big change drivers he sees on the horizon:
Hello! Here's what's happening on Friday.
1. Former FBI director James Comey's private memos have been released to Congress. Among the claims: US President Donald Trump wants to put journalists in jail for leaks, and Russia's Vladimir Putin reportedly told Trump that Russia has the world's most beautiful hookers.
2. North Korean leader Kim Jong Un appears to be making huge concessions before meeting with President Trump. South Korea's president said Kim essentially wants nothing in return for denuclearization, a highly unusual claim.
3. The Chinese navy challenged Australian warships in the South China Sea. The interaction is believed to have occurred at about the same time as China's largest-ever naval parade earlier this month.
4. And this week China flew nuclear-capable bombers around Taiwan. Taiwan earlier accused China of using "cheap verbal intimidation and saber rattling" during live-fire drills in the Taiwan Strait.
5. London will lose its crown as the world's leading financial center within five years. A majority of professionals surveyed said they believe London will lose its top status by 2023.
6. Syrian air defenses fired dozens of missiles in response to the US-led strike, but most launched after the strike ended. Russia and Syria claimed their missile defenses had downed 71 of the 105 missiles from the US and allies, a bold claim considering they're only known to have fired 40 interceptors.
7. Two people died after a plane crashed near Belfast Airport in Ireland. Police have not yet identified the deceased in the light aircraft crash.
8. US bank Wells Fargo is nearing a $1 billion settlement for loan abuses. The US currency comptroller proposed Wells Fargo pay a penalty to resolve probes into auto insurance and mortgage lending abuses.
9. A parking space in Hong Kong just broke a property record. Hong Kong is the second-wealthiest city in the world and offers some of the priciest real estate.
10. Mars colonists will get blasted with radiation levels eight times higher than government limits on Earth. NASA and SpaceX have both stated they are working to send people to Mars.
North Korea and South Korea will take turns rehearsing for next week's historic summit in the "truce village" of Panmunjom.
The Inter-Korean summit will be the first meeting between leaders of the two countries in more than a decade with Kim Jong Un and Moon Jae-in meeting at Peace House on South Korea's side of the Demilitarized Zone (DMZ).
Ahead of the meeting, South Korea will use the building to hold rehearsals on Tuesday and Thursday next week. And, according to Moon's spokesman Kim Eui Keyom, North Korea will also hold rehearsals in the same building on Tuesday or Wednesday.
Organizers from the South's preparatory committee, which is overseeing the agenda, communication, promotion, and operational support of the summit will attend on Tuesday, while Thursday's rehearsal will be more detailed. To prepare for the event, South Korea has been refurbishing the building with extra security measures and a new paint job.
It will also create two situation rooms, one on the third floor of the Peace House and a second for Moon's presidential office in the nearby Freedom House.
A third situation room will be established in another city to host the 2,800 journalists who have registered to cover the summit, more than twice as many as at the last two summits in 2000 and 2007. The Koreas have also agreed to stream some of the summit live.
Ahead of the April 27 meeting, Moon and Kim are expected to speak over the phone. A direct phone line will be established on Friday but a date for the call has yet to be confirmed.
It's unknown how Kim will arrive at the Peace House, but officials are reportedly preparing for him to make the symbolic walk across the DMZ, a first for any North Korean leader.
Mercer has released its Quality of Living Index, which looks at the cities that provide the best quality of life.
The ranking is one of the most comprehensive of its kind and is carried out annually to help multinational companies and other employers to compensate employees fairly when placing them on international assignments, according to Mercer.
Looking at 450 cities across the world, Mercer takes into account the following metrics to judge which cities made the list for the best quality of life — which therefore shows what it feels are the best and worst:
The cities with the best quality of life are, broadly speaking, large conurbations in the Western world, with a handful in east Asia and Australia. But where are the major cities with the worst quality in world?
Business Insider decided to take a look at the bottom of Mercer's ranking, which features a large number of cities in Africa and the Middle East, where war, disease and poor infrastructure have lowered the quality of life significantly.
Take a look below:
23. Addis Ababa, Ethiopia — The capital city is going through a building boom but many of its citizens are suffering from extreme poverty.
22. Harare, Zimbabwe — Zimbabwe is in the midst of unprecedented upheaval following the retirement of long-time leader Robert Mugabe, and Harare remains a highly volatile city.
21. Ashgabat, Turkmenistan — Blighted by chronic water shortages, Ashgabat is an exceptionally hard place to live at times.
See the rest of the story at Business Insider
LONDON — UK regulators have decided Barclays CEO Jes Staley must pay a fine for his attempts to try and identify an internal bank whistleblower back in 2016.
Barclays announced on Friday that the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) had concluded their year-long investigation into the incident.
They decided that the incident "represented a breach of Individual Conduct Rule 2 (requirement to act with due skill, care and diligence) and each have proposed that he pay a financial penalty."
Barclays will also have to "report to the FCA and PRA on certain aspects of their whistleblowing programmes," as part of the settlement.
Barclays' board was sent an anonymous letter in 2016 raising concerns about Staley's decision to hire a senior executive. The letter raised questions about the executive's past, according to the Telegraph. In response, Staley asked Barclays internal security chief to try and identify the person or persons behind the letter. It is this decision to go after an anonymous whistleblower that has got Staley in trouble.
The FCA and PRA said in a joint statement supplied to Business Insider on Friday: "The FCA and the PRA have now concluded investigations into the CEO of Barclays and Barclays Bank Plc. We have issued draft warning notices in respect to the CEO and will announce the outcome once this issue has reached a conclusion."
Both regulators declined to comment on how much Staley would have to pay.
Barclay's board have already issued Staley with a "formal written reprimand" and said they will make "a very significant compensation adjustment" to his bonus.
The board said on Friday that it "continues to have unanimous confidence in Mr Staley and continues to recommend his re-election as a Director at the Barclays Annual General Meeting on 1 May 2018."
Staley now has a period to challenge the finding of the FCA and PRA, and argue his side of the case before a final fine is set.
NOW WATCH: Investors need to lower their expectations
LONDON — Theresa May personally intervened to ensure the language on the Home Office's notorious "go home or face arrest" immigration vans was "toughened up," a former senior Home Office official has told Business Insider.
The prime minister's former chief of staff Nick Timothy wrote in the Telegraph this week that the decision to approve the controversial billboard vans, which were targeted at undocumented migrants in 2013, had been approved while the then home secretary was on holiday in Switzerland and that she had actually been opposed to their use.
However, a former senior home office official who was involved in the discussions at the time, has told Business Insider that the then Home Secretary had actually spoken to aides about the vans while she was away and insisted that the language on them be "toughened up."
Timothy, who was May's adviser at the time, claimed on Thursday that May had "opposed" the proposals.
"Theresa May was criticised for the notorious "go home or face arrest" vans that were deployed in 2013," Timothy wrote.
"In fact she blocked the proposal, but it was revived and approved in a communications plan while she was on holiday. She killed off the scheme later that year but by then the damage had been done."
In my column today I also reveal the truth about the notorious "go home or face arrest vans": TM was opposed to them and they were approved while she was on holiday in 2013. pic.twitter.com/E9RYGldCcB— Nick Timothy (@NickJTimothy) April 19, 2018
However, the former Home Office source told BI that emails at the time suggest May had actually discussed the vans with her advisers while away.
And not only did she approve the proposals, May also requested that the language of the slogans was "toughened up" before the vans were rolled out.
"The submission had gone to the Home Secretary outlining what was happening with the vans," the source told BI.
"The email came back that said the Home Secretary had been spoken to on holiday in Switzerland and the wording was slightly changed. It had been toughened up slightly."
Asked about Timothy's claims in the Telegraph, the source replied that he was "either being untruthful or forgetful."
Home Office emails seen by Bloomberg also suggest that May was actively behind the project. According to their report May and her special advisers were sent plans and publicity images for the vans as early as March 2013. The emails suggest that May’s then private secretary Matthew Bligh warned that the images were possibly too soft on illegal immigrants.
"The Home Secretary has commented that it is right to advertise enforcement action but we should not be advertising that we will pay people to leave, which is the effect of the proposed advertisements," he wrote according to Bloomberg.
"Please can officials consider how the material can be revised to get the messaging right and not expose the Agency to criticism for giving tax payers’ money to illegal migrants?"
Downing Street sources distanced themselves from Timothy's comments on Thursday, endorsing official accounts that May had been aware of the project being approved at the time.
A spokesperson for the Home Office declined to comment when contacted by Business Insider.
The row comes as May comes under fire for her involvement in the Windrush citizens scandal and her wider involvement in creating a so-called "hostile environment" for immigrants in the UK.
At some point in your life, you've probably been described as an extrovert or an introvert. It's true that many of us place ourselves in one of those two categories — or somewhere in the middle if you're an ambivert.
These labels were coined in the 1920s by the psychologist Carl Jung. He said the differences between these personality types are essentially down to energy. Extroverted people often receive energy by social interactions, while introverts need time alone to recharge.
But nobody is entirely one or the other — introverts enjoy social occasions too, and extroverts will enjoy reading a book somewhere quiet from time to time. What is clear is that some people are more on one end of the scale than the other.
Linda Blair, a clinical psychologist, told Business Insider that your level of introversion or extroversion is actually in your DNA. In other words, you can't change it.
"It has to do with what's called the need for arousal," she said. "This is not sexual arousal, but it's a need to be stimulated before you act — before you can do what you want to do."
Introverts have a lot of the chemical that makes them feel stimulated. Extroverts don't have so much. This is why introverts tend to avoid crowded places or deadlines — things that are likely to put extra pressure on them — because they already have pressure within themselves.
Extroverts don't have enough of this arousal chemical. So to complete things or have a good time, they need to feel like they are ready for action, and seek out places where there's pressure.
"It has nothing to do with confidence, it has to do with pressure and arousal," Blair said. "How extroverted or introverted you are is something you need to wear. You need to work with it, live with it, and use it to your advantage."
German psychologist Hans Eysenck came up with this biological explanation for introverts and extroverts a few decades ago. It essentially means that if an introvert is in a loud restaurant or a crowded office, they will easily get overstimulated and overwhelmed. An extrovert requires these highly stimulating environments to get them to do anything.
Another theory states that it's all about reward systems, discussed in this paper from 1970. It suggests that extrovert brains are more sensitive to rewards, like making someone laugh in a social interaction. Introverts don't seek out these rewards.
Other studies have shown how extroverts pay more attention to human faces than introverts, and how introverts have a higher level of brain function in regions associated with learning, vigilance, and motor control.
There are many ways the brains of introverts and extroverts have been shown to be different. There are also studies that show differences in behaviour. For example, extroverts talk more abstractly, and introverts more concretely, and extroverts have an advantage with speaking and and reading a new language, while introverts are better at listening to it.
As Blair said, this doesn't necessarily mean extroverts are happier or even more confident. It's simply a different way of living. After all, two people can go to a party and stay there for entirely different motivations.
"To show confidence doesn't mean you have to go out and mix with crowds," she said. "To show confidence, it may be that you choose to be alone. Psychology is all about not what you do but why."