Gary Shilling thinks the price of oil is going way lower.

The economist and financial analyst wrote an op-ed for Bloomberg View discussing the various reasons why he thinks the price could get down to $10-20 per barrel.

Basically, supply keeps increasing while demand is shrinking. 

Here's an excerpt that pretty clearly lays it out: 

U.S. crude oil production is forecast to rise by 300,000 barrels a day during the next year from 9.1 million now. Sure, the drilling rig count is falling, but it’s the inefficient rigs that are being idled, not the horizontal rigs that are the backbone of the fracking industry. Consider also Iraq’s recent deal with the Kurds, meaning that another 550,000 barrels a day will enter the market.

While supply climbs, demand is weakening. OPEC forecasts demand for its oil at a 14-year low of 28.2 million barrels a day in 2017, 600,000 less than its forecast a year ago and down from current output of 30.7 million. It also cut its 2015 demand forecast to a 12-year low of 29.12 million barrels.

And for more on how Shilling sees the oil market, his submission to our latest most important charts in the world feature is a chart that he doesn't think OPEC will like all that much. 

Here's how the price of oil has looked over the past year: 

Read Shilling's full piece at Bloomberg View here »

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London (AFP) - British avant-garde designer Gareth Pugh sent a model army down the London catwalk Saturday, equipping them with leather armour, sweeping black gowns and Roman centurion-style headpieces to mark his label's 10th anniversary.

The models' faces were painted white with red crosses, the flag of England's patron saint, Saint George, whose legendary battle with a dragon is depicted in an altarpiece at the Victoria and Albert Museum where the show was held.

To a soundtrack of chanting crowds, the helmeted models strode down the runway in black leather breastplates worn over floor-trailing skirts with nipped-in waists or dresses adorned with black spikes that shimmered like chain mail -- or dragon scales.

On closer inspection, the spikes turned out to be tens of thousands of hand-cut plastic drinking straws, and the chanting was the sound of Pugh's home team, Sunderland Football Club.

"It's nice to mix the masculine with the very feminine -- these very big, almost Disney dresses with this very tough attitude, hats and make-up," he told AFP. 

For all its reputation for creativity, London rarely sees such conceptual shows and Pugh's return to the city where he has long lived and worked has been welcomed by the fashion industry.

"There's been nothing like this since (Alexander) McQueen," said veteran fashion journalist Hilary Alexander. "It was very powerful; I thought it was fabulous."

The show opened with a short film of a woman cutting off her blonde tresses and smearing herself in red paint in the sign of the cross of Saint George before she is seemingly burned alive.

Pugh insisted it was less a depiction of English nationalism, which the flag is often used to represent, than an ideal of sacrificing oneself for a larger group, be that a nation or a football team.

The designer, whose clothes have been described as wearable sculptures, said it was also "about the rejection of a traditional idea of what is beautiful".

- J.W. Anderson's 'mash-up' -

Pugh's show was a highlight of London Fashion Week this season, but he is only one among a number of stars who made their names in the city before spreading their wings abroad.

Jonathan Anderson, creative director of LVMH-owned luxury label Loewe, earlier Saturday showed his autumn/winter collection for his own line, J.W. Anderson, in which LVMH also has a stake.

It was bursting with colours and texture and the intention, he told reporters, was not to create "a look" but a series of outfits worn by individual women. 

The tops, tunics and coats had 80s-style volume, with puffed out shoulders and sleeves, worn over cord straight-legged trousers tucked into knee-high leather boots in red, yellow and grey. 

"We looked at moments of the early 80s, early 90s... that period of fashion was probably one of the most exciting moments in fashion," Anderson said.

Outfits were draped around the body, flared in a peplum waist, fashioned into a high collar, or belted, while Anderson also played with fabrics in what he called a "textural mash-up".

There were oversized coats in pink, brown or purple leather, others in grey and soft pink suede, as well as striped tops in green velvet or in shimmering metallic pink and purple.

The combinations created "something that felt against the ideas of conforming to a look and trying to challenge ourselves", Anderson said.

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The global stock market looks very different today than it did 115 years ago.

From Credit Suisse's new Global Investment Returns Yearbook:

"Figure 1 shows the relative market capitalizations of world equity markets at our base date of end-1899. Figure 2 shows how they had changed by end-2014. Markets that are not included in the Yearbook dataset are colored black. As these pie charts show, the Yearbook covered 98% of the world equity market in 1900 and 91% at end-2014."

The New York Stock Exchange had been in operation for under a century in 1899. Today, the market capitalization of listed companies is $28 trillion, and the US stock market is bigger than all its other major counterparts combined.

The explosion of China's stock market is also apparent. It's 2.2% of the global market, despite only opening in November 1990.

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Muddy Waters Research founder Carson Block, one of the world's most infamous short-sellers, revealed his first long stock position on Bloomberg TV's "Market Makers"with Stephanie Ruhle and Eric Schatzker. 

Block – who is known for targeting Chinese companies he believes are frauds – told Bloomberg that he likes a holding company traded in France called Bollore.

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Rio de Janeiro (AFP) - Top seed and defending champion Rafael Nadal slumped out of the ATP Rio Open, losing his semi-final to Italian Fabio Fognini in three sets.

Fognini, who had lost his four previous meetings with the 14-time grand slam champion, won 1-6, 6-2, 7-5 on Saturday to advance to a Sunday final against Spaniard David Ferrer.

Second seed Ferrer reached the trophy match with a 7-5, 6-1 win over Austrian Andreas Haider-Maurer.

Nadal, who only came off court at 3:30 am after his overnight quarter-final win over Uruguayan Pablo Cuevas, was visibly fatigued, allowing his early momentum to slip as he crashed out after 2hr 17 min.

"I am very pleased as I played the best in the world on this surface," said 28th-ranked Fognini, seeded four at the event whose inaugural edition Nadal won last year.

That success was a building block early in a clay season which would culminate in a ninth Roland Garros title, but a series of injuries thereafter hampered Nadal.

The Mallorcan came to Brazil on the back of a poor start to the year after a first round exit in Qatar and a quarter-final loss at the Australian Open.

Nadal was furious after he was forced into a late night start Friday with all four quarter-finals played on center court and all going the distance.

Fognini's last eight meeting with Argentine Federico Delbonis lasted more than three hours before the Australian Open doubles champion alongside compatriot Simone Bolelli emerged a 6-4, 6-7, 7-6 winner.

It was the Italian's fatigue which showed early on as Nadal blitzed him in the opening set. And an early break in the second looked as if the titleholder would emerge victorious.

Instead, a double fault allowed Fognini a toe hold. He threw that one away in missing a simple volley but thereafter the momentum swung inexorably his way with a trio if breaks seeing the Italian level matters.

Nadal tried to dig his way out of trouble in the decider as, trying to avoid a first loss in 21 matches in Brazil, he began to run out of juice as Fognini took the honors on his third match point.

Next week's ATP event in Buenos Aires will offer a chance of some redemption as Nadal looks to find his top form in time for more glory in France come early June.

Ferrer twice dropped serve against Haider-Maurer in a tight opener on center court at the swish Rio Jockey Club but the Spaniard moved through the gears to break in the 11th game and then motored through the second set.

The women's final will pitch 16th-ranked Italian Sara Errani, the top seed, against 75th-ranked Slovak Anna Schmiedlova on Sunday.

Errani came past fifth-seeded Swede Johanna Larsson 7-5, 6-3 while sixth seed Schmiedlova shocked second-seeded Romanian hope Irina Begu 6-3, 4-6, 6-2.

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Sydney (AFP) - Master batsman Virat Kohli and fast-bowling ace Dale Steyn put their friendship to one side Sunday when defending champions India tackle South Africa in a World Cup blockbuster in front of 80,000 people in Melbourne.

India and South Africa, two of the favourites for the title, go into the Pool B clash at the iconic Melbourne Cricket Ground with opening wins under their belts -- India beating arch-rivals Pakistan by 76 runs while the Proteas clinched a 62-run victory over neighbours Zimbabwe.

Kohli has prospered at the MCG, making 169 and 54 during the drawn Test against Australia in December, followed by a match-winning 107 in the World Cup opener against Pakistan in Adelaide.

However, Kohli and the other India batsmen now face a formidable South Africa attack that includes Steyn, Morne Morkel and Vernon Philander.

Kohli said it was an advantage having played alongside Steyn and prolific batsman AB de Villiers for the same Royal Challengers Bangalore franchise in the Indian Premier League.

"Dale is a good friend, I get the biggest hug from him when we meet. But when we get on the field, he will look to dominate me and I will try to dominate him," said Kohli.

South Africa captain de Villiers believes the MCG pitch will not favour his fast bowlers, saying batsmen should thrive on it.

"I've played here in the past and I have never played at the MCG with a lot of pace and bounce," de Villiers said ahead of the day/night game that will almost certainly lift the winner into the quarter-finals.

At Dunedin's University Oval, Afghanistan were bowled out for 232 in the 50th over after being sent in to bat against Sri Lanka in Pool A.

Asghar Stanikzai top scored with 54 and Samiullah Shenwari made 38, with the pair featuring in an 88-run stand for the third wicket.

For Sri Lanka, skipper Angelo Mathews and Lasith Malinga both took three for 41.

Sri Lanka went into the match after an eight-day break following their 98-run defeat by New Zealand while Afghanistan had only a four-day turnaround and a flight from Australia since suffering a 105-run loss to Bangladesh in Canberra.

- 'Unacceptable' -

Meanwhile, West Indies cricket chief Dave Cameron was blasted for apparently retweeting a demand for outspoken opener Chris Gayle to be given "a retirement package".

In the latest controversy to hit the World Cup team, West Indies Cricket Board (WICB) president Cameron's behaviour was condemned as "unacceptable" by players' representatives.

The drama unfolded during the Windies' 150-run win over Pakistan at Christchurch on Saturday when Gayle was out for four, stretching his run without a century in ODI cricket to 20 matches.

One fan tweeted: "Gayle goes… Can't buy a run. Let's give him a retirement package … Can't fail repeatedly and still front up based on reputation".

Cameron then apparently retweeted the post even as the match was ongoing.

The West Indies Players Association (WIPA), often at loggerheads with the WICB in a long-standing battle over contracts and payments, immediately denounced Cameron.

"WIPA is extremely disturbed by the unacceptable re-tweeting by Mr. Dave Cameron, President of the West Indies Cricket Board (WICB), of a negative "fan" tweet which was directed at our member Mr. Christopher Gayle," said a statement.

"That Mr Cameron's retweet came in the middle of the West Indies team's critical game against Pakistan renders it even more unacceptable."

Cameron, who is seeking re-election, apologised for his actions and removed the post from his account.

"No offense intended. Full apologies extended. Rally round the West Indies," he wrote on @davec51.

On the eve of the World Cup, Gayle had accused the WICB of victimisation after Dwayne Bravo and Kieron Pollard were axed from the squad for their roles in the abandoned tour of India last year.

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You could always read a list of Oscar winners the morning after the awards show, but you'd miss out on the live thrill of watching winners take the top honors. At their best, Oscar acceptance speeches are emotional, entertaining performances that express the true character of the people behind the year's best films.

Representatives of Toastmasters International, a public speaking organization with over 14,650 clubs spanning 126 countries, went through hundreds of Oscar acceptance speeches and narrowed the list down to the six they found most memorable. They considered many more, but decided to focus on the past two decades.

Their criteria included the expression of personality, graciousness, excitement, modesty, and a practiced delivery.

We spoke with Dilip Abayasekara, former international president of Toastmasters, to explain what makes each of these speeches so exceptional.

Cuba Gooding Jr., Best Supporting Actor for "Jerry Maguire," 1997

Gooding may be the only person to have turned the Academy's orchestra music from an uncomfortable signal to slink off stage into a triumphant, movie-like soundtrack. His speech has become beloved for the barely restrained joy behind it, but channeled through appreciation of everyone who made his role possible.

"I like to call what he was showing 'pure love energy,'" Abayasekara says, laughing. "He was himself, not an actor.

Ben Affleck and Matt Damon, Best Original Screenplay for "Good Will Hunting," 1998

Affleck and Damon, in their mid-20s, were still relatively new to Hollywood, which made their excitement and energy all the more enjoyable to see, especially since they were so naturally playing off each other on stage.

Abayasekara says that their speech stands out for the way they mention the role that each person they thank played in their lives, rather than just listing off names.

Robin Williams, Best Supporting Actor for "Good Will Hunting," 1998

Williams, breathless with emotion, exhibits the sincerity, humor, and "winsome enthusiasm" that made him such a likeable actor, Abayasekara says.

This speech, for his first Oscar, is remembered as one of the most heartwarming.

Roberto Benigni, Best Foreign Language Film for "Life is Beautiful," 1999

Benigni got an ovation before he even arrived on stage.

"He spoke with his whole body," Abayasekara says. Benigni used sweeping gestures and poetic language of appreciation to let the audience know how grateful he was to them for having embraced him. "He exhibits that which he applauds," Abayasekara notes.

Meryl Streep, Best Actress for "The Iron Lady," 2012

Abayasekara enjoys contrasting Streep's speech with Benigni's. "It's much quieter. She shows you don't have to jump all over the stage" to express excitement, he says.

Streep takes her time with her speech, and pauses as necessary when she gets choked up with emotion. "You want emotion to drive the speech, not detract from the delivery," Abayasekara says, which is exactly what Streep pulls off.

Matthew McConaughey, Best Actor for "Dallas Buyer's Club," 2014

"This is definitely the best structured one," Abayasekara says. McConaughey's speech suggests practice and focus, and is a rare speech with a defined beginning, middle, and end.

With a combination of passion and humor, McConaughey fearlessly talks about the role his faith and personal relationships have had in his life, and he ends his speech with his signature "Alright, alright, alright," which Abayasekara says is like an in-joke with the crowd that concludes winning them over completely.

SEE ALSO: Oprah Winfrey asked this unorthodox interview question to find an executive for her television network

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Madrid (AFP) - Real Madrid moved four points clear of Barcelona at the top of La Liga with a 2-0 win at Elche on Sunday.

After passing up a host of chances in the first-half, Madrid finally made the breakthrough when Karim Benzema tapped home from close range 11 minutes into the second period.

Cristiano Ronaldo then sealed the three points when he bulleted home a header from Isco's pin-point cross 21 minutes from time.

Boosted by Barca's shock 1-0 defeat to Malaga on Saturday, Madrid started brightly and should have been well in front by half-time.

Gareth Bale had an early strike ruled out for offside before Ronaldo smashed an effort from 20 yards off the post.

The World Player of the Year then passed up a huge chance when he miscued with the goal gaping from Bale's low cross.

Another effort from Ronaldo, this time with his head from Toni Kroos's free-kick, flew just wide as the pressure built.

And the visitors were unfortunate not to be ahead in stunning fashion when Benzema's overhead kick was also chopped off for the tightest of offside calls.

Madrid captain Iker Casillas was making his 500th La Liga appearance, but had barely touched the ball until he had to make a smart low save to his right to deny Aaron Niguez two minutes after the break.

Niguez was lucky to stay on the pitch moments later when he only saw a yellow card for a horrific challenge on Bale that fortunately the Welshman was able to shake off.

Carlo Ancelotti's men finally got the break that had deserted them early in the game on 56 minutes when David Lomban's clearance from Ronaldo's low cross bounced off Elche 'keeper Przemysław Tyton and into the path of Benzema to slot into an empty net.

Ronaldo then ended his three-game goalless streak in La Liga with a wonderful header from Isco's fine cross to put the game to bed.

Earlier, David Moyes's Real Sociedad struck twice in the final 10 minutes to come from behind and seal a thrilling 4-3 win over Sevilla at Anoeta.

The hosts had got off to an ideal start as Imanol Agirretxe slotted home the opener after 16 minutes, but Timothee Kolodziejczak levelled for the Europa League holders before the break.

Sociedad were then gifted a soft penalty at the start of the second period, which Xabi Prieto converted, but Sevilla responded once more when their top scorer Carlos flicked home Ever Banega's free-kick.

Sevilla then looked set to go on and claim a vital three points in their battle for a return to Champions League football next season when Kevin Gameiro scored from the spot after a handball by Inigo Martinez inside the area.

However, there was a final twist as Sociedad equalised when Alejandro Arribas turned the ball into his own net before Prieto flicked home a corner at the near post as the game entered stoppage time.

Defeat means Sevilla still trail Valencia by five points in the fight for fourth place, while Sociedad jump three places to 10th and are now eight points clear of the relegation zone.

Villarreal are now just a point behind Sevilla in sixth after substitute Luciano Vietto scored the only goal in a 1-0 win over Eibar.

Athletic Bilbao were also 1-0 victors over Rayo Vallecano thanks to Aritz Aduriz's strike four minutes from time.

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Axe — scorned by anyone who has to come into contact with tween boys regularly — is finally growing up.

Unilever's intensely fragrant collection of grooming products is getting a big brother. It's called Axe White Label, and comes in four distinctly upscale-sounding elemental scents: Night, Forest, Island, and Air.

You may wonder why Unilever decided to go with the Axe label on a line they are attempting to position upmarket — alongside their own line of Dove Men+Care as well as competitor Proctor and Gamble's Old Spice line. But one sniff of any of the new products, and you'll understand.

Though Axe describes them as "scents made with premium materials," they're still incredibly strong. This is still the Axe you remember, and it can be overwhelming at times.

I tried the entire line of White Label, which Axe provided to Business Insider for review purposes, in the "Night" scent. Axe describes Night as "a cool rush of grapefruit, lavender, cedar wood, and praline notes," and it's a far more pleasing scent than the Axe you're used to.

The line comes in dry spray antiperspirant deodorant, antiperspirant solid deodorant, 2-in-1 shampoo and conditioner, bodywash, and cooling style cream. For maximum effect, I applied them all the same day. (The line also includes a "style refresher," which I did not get to try).

Here's what I thought:

Axe White Label dry spray antiperspirant deodorant

This is as close the White Label collection comes to Axe's signature body spray. And it's quite a far cry from the spray that fills the halls of your local high school.

I've never used dry spray deodorant before trying this product out. And I'm not sure I loved it.

The spray is easy to apply but it has a bit of a learning curve (watch where you're spraying it — your nose is NOT the target). It does fulfill its promise of going on dry— which is pretty incredible for a deodorant spray — and wears pretty lightly throughout the day. There's no damp film under your arms.

The spray kept me dry (and aromatic) until about midday. At the time, both the wetness protection and fragrance seemed to disappear completely. It's possible I didn't apply enough, but I thought three seconds of continuous spray under each arm would to be enough for the advertised 48 hours of feeling "confidently fresh."

The deodorant's scent smelled pretty good, but it was still too much. By the time it wore off, I was happy to see it go.

At $5.49, it's about the right price for deodorant, but I'm not sure how long the container would last.

Axe White Label body wash

This body wash actually surprised me. It's soft and light and doesn't dry your skin out like I expected it to. It's incredibly fragrant, but not overwhelmingly so. After your shower, it doesn't leave a lot of fragrance on your skin so you don't really smell like "Night" as much you might expect.

Overall: fragrant and generic, but a notable step up from a wash like Irish Spring and even Old Spice's harsher offerings. It retails alongside other premium bodywash at $3.97.

Axe White Label solid antiperspirant deodorant

This is a pretty standard, nondescript antiperspirant deodorant. It's mostly identical to the offerings of the Dove Men + Care's line, except with Axe's explosive signature scents.

If you're into Axe's scents, you'll like this solid. If not, this won't convince you. Its $3.97 MSRP prices it right alongside most competition.

Axe White Label 2-in-1 shampoo and conditioner 

Your standard stinky shampoo, in that less-than-desirable two-in-one combo. Personally, I much prefer separate shampoo and conditioner, but this works well for what it is.

It's also an unexpected, unnerving green slime color, unlike the deep, shiny purple of the body wash. I'm not sure if this was intentional to make it easy for sleepy men to tell the difference during their morning shower, but it's pretty strange.

The price tag of $3.97 for a relatively small bottle is slightly steep, but in line with other premium products.

Axe White Label cooling styling cream

Axe's new hair product is by far the best of the new products in the collection.

Allow me to rave a bit: 

The cream comes packaged in an easy-to-use bottle — which squeezes out more like a sandwich condiment than hair product — making it easy to remove from its tube.

Once you get it out, the pasty white cream takes a bit of effort to rub into your hair. But as long as you apply it root-to-tip, you'll be good. After application, the cream dries quickly in your hair.

The product wears light in your hair, and it looks and feels like there's nothing in your hair at all. It has a smooth matte finish and somehow leaves your hair feeling softer.

I can't say enough about how hard this is to find in a product at this price level, and what a great feat this is by Axe. It's also allows you to restyle your hair throughout the day.

The cream doesn't offer the strongest hold — if you're looking to spike your hair up, look elsewhere — but it will give you style and definition your hair naturally lacks. It was perfect for my rather thick, heavy hair.

In a switch from the rest of the Axe product line, this cream has only a light, pleasant scent.

The cream's price-to-quality ratio sets a new standard for budget hair product — one that I don't think another product will be able to reach. It's $6.97 MSRP is about half the price of any product that has the potential to be near as good as this.

Apart from the products, even the labels are grown up.

Gone are the insinuations that Axe will get you laid. Instead, the focus is on the wearer and his "confidence," which can be seen referenced in the packaging and advertisement material's insistence that wearing the products will make you "confidently fresh."

It's clear Axe is gearing this product to a more sophisticated, discerning man. They've even partnered with John Legend — a sophisticated pop icon if there ever was one — to start a new indie music label called "The White Label Collective."

It remains to be seen if Axe will be able to break away from its high-school/frat boy image successfully, however. 

So should you buy it? Well, I liked what I tried, but the signature smells that are Axe's biggest draw aren't enough to steal me away from my favored brands. The one exception is the styling cream, which I can't help but recommend wholeheartedly.

SEE ALSO: The Only Three Hair Products Men Should Use

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For years, people have been taught to ask for a specific number — rather than offering a range — when negotiating salary. But new research from Columbia Business School challenges that conventional wisdom.

Professors Daniel Ames and Malia Mason conducted a series of studies to gauge how people reacted to negotiators making a variety of offers, from bargaining with an event caterer to negotiating a salary. They found that range offers sometimes get better results than point offers (those that focus on a single number), and that they also allow the offer-maker to be seen as more "reasonable."

"For years, we taught students to avoid making range offers in negotiations, assuming that counterparts receiving those offers would have selective attention, hearing only the end of the range that was attractive to them," said Ames, co-author of the research, in a press release. "Our results surprised us, up-ending how we teach the topic. We can't say that range offers work 100% of the time, but they definitely deserve a place in the negotiator's toolkit."

Here's a chart showing the different types of offers (in this case, from a caterer), and their results:

The professors found that a "Bolstering Range Offer" is the best way to get what you want in a negotiation.

A Bolstering Range Offer is a strategy in which you start with the point and stretch in an ambitious direction, like asking for a "15% to 20% raise" instead of just a 15% raise.

Historically, most negotiation experts would have said this strategy was doomed to flop because the bargaining counterpart would hear only the 15% end of the range, they explain, but in contrast, Ames and Mason's research found that Bolstering Range Offers frequently led to better settlements for the offer-makers without harming their relationship with the other party. 

The worst type of negotiation, on the other hand, is the "Backdown Range Offer," they found. This is where you start with the point offer and then go down to a more accommodating number, like asking for "12% to 15% raise" when you really want 15%. In this case, Ames and Mason's research converged with the prior conventional wisdom: those using Backdown Range Offers ended up with less value than those using point offers, or Bolstering Range Offers, and didn't see any relational benefits.

So there you have it: Offering a range is the key to getting the raise you deserve, only if the lower end of the range is what you really want. 

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Slightly north of Hong Kong Island there once stood one of the most densely populated places on earth.

From the 1950s until 1994, over 33,000 people lived and worked in Kowloon Walled City, a massive complex of 300 interconnected buildings that took up a city block.

Caught between China and the British-run Hong Kong government, the city was essentially lawless, equally known for its opium dens and organized crime as its dentists' offices. 

Photographer Greg Girard spent years investigating and documenting the strange place before it was demolished. Girard collaborated with Ian Lambot, another photographer, on a book about Kowloon, titled "City of Darkness Revisited," available here.

Girard has shared a number of photos from the project here, and you can check out the rest at the book's website.

Kowloon Walled City was a densely populated, ungoverned settlement in Kowloon, an area north of Hong Kong Island. What began as a Chinese military fort evolved into a squatters' village comprising a mass of 300 interconnected high-rise buildings.

The city began as a low-rise squatter village during the early 20th century. After World War II, Hong Kong experienced a massive influx of Chinese immigrants. This led to a lack of housing in the city. In response, entrepreneurs and those with "squatter's rights" in Kowloon built high rise buildings on the space to capitalize on the housing demand.

At its peak, more than 33,000 people lived in the 6.4-acre city. It was considered by many to be the most densely populated place on earth.

Smartphone cameras have gotten so good that many people don't see the need for traditional cameras — and the truth is that for many people there is no need. But devoted cameras have to have some advantages, right?

We matched an iPhone 6 camera against the DSLR Canon 5D Mark II ($3,000 for the body alone) and the point-and-shoot Canon PowerShot SD1400-IS ($169).

We tested the cameras in various situations, including bright sunny day, moving objects, close up, etc. Don't expect techie jargon or focus charts here. We're just considering what looks best.

Here are the contenders. Starting from the left is the iPhone 6, the Canon 5D Mark II, and the Canon PowerShot SD1400-IS.

We started with a shot inside the office. Fluorescent light can be tricky for cameras to read. On a DSLR, you can change settings depending what kind of light a shot has, and we were able to produce this picture.

The point and shoot camera sees the fluorescent lighting more yellow.

The 87th annual Academy Awards are underway at the Dolby Theatre in Hollywood.

Reese Witherspoon, Emma Stone, Bradley Cooper, Michael Keaton, and the rest of this year's nominees will all be making appearances.

See who brought the glitz and glamour, and who maybe should have stayed off the red carpet.

Lady Gaga in custom Azzedine Alaïa (which took 25 people and 10 weeks to make) with pregnant "The Imitation Game" best supporting actress nominee Keira Knightley in Valentino.

"Wild" best actress nominee Reese Witherspoon in Tom Ford.

Best supporting actress nominee Emma Stone in an Elie Saab dress.

Christchurch (New Zealand) (AFP) - England became only the second team to produce a century opening stand in the World Cup with a flying start to their Pool A match against Scotland in Christchurch on Monday.

With England under fire after being trounced in their first two games, Moeen Ali and Ian Bell took them to three figures in the 17th over with Ali on 64 and Bell 29.

On wickets tailored to produce high-scores, the only other century opening stands in 14 matches have come from New Zealand where Brendon McCullum and Martin Guptill have achieved the feat twice in three games.

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Last week was all about Greece.

Eventually, Greece and the Eurogroup struck a deal late Friday that will see Greece get a four-month loan extension. 

And in the last two trading days of the week, markets were moving on almost every headline out Europe regarding these negotiations.

The folks at Bespoke Investment Group collected those headlines and mapped them on to a chart of the S&P 500 last Thursday and Friday. 

As we get ready for another big week in markets, here's a great look back on the week that was, via Bespoke's George Pearkes:

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Hollywood (United States) (AFP) - 00:16 GMT - "The pressure's off" - Lupita Nyong'o, last year's best supporting actress winner, arrives in a dress that appears to be made entirely of pearls designed by Francisco Costa for Calvin Klein. "The pressure's off," she beams to Seacrest when asked to compare this year's Oscars to last. "I can just dress up and enjoy the show."

00:07 GMT - Heavy rain - Ushers sporting clear ponchos are pulling out all the stops to protect stars from the heavy rain, holding at least two umbrellas per person for the short hop from limo to red carpet, and pushing the tent up with mops.

00:04 GMT - Hand-sewn, pearl-covered - Best actress contender Felicity Jones arrives resplendent in a hand-sewn, pearl-covered gown by Sarah Burton for Alexander McQueen. She confirms to E!'s Ryan Seacrest that Stephen Hawking had a "very flirtatious manner" when she met the superstar physicist while making "The Theory of Everything." Her co-star Eddie Redmayne, tipped for the best actor Oscar, meanwhile tells Seacrest he's feeling "relatively relaxed" ahead of the big night.

00:02 GMT - Keaton's first nomination - "I think you dig it more the longer you hang around," Michael Keaton tells E!'s Ryan Seacrest when asked about his reaction to his first Oscar nomination at the age of 63.

23:56 GMT - Welcome to the Oscars - Welcome to AFP's live report on the 87th Academy Awards!

As Hollywood heavyweights walk the red carpet, the drama jumps off the big screen and into the Dolby Theater for the most anticipated awards show of the year.

"Birdman or (The Unexpected Virtue or Ignorance)" directed by Alejandro G. Inarritu tops the nominations list, alongside Wes Anderson's "The Grand Budapest Hotel," both earning nine nods. But odds-makers put "Birdman" at the top of the short list with Richard Linklater's "Boyhood," filmed over 12 years and up for six awards, as the other front-runner.

Will one film sweep the Best Picture, Best Director categories? Or will the Academy spread the wealth and split two of the night's most coveted prizes like they did last year when "12 Years a Slave" captured the best picture Oscar, but Alfonso Cuaron won best director for "Gravity?"

The best actor category pits Eddie Redmayne's meticulous portrayal of British physicist Stephen Hawking in "The Theory of Everything" against Michael Keaton as a washed-up movie star trying to revive his career on the Broadway stage in the dark comedy "Birdman."

Julianne Moore is largely tipped to win the best actress trophy for her role as a professor dealing with early-onset Alzheimer's disease in "Still Alice," but faces competition from Marion Cotillard, who won the category as Edith Piaf in "La vie en Rose" in 2007 and is up this year for "Two Days, One Night."

The night is also dogged by controversy, with civil rights groups attacking the lack of diversity among nominees.

At the helm for the first time is TV and Broadway star Neal Patrick Harris, who will perform a number called "Moving Pictures" by the husband and wife duo behind last year's best original song winner "Let it Go" from the mega-hit "Frozen."

With performances by Lady Gaga and Anna Kendrick also lined up, this year's ceremony promises a night in which everything is, indeed, awesome.

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Dhaka (AFP) - The death toll in a ferry accident in central Bangladesh soared to 65 on Monday, as navy and fire brigade divers recovered another 24 bodies, police said.

"Most of the new bodies were found in the boat after it was raised and dragged to the shore. The death toll is now 65," inspector Abdul Muktadir told AFP.

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J.K. Simmons is taking home his first best supporting actor Oscar for his performance in "Whiplash."

Simmons' turn as an intense music instructor wowed critics and the Academy.

This was the 60-year-old actor's first Oscar nomination.

Simmons had a lot of big competition this year from an exceptional Edward Norton ("Birdman"), Mark Ruffalo ("Foxcatcher"), Ethan Hawke ("Boyhood"), and Robert Duvall ("The Judge").

Simmons also won a Golden Globe and a BAFTA award for his "Whiplash" performance.

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