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Here's how Amazon could dethrone UPS and FedEx in the US last-mile delivery market (AMZN)

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This is a preview of a research report from Business Insider Intelligence, Business Insider's premium research service. To learn more about Business Insider Intelligence, click here. Current subscribers can read the report here.

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Outside of the US Postal Service (USPS), FedEx and UPS have dominated the domestic logistics industry — and in particular, the last-mile of the delivery — for decades. On a quarterly earnings call in 2016, FedEx estimated that itself, UPS, and USPS executed a whopping 95% of all e-commerce orders.

But rapidly rising volumes have put the pair of legacy shippers in a bind. E-commerce sales have risen over 50% and are projected to continue their ascent into the next decade. High volumes are already straining shippers' networks — UPS struggled to bring consumers their parcels on time due to higher-than-anticipated package volume, which upset some big-name retail partners, including Macy's, Walmart, and Amazon. As online sales surge further, package volumes will outstrip legacy shippers' capacities, creating space for new entrants. 

Amazon is uniquely well-positioned to dethrone UPS and FedEx's duopoly. It's built up a strong logistics infrastructure, counting hundreds of warehouses and thousands of delivery trucks.

Further, as the leading online retailer in the US, it has a wealth of data on consumers that it can use to craft a personalized delivery experience that's superior to UPS and FedEx's offerings. Amazon must act soon, however, as UPS and FedEx are hard at work fortifying their own networks to handle the expected surge in parcel volume.

The longer the Seattle-based e-tailer delays the launch of a delivery service, the more it runs the risk that these legacy players will be able to defend their territory. 

In a new report, Business Insider Intelligence, Business Insider's premium research service, explains how the age of e-commerce is opening up cracks in UPS and FedEx's duopoly. We then outline how Amazon's logistics ambitions began as an effort to more quickly get parcels out the door and fulfill its famous 2-day shipping process and how it'll be a key building block for the company if it builds out a last-mile service. Lastly, we offer concrete steps that the firm must take to maximize the dent it makes in UPS and FedEx's duopoly.

The companies mentioned in this report are: Alibaba, Amazon, FedEx, and UPS.

Here are some of the key takeaways from the report:

  • While UPS and FedEx have dominated the US last-mile delivery market for the last few decades, the surge in e-commerce is creating more volume than shipping companies can handle.
  • Amazon is uniquely well-positioned to put a dent in UPS and FedEx's duopoly due to its strategic position as the leading online retailer in the US.
  • Amazon can carry its trust amongst the public, a wealth of consumer data, and its ability to craft a more personalized delivery experience to the last-mile delivery space to ultimately dethrone UPS and FedEx.
  • The top priority for Amazon in taking on UPS and FedEx needs to be offering substantially lower shipping rates — one-third of US retailers say they'll switch to an Amazon shipping service if it's at least 20% cheaper than UPS and FedEx. 

In full, the report:

  • Outlines Amazon's current shipping and logistics footprint and strengths that it would bring to the last-mile delivery space in the US.
  • Lays out concrete steps that Amazon must take if it wants to launch a standalone last-mile delivery service, including how it can offer a more memorable, higher-quality delivery experience than UPS and FedEx.
  • Illustrates how Amazon can minimize operating costs for a delivery service to ultimately undercut UPS and FedEx's shipping rates in the last-mile space.

 

SEE ALSO: Amazon and Walmart are building out delivery capabilities

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An elementary school in Virginia had students play a 'game' that evoked escaping slavery and parents are upset

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Empty classroom (file)

  • An elementary school in Virginia is facing criticism from parents and the Loudoun NAACP chapter over a portion of its Black History Month curriculum.
  • Madison's Trust Elementary School students in grades 3 through 5 were taught about the Underground Railroad in gym class, where the lesson was reimagined as a "game."
  • Some parents felt that because the "game" was to avoid obstacles — as if escaping slavery through the Underground Railroad — students were assuming the role of runaway slaves.
  • "The lesson was culturally insensitive to our students and families," Principal David Stewart said in a letter to parents. "I extend my sincerest apology to our students and school community."

An elementary school in Virginia apologized after facing criticism from parents and the Loudoun NAACP chapter over an aspect of its Black History Month curriculum.

Madison's Trust Elementary School students in grades 3 through 5 were taught about the Underground Railroad in gym class through a "game" where kids, including African-American students, had to go through an obstacle course, according to a local NBC News affiliate WRC-TV.

Wayde Byard a Loudoun County Public School spokesperson told the Loudoun Times-Mirror that students were not assigned roles as "slaves" or "slave owners" for the game. However, some parents felt that because the concept of the activity was to avoid obstacles, as if escaping slavery through the Underground Railroad, students were assuming the role of runaway slaves, the Times-Mirror said. INSIDER contacted the school system for more information.

At least 10 families in the Loudoun County Public Schools system complained, Byard told WRC-TV. Parents also brought the issue to the attention of the local NAACP chapter and its president, Michelle Thomas.

Read more:Gucci has apologized after people suggested its $900 sweater looked like blackface

"It's awful," Thomas told WRC-TV. "It's really insulting. It makes me feel unsafe because I have kids in Loudoun County Public Schools."

Madison's Trust Elementary School Principal David Stewart apologized in a letter sent out on February 12.

"The lesson was culturally insensitive to our students and families," Stewart said in the letter. "I extend my sincerest apology to our students and school community."

He said in the letter that the specific part of the curriculum would be re-taught "to ensure that all the students have a full understanding of the material, within an appropriate and respectful context."

Speaking to the Times-Mirror, Thomas said that this was not the first incident like this within the Loudoun County Public School system.

"Slavery was not a joke," Thomas told school board last week, the Times-Mirror reported. "You didn’t get to choose."

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Police are investigating an alleged assault that reportedly left a conservative activist with a black eye on the UC Berkeley campus

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  • Police are investigating the alleged assault of a man who was helping recruit members for a conservative organization at UC Berkeley in California on Tuesday afternoon.
  • Hayden Williams said he was invited to the campus by Turning Point USA, a pro-Trump student advocacy group, to "help organize and train conservative activists."
  • Williams claimed that his recruitment drive took a sharp turn after "some students took offense" to a political sign at the event.
  • Video footage of the incident appears to show an altercation between several people, during which Williams is punched in the face.

Police are investigating the alleged assault of a man who was helping recruit members for a conservative organization at UC Berkeley in California on Tuesday afternoon.

Hayden Williams, a member of the conservative Leadership Institute, said he was invited to the campus by Turning Point USA, a pro-Trump student advocacy group, to "help organize and train conservative activists."

In a Fox News interview with Sean Hannity on Thursday night, Williams claimed that his recruitment drive took a sharp turn after "some students took offense" to a political sign at the event. The organization's signs, one of which said "hate crime hoaxes hurt real victims," reportedly included themes from President Donald Trump's "Make America Great Again" campaign.

Two people took notice of the signs, one of whom claimed Williams was "promoting violence," according Williams' account of the incident. Williams claimed one person approached his table and "proceeded to take his aggression out on us."

Williams said he began recording the incident after six to seven seconds into the encoun.

"As soon as the gentleman, and I use that term lightly, approached our table and began acting very erratic, I feared for my own safety so I started to record at that moment," Williams said.

"And that's when I knew that this was probably a troublesome situation," Williams added. "So I pulled out my phone to start recording, and his friend ... smacked my phone out of my hand."

Video footage of the incident appears to show an altercation between several people, during which Williams is punched in the face.

Another video of the incident shows what appears to be Williams and a man in a black shirt struggling to hold on to a jacket. After a brief struggle, the man alleges Williams made physical contact and taunts: "Put your hands on me again, motherf---er."

As Williams looked downward at his phone to record the altercation, the man in the black shirt punches him in the face.

Police records show it was investigating an incident reported Tuesday at around 3:29 p.m. involving a "victim of battery." The identity of the man in the black shirt was not yet known to police as of Thursday night, and it was unclear whether he is a student, according to a UC Berkeley press release on Thursday. It was also unclear if Williams is a student at the campus.

"Let there be no mistake, we strongly condemn violence and harassment of any sort, for any reason," chancellor Carol Christ said in a statement. "That sort of behavior is intolerable and has no place here."

"Our commitment to freedom of expression and belief is unwavering," Christ added.

In recent years, the city of Berkeley and its prestigious campus — known for its promotion of free speech since the 1960s — were involved in political controversy after cancelling speaking engagements from conservative personalities, including columnist Ann Coulter and provocateur Milo Yiannopoulos.

In August 2018, more than a dozen people were arrested after protests erupted during a right-wing rally in Berkeley. At one point before the protests, police banned baseball bats, ice picks, and flags with poles from several locations within the city, according to the Los Angeles Times.

SEE ALSO: UC Berkeley police brace for unrest despite canceled Ann Coulter speech

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10 things in tech you need to know today

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Bowser

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

  1. Pinterest has reportedly filed for an IPO that could value the company at $12 billion. Pinterest has filed a confidential S-1 and has its eye on a June IPO, according to the Wall Street Journal.
  2. Goldman Sachs and Apple are reportedly partnering to launch a new iPhone-linked credit card, the Wall Street Journal reported on Thursday. The card will reportedly give customers additional features in Apple's wallet app and allow them to "set spending goals, track their rewards, and manage their balances."
  3. Google is ditching its mandatory arbitration policy after a mass protest by employees. Forced arbitration is a corporate practice whereby upon their hiring, employees waive their right to take some employer disputes to court, and instead must settle the matters privately.
  4. Employees keep dumping Facebook's free bikes in surrounding neighborhoods, and police are hassling local kids who try to ride them. It seems that in some cases Facebook employees are riding the bikes into town then leaving them, while in other cases they're being stolen from Facebook's offices, residents said.
  5. YouTube purged over 400 channels and millions of videos in response to rising concerns about child exploitation. A recent video from YouTuber Matt Watson exposed a "wormhole" of users making predatory comments on videos of children, where they traded contact information, and links to unlisted videos of child porn.
  6. The AI tech behind scary-real celebrity deepfakes is being used to create completely fictitious faces, cats, and Airbnb listings. A new crop of websites shows the disturbing potential of deepfake technology.
  7. Democratic presidential candidates are tearing into Google for the hidden Nest microphone, and calling for tech gadget "ingredients" labels. With Tuesday's news that Google failed to let consumers know about a hidden microphone in its Nest security devices, some Democratic candidates took the opportunity to voice their stances on consumer privacy.
  8. After topping Wall Street's estimates, Roku is in "a strong position" to take on Amazon and other rivals, says its CFO. Roku, which has transformed itself into an ad-based business, is in a prime position to compete in the free streaming video market, Steve Louden, its chief financial officer said.
  9. Facebook will remove its Onavo app from the Google Play store following backlash after a TechCrunch report on how code from Onavo was being used in a paid research app which collected teens' data. Facebook's research app was booted off Apple's App store, and the company has stopped recruiting for it, TechCrunch reports.
  10. Samsung's Galaxy Fold smartphone is meant to be shipping in 2 months, but the company hasn't actually shown a physical device to press or analysts yet. That suggests ongoing tweaks to the design and, maybe, a conviction that almost no one will buy it.

Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.

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Ninth Labour MP quits 'broken' Labour party in protest against Jeremy Corbyn's leadership

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Labour leader Jeremy Corbyn gestures, during a visit to discuss cuts to bus services, in Derbyshire, England, Thursday, Jan. 31, 2019. Bus fares are set to

  • Labour MP Ian Austin becomes the ninth to quit the party this week, blaming a "culture of extremism, anti-Semitism and intolerance."
  • "The hard truth is that the party is tougher on the people complaining about anti-Semitism than it is on the anti-Semites," Austin said.
  • Austin will not join the breakaway Independent Group of MPs which seven Labour MPs and three Tory MPs joined this week.
  • The Labour party calls on Austin to quit his seat and fight a by-election.

LONDON — Ian Austin has become the ninth Labour MP to quit the party this week in protest at Jeremy Corbyn's leadership and handling of allegations of antisemitism.

The Dudley North MP, who was elected in 2005, said he had become "ashamed of the Labour Party under Jeremy Corbyn" and accused the leadership of being tougher on those who complain about anti-Semitism than on the perpetrators of abuse.

"I am appalled at the offence and distress Jeremy Corbyn and the Labour Party have caused to Jewish people," he told his local newspaper the Express and Star.

"It is terrible that a culture of extremism, anti-Semitism and intolerance is driving out good MPs and decent people who have committed their life to mainstream politics."

"The hard truth is that the party is tougher on the people complaining about anti-Semitism than it is on the anti-Semites."

However, he said he had no plans to join the Independent Group of MPs which eight Labour MPs and three Tory MPs joined this week.

Unlike the Independent Group MPs, Austin is a supporter of Brexit and is unlikely to join the group whose members are callling for a second referendum.

A spokesperson for Jeremy Corbyn called on Austin to resign his seat and fight a by-election.

"We regret that Ian Austin has left the Labour Party. He was elected as a Labour MP and so the democratic thing to do is to resign his seat and let the people of Dudley decide who should represent them," they said.

Allegations of anti-Semitism have dogged Corbyn's Labour party since he became leader in 2016 with growing numbers of complaints about abusive and racist behaviour by current members.

Luciana Berger, a Jewish MP who quit Labour this week after branding the party "institutionally antisemitic", tweeted her support for Austin saying: "I fully understand why Ian Austin has come to this difficult and painful decision."

She was backed by her fellow Independent Group MP Chuka Umunna, who tweeted that he had "massive respect" for Austin "for making this incredibly difficult decision - it’s painful and hard but he has stayed true to his values and what he believes to be the national interest."

Both the Labour and Conservative parties are braced for further resignations over the coming days and weeks with two senior Conservative backbenchers warning this week that they could leave their party.

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T-Mobile is outpacing the rest of the Big Four US carriers on value, loyalty, and satisfaction — here's what consumers say is most important when selecting a mobile provider (TMUS, S, VZ, T)

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


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Although competition in the US wireless carrier market remains fierce, the price war among the Big Four US carriers — Verizon, AT&T, T-Mobile, and Sprint — began to cool over the past year.

In an attempt to avoid further competition on price, carriers began shifting their focus to adding value to their mobile plans with new offerings to differentiate from the competition. This helped average revenue per user (ARPU) start to stabilize across all carriers in Q1 2018, after declining over the last two years.

The Big Four have now begun reshuffling their unlimited plans to lure subscribers by providing more options. This strategy has been unrolling in two flavors: introducing new, expensive unlimited plan tiers loaded with an array of features and choices, while also catering to price-sensitive customers with more affordable plans that strip away extra perks like free digital content and international coverage. As a result, a new battleground is emerging, with differentiation now coming down to the value loaded in their mobile plans.

Looking forward, the US carrier market will see competitive pressure pick up due to a number of trends: 

  • The US smartphone market is creeping toward saturation. Penetration in the US hit 85% in 2018, up from 82% in 2017 and 77% in 2016.
  • eSIM technology is making it easier for consumers to switch carriers. eSIM technology is a nonphysical SIM card slot that pairs with the physical SIM card to enable dual-SIM functionality — allowing customers to switch carriers without changing to a different SIM card or device.
  • And cable mobile virtual network operators (MVNOs) are edging in on US carriers' share of wireless adds. Cable MVNOs, such as Comcast's Xfinity Mobile and Charter's Spectrum Mobile, are expected to snag roughly 50% of total wireless customer net adds, or about 2.2 million subscribers, by 2020.

All of this means fostering loyalty and winning over new subscribers is more important than ever for the Big Four, making it crucial for these mobile carriers to understand consumer sentiment around their services.

In this report, Business Insider Intelligence uses consumer survey data from our proprietary panel, collected during 2017 and 2018, to evaluate which features are most important to consumers when selecting a mobile provider, as well as to determine which features would convince them to switch to the competition. It contains insights that can help telecoms guide strategic investment and marketing decisions to win and retain customers in this increasingly competitive space.

The companies mentioned in the report are: AT&T, Amazon, Apple, Charter, Comcast, Hulu, Netflix, Pandora, Sprint, T-Mobile, Tidal, and Verizon.

Here are some key takeaways from the report:

  • T-Mobile came out on top again, outpacing the rest of the Big Four US carriers on value, loyalty, and satisfaction. T-Mobile customers want to see coverage improvements, though. 
  • Verizon customers don't see much more value in its offerings than a year ago.
  • AT&T was the only carrier to show declines in all capacities. 
  • Sprint is still a good deal, but it doesn't offer much else.
  • When it comes to features, subscribers still value the basics most. However, demand for international coverage is growing.
  • 5G is the next major battleground for the Big Four, and the winner of the 5G race has the potential to leap ahead in customer volumes. 

 In full, the report:

  • Determines the features that are most important to consumers when selecting a mobile provider.  
  • Identifies which features are nice to have or essential in consumers' willingness to switch carriers. 
  • Examines consumers' feelings on emerging technologies and trends in the mobile industry, such as 5G, new network-connected devices, and the T-Mobile-Sprint merger.

 

SEE ALSO: 5G in the IoT: How the next generation of wireless technology will transform the IoT

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Theresa May to be hit by multiple Brexit rebellions as Conservative MPs threaten to 'end the government'

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  • Theresa May is facing a massive rebellion from moderate MPs who are desperate to take the prospect of a no-deal Brexit off the table.
  • Up to 100 MPs and 25 ministers are considering voting against the government next week in a series of crunch votes on Brexit to support a plan which would require the prime minister to seek an Article 50 extension.
  • The Brexit Delivery Group of both Leave and Remain MPs warned in a letter that growing numbers of MPs were preparing to support the plan.
  • Ministers are also prepared to resign to support it.

LONDON — Prime Minister Theresa May is about to be hit by major rebellions from both wings of the Conservative party as up to 100 moderate MPs prepare to try and force a no-deal Brexit off the table, while Brexit-supporting MPs threaten to "end the government" if she does so.

As the UK's scheduled EU departure date on March 29 edges closer, the prime minister is poised to suffer a huge rebellion from pro-Remain MPs, including dozens of ministers, who could vote for an amendment which seeks to remove take no deal off the table.

The Brexit Delivery Group, which represents both Leave and Remain supporting MPs, said in a leaked letter that "numerous" MPs were "deeply troubled" by the prospect of leaving without a deal, and would be voting for amendments to the prime minister's plan which force the prime minister to delay Brexit if she couldn't secure parliamentary support for her deal.

"Numerous members of our group have alerted us to their intention (should rejection of the deal look likely) to get behind amendments that are planned in the name of Oliver Letwin and others and which will have the twin effect of taking no deal off the table and delaying Brexit."

Up to 25 ministers, including as many as four Cabinet ministers, are also understood to be considering voting against the government on the amendment, which would seek to force Theresa May to avert a no-deal Brexit by setting aside parliamentary time for a bill which compelled her to ask the EU for an Article 50 extension.

Informal Brexit talks with the EU have been scheduled for a summit in Egypt on Sunday, although Downing Street has dismissed suggestions of a formal breakthrough then.

Brexiteers threaten to 'end the government'

LONDON, ENGLAND - NOVEMBER 15: Jacob Rees-Mogg speaks to the media after submitting a letter of no confidence in Prime Minister Teresa May on November 15, 2018 in London, England.

Meanwhile the European Research Group of hardline Tory Brexiteers threatened to "end the government"  if Theresa May delays the UK's EU departure, the FT reported.

Members of the group, which counts around 60 MPs, said they would paralyse Theresa May's administration by refusing to vote for any legislation.

"If she said she’d extend Article 50, there’d be 20-plus [ERG] MPs who would just take their bat and ball home: no domestic legislation, no Brexit legislation, they just wouldn’t be showing up any more,” one ERG MP told the paper.

"It would effectively end the government . . . [Mrs May] has been absolutely firm for months and months we leave on the 29th [March] . . . If she went back on that . . . there would be carnage."

Andrew Percy, a Brexit supporter who backs the prime minister's deal, claimed Brexiteers who opposed it were in "total denial about the parliamentary arithmetic."

"The game they have thus far been playing is not going to end well for them," he added. "It could perhaps end with no Brexit, which a lot of us have spent our whole careers campaigning for."

There is a growing sense among centre-ground Conservative MPs that Brexiteer MPs are starting to come back to supporting May's deal.

"The dynamics among the the ERG [pro-Brexit European Research Group of Conservative MPs] is changing," one moderate Conservative MP told Business Insider last week.

"The ERG are splintering and lots of them are coming around to the deal through gritted teeth."

They added: "I say to them 'look you're playing a really dangerous game here that may end up in no Brexit at all' and while some of them still aren't listening to that argument, lots of them are now starting to."

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Alexandria Ocasio-Cortez says the abuse she gets from Twitter trolls is 'validation that you're doing something real', and that their memes are 'so weak'

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Alexandria Ocasio-Cortez Desus & Mero

  • Alexandria Ocasio-Cortez said that she thinks of Twitter abuse as confirmation she is "doing something real."
  • Ocasio-Cortez said it has never been her plan to end up "flying under the radar."
  • "Like what is the point In doing things If you’re just trying to maintain a status quo that doesn’t help people?," she told Showtime's "Desus & Mero" TV show.
  • She also said that memes criticizing her are "weak" and asked about those who make them: "How do you have a computer that runs both Windows ‘95 and Twitter at the same time?"

Rep. Alexandria Ocasio-Cortez said that abuse she receives on Twitter does not bother her because it's "validation that you’re doing something real."

She also took aim at people who use memes to criticize her, saying that their efforts are "so weak."

Ocasio-Cortez was asked on Showtime's"Desus & Mero" show whether she ever regretted entering politics because of attacks from "Twitter trolls" and "Russia bots."

She replied: "No. no. I mean, it’s heavy. But in a weird way that stuff is validation that you’re doing something real." She was speaking on the show with comedy duo Desus Nice and The Kid Mero, who are also Bronx natives.

Ocasio-Cortez continued: "Because if you’re just flying under the radar, just trying to get your check, like not rock the boat, then what’s the point in being in politics?

Read more:Twitter CEO Jack Dorsey says Alexandria Ocasio-Cortez is 'mastering' the platform

"Like what is the point in doing things if you’re just trying to maintain a status quo that doesn’t help people?"

As well as broadly dismissing the effect of Twitter criticism, Ocasio-Cortez also took aim at her critics' meme skills, describing the efforts she sees in her timeline as "so weak."

She asked: "How do you have a computer that runs both Windows ‘95 and Twitter at the same time?"

Ocasio-Cortez's stratospheric political rise has earned her many fans on the left and detractors on the right.

Read more:Twitter is the most popular social media platform for members of Congress — but prominent Democrats tweet more often and have larger followings than Republicans

The New York Democrat has a prolific presence that has even been praised by Twitter CEO Jack Dorsey, who said in February that she has "mastered" Twitter.

Alexandria Ocasio-Cortez Desus Nice and The Kid Mero Desus & Mero.

Ocasio-Cortez is the most-followed member of Congress by a large margin, and she has hosted a Twitter class for other Democrats.

She has previously said the volume of criticism she gets is a sign that her detractors are afraid of her message.

In February, she said that Trump's criticism of socialism during his State of the Union address was evidence that he was "scared" of her popularity.

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Shares in a mysterious Hong Kong investment company have jumped 8500% in 5 years, and no one really knows why

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  • Investors in Hong Kong are baffled by the wild success of the share price of a loss-making investment firm in the city state, which has seen its stock increase by close to 9000% in recent years, seemingly without a catalyst.
  • China Ding Yi Feng Holdings Ltd, an investment holding company, has seen shares increase 8563% in the last five years, but no one really knows why.
  • "Fundamentals do not support the stock’s rally at all," Li Yuanrong, managing director of Shenzhen-based venture capital firm 20VC told Bloomberg.

Investors in Hong Kong are baffled by the wild success of the share price of a loss-making investment firm in the city state, which has seen its stock increase by close to 9000% in recent years, seemingly without a catalyst.

Shares in China Ding Yi Feng Holdings Ltd, an investment holding company based in the International Commerce Centre, Hong Kong's tallest building, have rallied 8563% in the past five years, according to a report from Bloomberg Friday.

For reference, shares in Amazon have risen about 340% in the last five years, while Apple has seen its stock increase 125%.

The wild gains, however, have some scratching their heads. "Fundamentals do not support the stock’s rally at all," Li Yuanrong, managing director of Shenzhen-based venture capital firm 20VC told Bloomberg.

The company has reportedly nursed losses for seven of the last eight years.

Read more:A bunch of stocks in Hong Kong crashed 70% without warning — and no one really knows why

China Ding Yi Feng is headed by chairman Sui Guangyi, a figure described as having "investing skills on par with Warren Buffett and George Soros." Company literature describes Sui as a "legendary figure" and an "influential scholar," Bloomberg said. He owns around 16% of the company's outstanding shares, worth somewhere in the region of $600 million.

Given the size of China Ding Yi Feng, which has a market capitalization of roughly HK$31 billion ($4 billion), it is now included in several indexes put together by the MSCI, meaning that many huge investment funds like BlackRock and Vanguard have stakes in the company, Bloomberg said.

Hong Kong's stock market is no stranger to wild, unexplained occurrences, and in January, investors were left scratching their heads when several Hong Kong-listed companies plunged on a Thursday afternoon, some losing as much as 80% of their value, seemingly with no explanation.

Jiayuan, a property developer, was the worst impacted by the crash, dropping as much as 81%, and seeing more than $HKD25 billion ($3.2 billion) wiped from its market capitalization in a single afternoon.

You can read Bloomberg's full story about China Ding Yi Feng Holdings here.

SEE ALSO: A bunch of stocks in Hong Kong crashed 70% without warning — and no one really knows why

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8% of children experience PTSD by the time they reach 18, according to a new study

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  • Nearly a third of children have experienced trauma, and one in 13 suffers from PTSD.
  • A study of 2,232 children in England and Wales found that those who suffer trauma are twice as likely to have mental health problems.
  • Symptoms of PTSD include reliving negative and scary experiences, distressing nightmares, isolation, and irritability.
  • Half of children with PTSD had self-harmed, and one in five had attempted suicide.
  • But just one in five received the help they needed. The researchers said young people are "falling through the gaps in care."

One in 13 young people could suffer from Post Traumatic Stress Disorder, according to research from King's College London. The study, published in the journal The Lancet, found that 31% of children under 18 had suffered a traumatic experience, and those who do are twice as likely to have mental health problems.

More than 2,000 children born in England and Wales in 1994-1995 took part in the study, and were assessed with interviews.

The researchers concluded that one in four children who had experienced trauma had PTSD when they reported symptoms like reliving negative and scary experiences, distressing nightmares, avoidance of anything that reminded them of the trauma, isolation and detachment, irritability, impulsivity, guilt, and difficulty concentrating. That's nearly 8% of young people overall.

The results also showed that just one in five children had seen a mental health professional and one in three had talked to their GP about their symptoms in the past year.

"Our findings should serve as a wake-up call," said Andrea Danese, a senior researcher at the Institute of Psychiatry, Psychology & Neuroscience. "Childhood trauma is a public health concern yet trauma-related disorders often go unnoticed."

Young people with PTSD are "falling through the gaps in care," she said, so there's an urgent need for them to have better access to mental health services.

The results also showed how young people with PTSD were more likely to have other mental health disorders. For example, half had self-harmed, and one in five had attempted suicide. Half had also experienced social isolation or loneliness.

In December 2018, research from the Office for National Statistics found that 11.3% of children said that they were often lonely, and those who reported low satisfaction with their relationships were more likely to feel alone.

Last July, Childline — a counseling service for young people — said it had received nearly 5,000 calls about loneliness in a year. This was a 14% rise on the previous year.

Read more: Lonely millennials are at a greater risk of developing anxiety and depression — but the reasons for their isolation are unclear

"Young people who have been exposed to trauma often have complex problems, which become increasingly difficult to assess and treat," said Stephanie Lewis, a clinical research training fellow at the IoPPN, and lead author of the study. "Providing effective treatments early on could prevent mental health problems continuing into adulthood."

PTSD can be caused by a range of experiences, from directly experiencing assault, injury, or sexual violation, to watching it happen to someone else. Three-quarters of young people who experienced sexual assault developed PTSD.

The researchers said better identification of the symptoms of PTSD is vital if more young people are going to get the mental health help they need.

"We encourage parents and carers to seek support from health professionals if their children are exposed to trauma and are suffering from distressing psychological symptoms," said Lewis.

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NOW WATCH: Meet the three women who married Donald Trump

'Stocks look like dead money': Here's why any US-China trade deal might disappoint Wall Street

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  • Stocks are likely to falter or drop no matter what happens in US-China trade talks, according to the director of global markets research for index developer FTSE Russell.
  • Alec Young says investors are expecting a big breakthrough in trade talks and might be disappointed if it doesn't happen. But if it does, they'll soon realize that the deal could contribute to higher interest rates.
  • Young said the market has packed a year's worth of gains into less than two months, and stocks might not do much until the summer.

Investors aren't going to like the US-China trade deal, assuming they get one, and the stock market will suffer. That's the verdict of the director of global markets research for index developer FTSE Russell.

Alec Young says that in their excitement for an agreement that ends the trade fight, investors are wandering into a trap: their high hopes make it more likely the trade deal will disappoint them. But if the deal looks great, it could spark enough economic growth that the Federal Reserve starts raising interest rates again, cramping the economy.

"When you look at the different possible scenarios, most of them are negative for stocks," he said, even though trade hopes have been a major contributor to the recent rally. "The market has basically robbed from the future and pulled all of the market's gains for the year into the first couple of months ... Stocks look like dead money for the next couple of months."

FTSE Russell provides indexes and market data, and says about $16 trillion in assets are benchmarked to its indexes. It also provides clients with tools for asset allocation, strategy analysis, and risk management.

Like a lot of investors and experts, Young thinks China will agree to buy more soybeans and other agricultural products from the US, and more liquid natural gas. But investors are hoping for bigger breakthroughs, like a deal that addresses China's alleged theft of intellectual property and its policy of forcing foreign companies to create joint ventures with domestic companies.

If the deal addresses those issues, Young said, investors will also need to see proof that the two sides will take it seriously and the US will be able to verify that China lives up to any promises it makes.

And that won't be enough either: Wall Street expects that the next tariff increases on Chinese imports, which are scheduled to take effect in early March, will be delayed as talks continue. They might not be.

"Investors are pricing in that the tariffs aren't going to go in effect," Young said. "Any disappointment in that is an immediate threat to already soft earnings."

But what if the talks turn into a lovefest and the world's largest economies strike an agreement everyone likes? That might turn into a problem, too.

"If you get really great deal that checks all the boxes, it might spur some knee jerk buying, but it won't take long for investors to think about how that affects the Fed's dovish policy pivot," Young said.

That is, a breakthrough would lead to a rapid improvement in business sentiment that could lead to a surge in spending and faster economic growth. That could send inflation higher, pushing the Fed to start thinking about raising interest rates again — and the threat of higher rates was a big factor in last year's stock plunge.

Since Young says stocks have almost nowhere to go except down, he thinks the market is likely to stagnate or fall unless investors see real evidence that company profits and economic growth are better than they were expected. That might not happen until the summer. But so far, investors haven't waited for proof.

"I've never seen an issue drive the market for so long without any real substance," he said.

SEE ALSO: CREDIT SUISSE: Here's why investors shouldn't assume China's economy is already recovering

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NOW WATCH: There are serious health reasons why you shouldn't eat your boogers

TRANSPORTATION & LOGISTICS STARTUPS TO WATCH: The top 5 startups across digital freight services, warehouse robotics, AI, last-mile delivery robotics, and self-driving cars

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  • Artificial intelligence (AI), robotics, and self-driving technology are helping the transportation and logistics industry finally transform by cutting costs, optimizing delivery routes, and automating mundane tasks.
  • Startups will be the lynchpin of this transformation because they specifically target areas of need  with cutting-edge solutions.
  • Business Insider Intelligence examined the top 5 startups within five key areas: digital freight services, warehouse robotics, AI for supply chain management, last-mile delivery robotics, and self-driving car software.

Transportation and logistics industries have operated largely the same way for decades. But the surge in e-commerce in the last several years, combined with consumers’ appetite for same-day delivery, has brought us to a tipping point.

Total Logistics Costs

Delivery companies are doing all they can to get orders to customers’ doors as quickly as possible, which has facilitated wholesale changes in how they operate.

Cutting-edge digital solutions (including digital freight services, warehouse robotics, AI for supply chain management, delivery robotics, and autonomous driving software) are forcing traditional delivery companies to either evolve or see their core businesses erode.

Transportation & Logistics Startups to Watch, a new report from Business Insider Intelligence, monitors the biggest change agents in the industry to offer unique insight into the development of the transportation and logistics space at large, and shows how traditional companies are adapting to their new environment.

Want to Learn More?

Business Insider Intelligence's Startups to Watch reports give a high-level overview of the funding trends for startups in a particular coverage area, as well as a list of key startups (by function, what they do, key news, and statistics). Businesses need to understand new competitive threats, technologies, and acquisition opportunities in order to thrive. These reports provide that contextual information in an easy-to-digest manner.

In full, the Transportation & Logistics Startups to Watch report dives into the top 25 companies - five startups across five key disruption areas - that are easing shipping burdens, improving order fulfillment efficiency, optimizing delivery, and automating processes.

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SpaceX's Falcon 9 rocket survived a 'spicy' landing at sea after launching the first ever private moon mission

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  • SpaceX's Falcon 9 rocket endured "a rather spicy landing" on Thursday night returning from a successful mission. 
  • During a tense livestreamed landing, SpaceX engineer Jessie Anderson said the rocket survived despite"challenging conditions" on the droneship — a robotic landing platform in the sea.
  • The SpaceX control room erupted with cheers and hollers as the 23-story rocket powered down on the landing craft in the Atlantic.
  • SpaceX CEO Elon Musk tweeted: "Highest reentry heating to date. Burning metal sparks from base heat shield visible in landing video."
  • The rocket was returning from a mission to launch a trio of lunar craft into space, including a $100 million Israeli moon lander from SpaceIL — the first private mission to the moon.

Elon Musk's Falcon 9 rocket made "a rather spicy landing" on a Space X droneship on Thursday night after it successfully launched a trio of lunar craft into space.

Falcon 9 fell back through the earth's atmosphere after releasing its triple payload: SpaceIL's $100 million lunar lander, Indonesia's Nusantara Satu satellite, and a US Air Force research satellite.

A live stream of the mission captured the moment Falcon 9 landed safely back on a SpaceX droneship, a robotic landing platform deployed to see. The droneship is called "Of Course I still Love You."

Falcon 9 landed eight minutes and 48 seconds after taking off from Space Launch Complex 40, Cape Canaveral, Florida.

spacex falcom9

Speaking on the stream, SpaceX manufacturing engineer Jessie Anderson said: "We do have a successful first stage landing despite the challenging conditions here."

In the live streamed video, Falcon 9 is seen emerging from fog and smoke in one piece.

Read more: NASA's first moon landings in nearly 50 years may happen in 2019. The agency thinks these 9 companies can get it to the lunar surface.

Narrating the mission, program reliability engineer Kate Tice said Falcon 9 made "a successful landing — a rather spicy landing attempt — on our droneship Of Course I Still Love You."

spacex drone ship

The US Air Force had said there was a 20% chance Falcon 9 would be delayed because of bad weather.

The 23-story Falcon 9 rocket lifted off on time at 8:45 p.m. ET, despite warnings.

After the landing Elon Musk tweeted: "Highest reentry heating to date. Burning metal sparks from base heat shield visible in landing video."

Watch the landing and full mission here, narrated by SpaceX staff:

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SpaceIL's  "Beresheet" mission is the first-ever private moon landing attempt, started by a Google Lunar XPrize team backed by South African billionaire Morris Kahn. It plans to reach the moon on April 4 and land on April 11.

If the non-profit mission survives its weeks-long trip to the lunar surface, it will make Israel the fourth country ever to pull off a moon landing.

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NOW WATCH: We compared Apple's $159 AirPods to Xiaomi's $30 AirDots and the winner was clear

The US is having a tough time convincing the world's biggest democracy to ditch Huawei

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  • America is having a hard time convincing India to reject Huawei's 5G technology, the Wall Street Journal reports.
  • The US has been lobbying other countries to freeze out Huawei on the grounds that it believes the company could be acting as a proxy for the Chinese government, acting as a backdoor through which to carry out espionage. Huawei denies this.
  • An Indian official told the Journal that Huawei "can't be ignored" because it is at the forefront of 5G technology.

America's international lobbying efforts to curb Chinese phone giant Huawei's growth have hit a brick wall in the form of the world's largest democracy — India.

The Wall Street Journal reported that pressure from the US hasn't been enough to persuade India to pass on Huawei's 5G technology just yet.

The US has been consistently lobbying allied countries to freeze out Huawei from their upcoming 5G networks, as it maintains that the company could act as a proxy for the Chinese government to carry out espionage.

Huawei's founder Ren Zhengfei this week told the BBC that Huawei doesn't provide the Chinese Communist Party with any "backdoors" through which to spy.

Read more:"There's no way the US can crush us": Huawei’s founder issued a defiant message to Trump's administration

At least some allies are taking US concerns about Huawei on board. Britain has indicated it could safely deploy Huawei's 5G technology, but has criticised the Chinese firm for being slow to address security worries.  US secretary of state Mike Pompeo said in a press conference in Hungary that it would be "more difficult" for the US to partner with nations that didn't distance themselves from Huawei.

But Germany is leaning towards allowing Huawei to participate in building its 5G networks.

The Journal reports that India could be the US's toughest challenge. With a rapidly expanding online population, India is an enormous market and it would be a major win for Huawei, though the firm's presence there is still relatively small.

A memo sent earlier this month from India's Home Ministry to the Prime Minister’s Office and the head of the National Security Council — parts of which were read out to the Journal — said the US had been in touch. "The US side is concerned," it said.

An unnamed senior Indian official with knowledge of the matter told the Journal that India is keen to take advantage of 5G, and might ignore America's warnings about Huawei to do so.

"Huawei is today at the frontier on 5G and so can't be ignored... All technologies have security concerns and vulnerabilities, so singling out Huawei won't be correct." They also said that India would select its 5G vendors, "on our terms, not under pressure [from the US]."

The same source said US officials have been lobbying for India to engage with American rivals to Huawei, such as Qualcomm.

SEE ALSO: Huawei might spend more than $2 billion combating spying worries in the UK

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NOW WATCH: We compared the $1,200 MacBook Air with the $500 Surface Go, and the results were a mess

ISIS bride Shamima Begum's family is trying to force Britain to accept her as a citizen

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  • The UK is trying very hard to prevent Shamima Begum, the British teen who joined ISIS four years ago, from returning home.
  • It started the process of revoking her citizenship earlier this week, but it's a complicated process as international law prevents a nation from leaving someone stateless.
  • Begum's family has told the UK government that it will launch a legal appeal the decision to strip her of citizenship.

The family of Shamima Begum, the teenager who fled London to join ISIS in Syria, say they want to appeal the UK's decision to strip her of citizenship, which could result in Britain being forced to accept her back.

Begum, now 19, fled her home in east London for Syria to marry an ISIS fighter alongside two school friends in 2015.

She escaped Baghouz, the village considered the last bastion of ISIS's waning caliphate, while nine months pregnant about three weeks ago in order to save her then-unborn child.

She is now trying to return home with her newborn son, Jerah, to whom she gave birth in a Syrian refugee camp last weekend.

But her fight to return home is not easy. The UK considers her a national security threat and have worked to prevent her return.

Read more:A British teen who fled with friends to join ISIS four years ago is now pregnant and living in a Syrian refugee camp. Here's how her journey unfolded.

shamima begum interview baby

Earlier this week the British Home Office told Begum's parents via letter that it had started the process of taking away her British citizenship.

Her family has since challenged the decision and threatened in a letter to Sajid Javid, the British Home Secretary, that they would appeal his decision in court.

Renu Begum, Shamima's sister, said in the Thursday letter published by the BBC that her family was "sickened" by Shamima's recent comments to the press, but suggested that it was because her sister was "groomed" by ISIS.

Shamima has told British media over the past weeks that she doesn't regret joining ISIS, though she says she no longer agrees with their beliefs.

She also told The Times of London that seeing a severed head for the first time "didn't faze me at all" because it was from "an enemy of Islam," a term that ISIS converts referred to people fighting the group.

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Renu wrote:

"My sister has been in their [ISIS's] thrall now for four years, and it is clear to me that her exploitation at their hands has fundamentally damaged her.

"I have watched Shamima on our televisions open her mouth and set fire to our nation's emotions.

"As we have already expressed, we are sickened by the comments she has made, but, as a family man yourself, we hope you will understand that we, as her family cannot simply abandon her.

"We have a duty to her, and a duty to hope that as she was groomed into what she has become, she can equally be helped back into the sister I knew, and daughter my parents bore.

"We hope you understand our position in this respect and why we must, therefore, assist Shamima in challenging your decision to take away the one thing that is her only hope at rehabilitation, her British citizenship.

"Shamima's status will now be a matter for our British courts to decide in due course."

Renu added that Shamima's son "is the one true innocent and should not lose the privilege of being raised in the safety of this country."

Javid hinted on Wednesday that he would not remove the baby's rights to a British citizenship, The Guardian reported.

Read the full letter here.

shamima begum home office letter

Stalemate

Revoking Begum's British nationality is not a simple process for the government either.

Under UK law, the government cannot take away someone's citizenship unless they are also a citizen of another country. British officials reportedly told Begum's parents that because they are of Bangladeshi heritage, their daughter might be able to apply to be a Bangladesh citizen.

Bangladesh's government responded to the news by saying that Begum was not a citizen and refusing to take her in.

Begum said earlier this week she could try to move to the Netherlands, the home country of her husband — a Dutch Islam convert and ISIS fighter — when she learned that her country would rescind her citizenship. 

shamima begum

A spokesman for the Dutch Ministry of Justice and Security declined to comment on individual cases, but told INSIDER in a statement that to live in the Netherlands, a person would need a residence permit. Begum does not have this.

The spokesman added that the country does not offer any help to foreign fighters trying to return home, and would arrest and prosecute them if they got back.

Read more:Despite trying to strip her of citizenship, the UK could be forced to take back ISIS teen bride Shamima Begum after all

syria isis baghouz women

What next for Shamima?

Tasnime Akunjee, the Begum family's lawyer, said he or another lay wer plans to go to the Syrian refugee camp where Begum is staying so she can appoint legal representation to start her process to go home, Sky News reported.

He added that having a British baby with a stateless mother — as would be the case if Begum is stripped of her citizenship but her baby is not — was "a bizarre scenario," according to Sky News.

Begum's struggle to return home comes as several women who fled their home countries to join ISIS — so-called "ISIS brides"— escaped the caliphate and are now asking to return home.

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NOW WATCH: There are serious health reasons why you shouldn't eat your boogers


Cold brew has an unexpected health benefit over regular coffee, according to a personal trainer

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  • Many people find coffee gives them IBS symptoms.
  • Personal trainer Max Lowery found cold brew much more palatable than regular coffee.
  • The reason for this is that the process for making cold brew removes around 70% of the acidity, which means it doesn't inflame the gut lining in the same way.
  • Cold brew also has a smoother, sweeter taste.

You'd be forgiven for thinking iced coffee and cold brew are one and the same — but you'd be mistaken.

While iced coffee is simply regular coffee that has been cooled over ice, cold brew is made in an entirely different process — that is, without heat.

Cold brew is created simply by steeping ground coffee beans in cold or room-temperature water for between 12 and 24 hours.

Read more: Cold brew and iced coffee are actually very different drinks — here's why

Not only does this create a less bitter taste, it also has a little-known health benefit: cold-brew is far less acidic than regular coffee, meaning it aggravates the lining of the gut much less.

It's for this reason that personal trainer, intermittent fasting advocate, and author of "The 2 Meal Day" Max Lowery only drinks cold brew.

"Traditionally, I am not a big coffee drinker because I like to keep myself super sensitive to caffeine, however towards the end of last year I did get into the habit of drinking regular coffee," he told INSIDER.

"Because I don't eat until 1-2pm every day [Lowery favours an extended period of fasting overnight and through the morning], I was drinking coffee on an empty stomach and after about 10 days of drinking coffee almost every day, I got very bad IBS symptoms, something I have never had to deal with before."

Lowery did some research and found out he wasn't the only one suffering with these problems after drinking coffee, particularly on an empty stomach — some people experience diarrhoea, abdominal pain, or bloating.

Max Lowery   Tom Joy [ 0R1A8793 ]

"I did some digging and it turns out this is a common problem," Lowery said. "Coffee is incredibly acidic and can cause inflammation of the gut lining. I was very surprised.

"Imagine how many people are dealing with this but don't know that coffee is the root cause!"

Further research led Lowery to the discovery that cold brewing coffee can remove as much as 70% of the acidity.

"Brewing coffee at colder temperatures has a dramatic impact of the acidity levels of the finished product, and it all comes down to science," RISE Brewing Co. CEO and co-founder Grant Gyesky explained to INSIDER.

"Here's why: all coffee beans contain oils, and inside these oils are the fatty acids of the bean. During a normal hot brew process, the water is passed over the beans around a temperature of 200°F. At 140°F, the oils containing the acids are released from the beans into coffee making it more acidic.

"By maintaining colder temperatures during the brew, the oils in the beans are never released. Therefore, cold brewed coffee can be up to 70% less acidic than traditional hot drip coffee, which makes it easier on someone who struggles with IBS symptoms and gives it a much smoother and sweeter taste."

Read more: Americans are going crazy for this low-calorie peanut butter cup ice cream

Lowery finds the sweeter taste makes cold brew more enjoyable than regular coffee too — he now makes his own using an at-home infusion pitcher, which means he can control the strength of his cold brew by how long it's brewed for.

The personal trainer also finds drinking cold brew helps with his intermittent fasting — many people who embrace time-restricted eating find drinking tea and coffee helps them keep their energy up through their fasted periods. Adding milk, however, isn't ideal, and cold brew is generally more palatable black than regular coffee.

"The great thing about cold brew is that it tastes so sweet that you don't need to add anything to hide the bitterness," Lowery said.

Join the conversation about this story »

NOW WATCH: We compared Apple's $159 AirPods to Xiaomi's $30 AirDots and the winner was clear

Samsung has introduced new $130 earbuds to take on Apple's popular AirPods — here's how they compare (AAPL)

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Galaxy Buds

  • Samsung recently announced the Galaxy Buds, wireless bluetooth headphones designed to compete with Apple'sAirPods.
  • Starting at $129.99, Galaxy Buds are cheaper than AirPods, which retail for $159 with similar features.
  • Both devices offer a built-in microphone, Bluetooth connectivity, wireless charging, and personal assistant support.
  • At a lower price point, the Galaxy Buds also have two additional color options and a slightly longer battery life than the AirPods.

Samsung recently revealed the Galaxy Buds, a set of wireless earbuds designed to compete with Apple's AirPods. Starting at $129.99, the Galaxy Buds are a bit cheaper than the $159 AirPods, and generally benefit from newer technology.

Since their release in December 2016, Apple's AirPods have defined the market for wireless headphones. While Samsung produced multiple models of Bluetooth headphones before the AirPods were announced, the Galaxy Buds are the first pair of wireless buds to ship under the same name as the company's flagship smartphone.

The Galaxy Buds will be released on March 8th for $129.99; those who pre-order the new Samsung Galaxy S10 or S10+ smartphones will receive a free pair.

Read more: I tried the entire lineup of Samsung's new Galaxy S10 phones. Here's what they're like in person.

When compared to the AirPods, the newer Galaxy Buds offer an additional microphone, an extra hour of battery life, wireless charging, and two extra color choices. But the core features remain similar with either choice — the Galaxy Buds and AirPods both have a built-in microphone, connect wirelessly, and are primarily controlled using your smartphone's virtual assistant.

These are the key differences between the Samsung Galaxy Buds and the Apple AirPods:

SEE ALSO: Here's everything Samsung announced at its big Galaxy S10 event

NOW READ: These are the new Galaxy S10 and Galaxy S10 Plus smartphones from Samsung

When choosing between the AirPods and Galaxy Buds, your preference of smartphone and virtual assistant is important.

Your virtual assistant will differ depending on which smartphone you use, a key factor in choosing which headphones will work best for you.

The AirPods are designed for use with Apple's iOS virtual assistant, Siri, which is only available on devices like iPhones, iPads, and MacBooks. The Galaxy Buds utilize Samsung's virtual assistant Bixby, which is specific to its own devices.

If you plan to use voice commands, the headphones will work best when paired with their native assistant. It's possible to use AirPods with Google Assistant or Bixby, but you'll need a third party app to make them work together. Samsung does not list the Galaxy Buds as compatible with iOS, but it may be possible to pair them as standard Bluetooth headphones.



The Galaxy Buds come in both white, black, and yellow, while the AirPods are exclusively white.

Samsung was kind enough to offer a choice between white, black, and yellow for the Galaxy Buds; Apple's AirPods have only been available in white since they debuted in September 2016.

The Galaxy Buds are also a bit smaller than the AirPods, but the AirPods weigh less — 4 grams versus the Galaxy Buds' 5.6 grams. 



AirPods have programmable buttons, which allow for quick controls and some customization. The Galaxy Buds don't have any external buttons.

The buttons on the AirPods are typically used to activate Siri, but they can be set to specific controls like "play/pause" and "next track."

The Galaxy Buds don't have any buttons, but can trigger the same controls with Bixby voice commands.



See the rest of the story at Business Insider

25 million tonnes of US soybeans will go unsold this year as a direct consequence of the trade war with China

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  • Chinese soybean demand is still low, causing a massive oversupply problem and a major headache for US soybean farmers.
  • US soybean stocks have risen dramatically as the trade war takes its toll with $7.9 billion lost by US farmers in the past year, according to USDA officials. 
  • Robert Johansson, the chief economist of the USDA said on Thursday that close to 25 million tonnes of US soybeans will go unsold in 2019, as a direct consequence of the trade war.
  • US agricultural trader Bunge reported a $125 million fourth quarter loss in the soybean market citing "factors related to China trade and demand."

The trade war between Washington and Beijing has had a major impact on the US agricultural space over the past two years with the latest US department of agriculture (USDA) figures shining a light on the difficulties faced by farmers during the dispute.

Robert Johansson, the chief economist of the USDA said on Thursday that close to 25 million tonnes of US soybeans will go unsold in 2019, as a direct consequence of the trade war.

The United States exported 13.5 million tonnes less soybeans to China in the 2019 crop year, said Johansson. US soybean stocks have increased dramatically in the past two years as the trade war takes its toll. Johansson forecast that unsold soybean stocks will more than double to 24.8 million tonnes in 2019.

Speaking at the agency's annual forum in Arlington, Virginia Thursday, Johansson added that trade tensions between the two nations cost soybean farmers $7.9 billion last year, the Financial Times reported.

Read more:Trump seems worried about falling short on a US-China trade deal. He has good reason to be, according to experts.

"The record-high stocks in the US due to the trade situation will take several years to unwind, which will weigh on US prices going forward even with potential China purchase agreements," Johansson said in prepared remarks.

Total shipments of the US-grown oil seeds fell sharply after China hit them with a 25% tariff last July which led to soybeans rotting in fields across the US and a spate of bankruptcies. 

China was, until 2017, the largest buyer of US soybeans but has now slipped to fifth, according to the USDA, with a 6% drop in agricultural exports from the US to China last year. Meanwhile, American farmers are putting off buying equipment amid continued uncertainty

The ongoing confusion about the state of trade talks, set to continue Friday ahead of a March 1 deadline agreed at last November's G20 summit, has left the US farming industry in the dark amid a rollercoaster of expectations.

The impact of the trade conflict was plain to see in the results of major agricultural trader Bunge, which bet big on Brazilian soybeans in light of the trade war's impact on US exports.

The company saw a $125 million loss related to a decline in Brazilian soybean prices in the fourth quarter of 2018, and blamed "factors related to China trade and demand," for the loss.

"Trump’s tariffs might be a time limited event but the change in trading patterns they prompted for China may persist long after the trade war is over," Alfred Evans, founder and CEO of Islan Investments told Business Insider. This is, he said, "not good news for Bunge or any of the US exporters."

SEE ALSO: Trump is winning the trade battle with China, but China could still win the war

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Barack Obama's custom $600 bomber jacket is a refreshing break from drab off-duty politician style

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Former President of the United States, Barack Obama, watches on during the game between the North Carolina Tar Heels and Duke Blue Devils at Cameron Indoor Stadium on February 20, 2019 in Durham, North Carolina. (Photo by Streeter Lecka/Getty Images)

  • Barack Obama has got style.
  • The former US president attended the college basketball game between Duke and North Carolina on Wednesday wearing a supremely cool, $595 bomber jacket.
  • The look was a refreshing break from the normal off-duty uniform worn by politicians.
  • Turns out the jacket had been custom-made for Obama by Rag & Bone towards the end of his second term, but this is the first time he's been spotted wearing it.

US presidents are not known for their casual dress-sense.

They tend to opt for a suit without a tie, indicating they're off-duty but still professional. Or, if you're Donald Trump, you spend your weekends in a baggy golf polo tucked into a pair of equally baggy beige slacks.

Barack Obama, though, is an exception.

Obama was courtside on Wednesday night's highly anticipated men's college basketball matchup between Duke and North Carolina — a match that saw future star Zion Williamson's shoe explode in spectacular fashion.

Read more:Camera caught Obama's reaction the moment Zion Williamson's shoe exploded and he injured his knee

Williamson's injury and the ensuing backlash against Nike that followed stole the headlines that evening, but there was another talking point off the court.

Obama's extremely cool black bomber jacket.

Former U.S. President Barack Obama talks with ESPN analyst Maria Taylor while attending the game between the North Carolina Tar Heels and the Duke Blue Devils at Cameron Indoor Stadium on February 20, 2019 in Durham, North Carolina. (Photo by Lance King/Getty Images)

He was wearing a $595 Rag & Bone bomber jacket with "44" custom-embroidered on the right sleeve — a nod to being the 44th president of the United States.

Obama teamed the jacket with a black sweater over a button-down shirt, black jeans, and a pair of Allbirds sneakers.

Apparently, the jacket has been lying in wait for a while now.

Speaking to GQ, Marcus Wainwright, the founder and chief brand officer at Rag & Bone, said that the jacket had been custom-made for Obama towards the end of his second term, which ended over two years ago.

"I hadn't forgotten about it, but I wasn't necessarily waiting [for it to appear]," Wainwright explained.

"I wasn't expecting him to wear it in public. I thought maybe he's wearing it on the weekends or at home. I was hoping that he was wearing it."

"Making a jacket for the president, that's f------ awesome," Wainwright added.

"How else can you put it? When they look good in it, it's even more gratifying."

It's not the first time the former president has turned heads with his street style, though. His highlights include a brown leather jacket over a chambray shirt and who could forget that time he wore a baseball cap backwards?

Take notes, Mr Trump.

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NOW WATCH: Meet the three women who married Donald Trump

YouTube won't let anti-vaccine videos make advertising money for their creators, citing a policy around 'dangerous or harmful' content (GOOG, GOOGL)

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  • YouTube channels that promote anti-vaccination (anti-vax) content are not allowed to run ads on the video sharing platform, according to a policy first reported by BuzzFeed News on Friday. 
  • YouTube said that it considers anti-vaccination content to be “dangerous or harmful," which as a policy, it does not allow to be monetized. The company says this is not a new policy. 
  • Some channels promoting anti-vaccination content were reportedly able to monetize for some time, in violation of the policy, and a number of advertisers became upset after learning their ads were running alongside the harmful content.  

YouTube channels that promote anti-vaccination content are not allowed to run ads on the video sharing platform, according to a policy first reported by BuzzFeed News on Friday. 

YouTube said that it considers anti-vaccination content to be “dangerous or harmful," which as a policy, it does not allow to be monetized— meaning that it won't allow the video to generate any money for the creator from advertising. 

“We have strict policies that govern what videos we allow ads to appear on, and videos that promote anti-vaccination content are a violation of those policies. We enforce these policies vigorously, and if we find a video that violates them, we immediately take action and remove ads,” a YouTube spokesperson told Business Insider in a statement. 

YouTube told us that restricting ads for anti-vaccination videos is not a new policy for the company. However, at least a few channels were able to monetize, in violation of this policy, according to BuzzFeed News. 

According to the BuzzFeed News report, several channels promoting the anti-vaccine content — including VAXXED TV, LarryCook333, and iHealthTub — were able to run ads, unbeknownst to the advertisers themselves. Several companies reportedly asked YouTube to stop their ads from being placed on the videos, while one — a discount vitamin company called Vitacost — pulled their ads from YouTube entirely, according to the report. 

YouTube has since prevented all three channels from running ads, after BuzzFeed News brought the matter to the company's intention. 

Social media platforms, including Facebook and YouTube, have been used aggressively by anti-vaccination proponents. Pinterest, meanwhile, blocked searches for anti-vaccine content from its service earlier this week.

This all comes even as outbreaks of measles have spiked this year. Since January, there have been over 120 instances of measles, according to the Centers for Disease Control and Prevention (CDC). That's more than the entire year of 2016, when there were only 86.

California Congressman Adam Schiff sent a letter to Google CEO Sundar Pichai and Facebook CEO Mark Zuckerburg last week expressing concern over the information on both companies' sites that "discourages parents from vaccinating their children, contributing to declining vaccination rates which could reverse progress made in tackling vaccine-preventable diseases." 

Read more:Anti-vaccination ads on Facebook are targeting pregnant women, while a measles outbreak spreads across the country

This January, YouTube announced that had made updates to its recommendation algorithm, promising it would promote fewer conspiracy theory videos to its users. Examples YouTube gave at the time of "borderline" content included videos claiming that the Earth was flat, or those espousing serious medical misinformation.

Got a tip? Contact this reporter via Signal at +1 (209) 730-3387, email at nbastone@businessinsider.com, or Twitter DM at @nickbastone.

 

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