Microsoft hands display ads to AOL, maps to Uber

SEATTLE — Microsoft Corp said on Monday it will hand over its display advertising business to AOL Inc and sell some map-generating technology to ride-hailing app company Uber, as it slims down its money-losing online operations.

The moves mean Microsoft will focus on its growing search advertising business based on its Bing search engine, and displaying maps on its Windows devices rather than generating the maps themselves.

Microsoft, which employs hundreds of people in its display ad business around the world, said those employees would be offered the chance to transfer to AOL and that it was not making any layoffs.

The world’s largest software company no longer breaks out results for its online operations, chiefly its MSN web portal and Bing, but they have lost more than $10 billion over the past five years. Chief Executive Satya Nadella has said Bing will turn a profit next fiscal year.

“Today’s news is evidence of Microsoft’s increased focus on our strengths: in this case, search and search advertising and building great content and consumer services,” said Microsoft in a statement.

Under a 10-year deal struck with AOL, now a unit of Verizon Communications Inc, AOL will sell display ads on MSN, Outlook.com, Xbox, Skype and in some apps in major countries. As part of the deal, Bing will become the search engine behind web searches on AOL starting next year.

Microsoft also struck a multi-year extension to its existing deal with AppNexus, which provides the tech platform for buyers to purchase online ads.

Microsoft and Uber did not disclose financial terms of their deal, under which Uber will take over the part of Microsoft’s mapping unit that works on imagery acquisition and map data processing. Uber will offer jobs to the 100 or so Microsoft employees working in that area, according to a source familiar with the deal.

Fast-growing Uber, which is shaking up established taxi services worldwide, already uses a combination of map services from Google Inc, Apple Inc and China’s Baidu and the source said it will continue to do so.

Although Microsoft will no longer collect mapping imagery itself, Microsoft said it will continue to work with imagery providers for underlying data on its own maps. Microsoft already gets much of its map data from Finland’s Nokia.

source: interaksyon.com

APP SOUND | Music handpan opens limitless possibilities, say creators

A small handpan that offers a wide range of musical possibilities to users has been devised by Barcelona-based performers. Reuters’ Jim Drury reports.

This is the Oval, an electronic handpan developed by these Barcelona-based researchers. The digital percussion instrument has just eight notes, but connected to an App via smartphone or tablet it allows professional musicians and beginners to create a wide array of sonic styles.

“The Oval is a digital interface that controls music. It has eight pads sensitive to pressure at multiple points. We can do an XY track as if it was a touch screen so that we can identify different moves of a finger and identify patterns. Not only intensity, but also where you press and how you move your fingers across the pad. That makes the sound that comes out of it more expressive as it gives the sound different layers of samples. So the final sounds will depend on where you place your fingers and how you move them on the Oval,” OVAL Co-creator Alex Posada saying.

It has a comparable shape to other handpan instruments and is played in a similar way, but co-creator David Goldschmidt says the app connection makes it superior.

“It’s not an acoustical sound that you can get with a metal instrument. But, it brings you to a different level. It has a much, much, much bigger variety of sounds and diversity of things you can do. It’s a new path in the music world,” OVAL creator David Goldschmidt saying.

Its open source hardware controller allows users free creative rein.

“The app needs the instrument and the instrument needs the app. The complete Oval is composed by the control interface – the physical part – and the app. The two together make the global instrument. Through the control instrument you can express what you want and the sound is created through the app. The sound does not come from the instrument itself, it comes from the phone. So you connect to a sound system through headphones or a cable and then you are able to intensify it and listen to what you are creating,” Posada saying.

Crowdfunding pledgers can buy an Oval for 399 euros, two thirds of its eventual retail price. The ongoing campaign raised 100,000 euros in its first three days… music to the ears of its creators.

source: interaksyon.com

Landmark rulings see US Supreme Court move to the left

WASHINGTON DC - With four justices appointed by Democratic presidents and five by Republican leaders, the US Supreme Court is generally perceived as being weighted in favor of conservatives.

But after two historic rulings in a week supporting progressive causes -- legalizing gay marriage across America and upholding President Barack Obama's health care overhaul -- the conservatives are lashing out.

They are slamming what they see as a blatant disregard of the law in favor of a win in the court of public opinion.

Ultra-conservative justice Antonin Scalia called the 5-4 ruling in favor of legalizing gay marriage nationwide a "judicial putsch" that was "lacking even a thin veneer of law."

"Just who do we think we are?" asked Chief Justice John Roberts, who also opposed the gay marriage ruling.

He said the ruling had "nothing to do with" the Constitution and blasted the decision as "an act of will, not legal judgment."

Scalia also lambasted his colleagues for voting 6-3 to uphold "Obamacare," which has extended health insurance to millions of Americans.

Conservatives say Obamacare represents unconstitutional government intrusion into the lives of private citizens.

"Today's opinion changes the usual rules of statutory interpretation for the sake of the Affordable Care Act," Scalia wrote.

"We should start calling this law SCOTUScare," he added, using the acronym for the Supreme Court.

 'Judicial activism'

Aside from the health care and gay marriage rulings, the court also voted in the past week to uphold a key tool used to fight housing discrimination -- another big win for the Obama administration.

In the past, other landmark Supreme Court rulings have ushered in the legalization of abortion, the end of racial segregation in schools, and the authorization of mixed-race marriages.

But this week's decisions left some accusing the court of siding with public opinion -- and not the Constitution.

Ryan Anderson, a research fellow at the conservative Heritage Foundation, called the gay marriage ruling "perhaps as clear of an example of judicial activism as any we have seen in recent years –- or are likely (hopefully) to see in the future."

"The majority of the Court simply replaced the people’s opinion about what marriage is with its own," he said.

In each of this week's three main big rulings, Justice Anthony Kennedy, who was appointed in the 1980s under the conservative Ronald Reagan but is considered moderate, sided with his progressive counterparts.

Roberts, the chief justice, also added his vote to the health care ruling, perhaps to protect the court from accusations it voted along political lines.

Constitution 'pliable, long-lasting guide'

"This is not about a 'conservative' or 'liberal' court," said Lisa Linsky, a partner at the McDermott Will & Emery law firm.

"This is about the highest court in the land being cognizant of the world around it and the fundamental principles and protections that are embedded in our constitution," Linsky said.

"The founding fathers of this country created the constitution to be a pliable, long-lasting guide for living life in a civilized society," she added.

These cases "impacted real people in profound and far-reaching ways," she told AFP, noting that "any other result would have caused chaos."

If the Obamacare ruling had gone the other way, millions of people could have been left without health insurance.

"Their attention in that case to the economic realities of the health insurance market was part of their statutory interpretation, not some free-floating analysis of what would be good policy," said David Cruz, an expert from the University of Southern California Gould School of Law.

In the gay marriage ruling, Kennedy wrote that same-sex couples should not be denied the "constellation of benefits" afforded married partners, such as tax and inheritance rights.

Mary Margaret Penrose, a law professor at Texas A&M University, noted that "the receipt of these benefits traditionally are matters of policy and legislation, not constitutional mandate."

Steve Sanders, who teaches constitutional litigation at the Indiana University Maurer School of Law, said the court should be expected to show some flexibility.

"The point is not that we should make law by opinion poll," he said.

"The point is that, under our Constitution, we expect courts to step in and act when a minority group is being denied a fundamental right based on the transient passions and discredited motives of a political majority."

Statistics show that during the current Supreme Court session, which is set to end Monday, the justices have taken more left-leaning decisions.

According to a New York Times analysis, about 56 percent of rulings by the court were considered progressive.

source: interaksyon.com

Oil prices little changed as U.S. oil stocks data disappoints

SINGAPORE - Oil prices were little changed in early Asian trade on Thursday as an unexpected build in U.S. gasoline inventories offset a higher than forecast draw in U.S. crude inventories, while Brent was supported by buoyant manufacturing figures from Europe.

Brent crude for August delivery rose 10 cents to $63.59 a barrel by 0130 GMT (0930 EDT), after settling down 96 cents, or 1.5 percent, in the previous session.

U.S. crude for August delivery shed 9 cents to $60.18 a barrel, after ending the previous session down 74 cents, or 1.2 percent.

"The market is disappointed with last night's numbers," said Mike McCarthy, chief market strategist at Sydney's CMC Markets.

"The spread (between Brent and U.S. crude) had narrowed so it's not surprising it's diverging," McCarthy said.

The spread between Brent and West Texas Intermediate had narrowed towards $3 in trading on Wednesday but was widening in early trade on Thursday.

He said Brent was being supported by strong data from the Euro zone earlier this week which showed private businesses expanded at their fastest pace in four years this month.

But U.S. crude was down due to the larger than expected build in gasoline inventories after the U.S. Department of Energy's Energy Information Administration released oil stocks data on Wednesday.

The build in gasoline stocks came despite U.S. gasoline demand in the week to June 19 being at highest level for the period since 1991.

U.S. gasoline stocks climbed 680,000 barrels to 218.49 million in the week to June 19, compared with a Reuters poll which expected a 304,000-barrel drop, EIA data showed.

That was despite a larger than expected fall in U.S. crude inventories, which fell for the eighth straight week, by 4.9 million barrels to 462.99 million, in the week ending June 19, compared with analyst expectations of a 2.1 million barrel draw, the EIA said.

source: interaksyon.com

Japan shares clear 18-year peak, dollar firm

SYDNEY - Asia shares were trying to score a sixth session of gains on Wednesday as investors chose to be optimistic on the chances of a Greek debt deal, while the dollar held firm as the prospect of U.S. rate rises came back into view.

Japan's Nikkei led the way as a rise of 0.5 percent cleared a peak from 2000 to reach ground last trod in late 1996.

MSCI's index of Asia-Pacific shares outside Japan edged up 0.13 percent to bring its gains over the past six sessions to about 2.9 percent.

In China, official efforts to calm jittery investors seem to have steadied sentiment after steep losses last week. Shanghai stocks were up 1.6 percent but trade remained volatile.

Gains on Wall Street had been minor, though still enough to see the Nasdaq to a record peak. The Dow ended Tuesday up 0.13 percent, while the S&P 500 added 0.06 percent and the Nasdaq 0.12 percent.

Risk appetites were whetted after Greece's leftwing government expressed confidence that parliament would approve a debt deal with lenders, despite an angry reaction from some of its own lawmakers.

EU finance ministers meet on Wednesday to discuss whether or not to put the plan to euro zone state heads. If it goes ahead, the Greek parliament could vote as early as this weekend.

Bond investors were encouraged enough to push down yields on Greek 10-year debt by 60 basis points, with yields in Italy and Portugal following.

Yields went the other way in the United States following a string of generally upbeat economic data and comments from Fed Governor Jerome Powell that the economy could be ready for interest rate increases in both September and December.

That was unwelcome news for debt markets which are priced for only one hike this year. Yields on 10-year Treasury notes duly rose to their highest in 1-1/2 weeks at 2.43 percent.

"Markets appear to have interpreted the prospect of a deal between Greece and its creditors as removing a source of uncertainty, which may allow the Fed to commence hiking interest rates in September," said analysts at ANZ.

All of which helped give the U.S. dollar index its biggest daily gain since late May.

The greenback was particularly strong against the euro, which had peeled off to $1.1176 from a $1.1410 top at the start of the week. Against the yen, the euro was down at 138.34, having fallen from 140.

The dollar was also firm at 124.86 yen and well above the recent trough of 122.46.

In commodity markets, oil prices rebounding ahead of U.S. inventory data expected to show strong demand for gasoline.

U.S. crude futures added 11 cents to $61.12 a barrel, while Brent rose 10 cents to $64.55.

Gold slipped on the firmer dollar to reach $1,176.90 an ounce.

source: interaksyon.com

Rap mogul Diddy arrested in Los Angeles for assault

LOS ANGELES | American rap mogul Diddy was arrested in Los Angeles on Monday for assault with a deadly weapon — in this case, a kettlebell.

No one was seriously hurt in the incident at the University of California, Los Angeles sports center, and police have launched an investigation, the school said.

Diddy — real name Sean Combs, 45 — likely will be moved to the Los Angeles County Sheriff’s Department Inmate Reception Center, officials said.

Entertainment website TMZ said that Combs attacked one of the trainers at the center.

It was not immediately clear what transpired. But one of Comb’s sons has played in special teams for the university’s squad.

“I’m thankful that our staff showed the level of professionalism that they did in handling this situation. This is an unfortunate incident for all parties involved,” football coach Jim Mora said in a statement.

“While UCPD continues to review this matter, we will let the legal process run its course and refrain from further comment at this time.”

Combs, who had a hand in the careers of artists including Mary J. Blige, Biggie, Usher and Lil’ Kim, has an estimated $700 million fortune.

He has worked an a top artist, producer, actor, fashion designer, fashion brand owner and investor.

source: interaksyon.com

Greece submits fresh plan on eve of EU emergency summit

ATHENS, Greece - Greek Prime Minister Alexis Tsipras presented new proposals to European leaders Sunday aimed at ending his country's debt crisis, on the eve of a summit that could determine whether Greece crashes out of the eurozone.

In a telephone call with German Chancellor Angela Merkel, French President Francois Hollande and European Commission President Jean-Claude Juncker, Tsipras detailed a "mutually beneficial deal", the Greek premier's office said in a statement.

Italian Prime Minister Matteo Renzi urged the two sides to seize a "window of opportunity", saying all conditions were in place for them to reach a "win-win accord".

Athens said its new proposals were aimed at reaching a "definitive solution" to the five-month standoff between Athens and its creditors -- the European Commission, International Monetary Fund and European Central Bank -- as fears deepened over a potential "Grexit" from the eurozone.

The heads of the 19 eurozone countries will hold an emergency summit on the crisis in Brussels on Monday under pressure to prevent Greece from defaulting on its debt with a June 30 payment deadline fast approaching.

Sanity will prevail

The head of Greece's biggest bank said she thought "sanity will prevail" on Monday.

"To enter into such uncharted waters and take up all the risk both for the eurozone and for Greece for two or three billion (euro) difference, I think it's insane," National Bank of Greece chief Louka Katseli told BBC radio.

Greece's anti-austerity government met Sunday to refine its proposals, while a European source said Tsipras and Juncker "held talks Saturday and will again speak Sunday", adding that there were many exchanges and "informal work under way to find a solution".

Failing a deal, Greece is likely to default on an IMF debt payment of around 1.5 billion euros ($1.7 billion) due on June 30, setting up a potentially chaotic exit from the eurozone.

Last Wednesday the Greek central bank put the risk in stark terms saying: "Failure to reach an agreement would... mark the beginning of a painful course that would lead initially to a Greek default and ultimately to the country's exit from the euro area and -– most likely -– from the European Union."

The IMF was called in to help rescue Greece at the end of 2009 when the debt-plagued country could no longer borrow on international markets.

The EU's involvement in the huge bailout, which was to provide 240 billion euros ($270 billion) in loans in exchange for drastic austerity measures and reforms, runs out at the end of this month, but IMF support was supposed to continue to March 2016.

Talks between Greece's radical-left government and its lenders have been deadlocked for five months over the payment of the final 7.2 billion euro tranche of the bailout, with talk also turning to an extension of the European help.

For the Greek government any extension of the bailout should be about kickstarting the country's devastated economy and not further austerity.

They also want an easing of the country's crippling debt burden, which officially stood at 312.7 billion euros, or 174.7 percent of gross domestic product, in March.

The international lenders have rejected a series of proposals from Athens, insisting on their own mixture of cuts and reforms.

Minister of state Nikos Pappas, who is close to Tsipras, said the counter-proposals would be "unacceptable to whichever Greek political party" was in power.

Bridging the gap

Alekos Flambouraris, another Tsipras minister, said Saturday that Athens would propose reworked measures that "bridge the gap", while also predicting that Greece's creditors would not be satisfied with the gestures, Greek media reported.

"You'll see they won't accept loosening budget (restrictions), or our proposal on the debt," he said of two main sticking points in the talks.

But the country's Finance Minister Yanis Varoufakis, whose flamboyant style has irked many of his European counterparts, turned the tables by putting the onus on the leader of paymaster Germany to do a deal.

"The German chancellor has a clear decision to make on Monday," he wrote in an op-ed for the Frankfurter Allgemeine Zeitung.

"On our side, we will come with determination to Brussels to agree to further compromises as long as we are not asked to do what the previous (Greek) governments have done: accept new debt under conditions that offer little hope for Greece to repay its debts," he wrote, without specifying the compromises.

Demonstrators around Europe on Saturday took to the streets to protest against spending cuts and austerity measures taken by their governments, and expressing solidarity with Greece.

source: interaksyon.com

Wall St falls as Greek deadline looms; indexes up for week

NEW YORK - U.S. stocks fell on Friday ahead of a summit next week that could decide whether Greece will need to print its own currency and ditch the euro.

Euro zone leaders are scheduled to meet on Monday night in a last-ditch effort to reach a deal with Athens. As bank withdrawals across Greece ballooned to about 4.2 billion euros this week, the European Central Bank boosted its emergency funding for Greek banks.

Friday's decline in stocks "has to do with the meeting on Monday," said King Lip, chief investment officer at Baker Avenue Asset Management in San Francisco. "It's sort of the last lifeline they are going to throw out to Greece and people are selling ahead of that because of the uncertainty."

Lip said, however, that any sharp selling because of developments on Monday could be yet another buying opportunity for investors in U.S. stocks.

"If Greece leaves the union, that removes an uncertainty and is actually good for the markets over the long run; if there is a resolution, that is also good," said Lip. "In some way, whatever happens on Monday is a win-win and (a market selloff) is a buyable dip."

The Dow Jones industrial average fell 101.56 points, or 0.56 percent, to 18,014.28, the S&P 500 lost 11.48 points, or 0.54 percent, to 2,109.76 and the Nasdaq Composite dropped 15.95 points, or 0.31 percent, to 5,117.00.

For the week, the Dow gained 0.6 percent, the S&P added 0.7 percent and the Nasdaq, which had closed at a record high on Thursday, rose 1.3 percent.

Utilities led the S&P 500 decline in percentage terms, down 1 percent as a group after gaining 2.7 percent over the previous three sessions.

A market debut fizzled, with shares of 8point3 Energy Partners down 2.4 percent at $20.49. It offered 20 million shares that priced at $21, the top-end of the filed range.

ConAgra Foods' shares jumped 10.9 percent to $43.37 after activist hedge fund Jana Partners took a stake in the company. ConAgra's peer Pinnacle Foods rallied 8.6 percent to $46.81 after earlier hitting a record high of $47.21.

Macerich slumped 6.8 percent to $76.87. Sources told Reuters Simon Property Group was selling its ownership stake in the No. 3 U.S. mall operator. Simon fell 1.3 percent to $179.48.

KB Home rose 9.4 percent to $16.37 after the homebuilder's quarterly results beat estimates.

Declining issues outnumbered advancing ones on the NYSE by 1,788 to 1,257, for a 1.42-to-1 ratio on the downside; on the Nasdaq, 1,557 issues fell and 1,254 advanced for a 1.24-to-1 ratio favoring decliners. The S&P 500 posted 29 new 52-week highs and 2 new lows; the Nasdaq recorded 161 new highs and 40 new lows.

About 7.9 billion shares changed hands on U.S. exchanges, above the 6.03 billion daily average so far this month, according to BATS Global Markets.

source: interaksyon.com

McCartney, Morrissey show different paths of activism

DOVER | Paul McCartney dedicated a Beatles ballad to the victims of the Charleston church massacre as he voiced hope for peace among races.

The former Beatle enjoyed a rapturous welcome by thousands Friday night as he played the Firefly Music Festival in the eastern U.S. state of Delaware, where another British music legend, Morrissey, offered his own, more provocative brand of on-stage activism.

Early in a two-and-a-half-hour set on a steamy night, McCartney played “The Long and Winding Road” — the melancholy 1970 song that spoke of The Beatles’ breakup — in tribute to the nine African Americans gunned down at a historic Charleston, South Carolina church by a suspected white supremacist.

McCartney called on the momentarily hushed audience to “take a moment to pray for peace and harmony among the people of different colors.”

He returned to the theme with The Beatles’ “Blackbird,” with its call to “take these broken wings and learn to fly.”

McCartney recalled that he recorded “Blackbird” in 1968 as he looked at racial tensions engulfing the United States and added: “It has echoes today.”

But the rock icon was not exclusively somber, as he delighted the crowd with Beatles classics such as “Can’t Buy Me Love,” “Helter Skelter” and “Live and Let Die,” electrified by pyrotechnics on stage and fireworks overhead.

McCartney also dedicated songs to his late bandmates John Lennon and George Harrison and played a cover of “Foxy Lady” by Jimi Hendrix, as he spoke fondly of his time with the late guitar visionary.

McCartney, sweaty but with unmistakable stamina, turned 73 on Thursday. He was starting the latest U.S. leg of his “Out There” global tour that opened more than two years ago.

MORRISSEY THE PROVOCATEUR

Choosing a different path than the crowd-pleasing McCartney, Morrissey was characteristically unflinching in confronting the audience with his views.

Showing solidarity with the burgeoning U.S. protest movement against alleged police brutality, Morrissey sang underneath a video montage of officers roughing up citizens — including the notorious 1991 beating of Los Angeles motorist Rodney King.

“They say, ‘To protect and to serve’ / But what they really mean is / Get back to the ghetto,” Morrissey sang as he brought out his relatively obscure song “Gangland.”

But Morrissey faced the most emotive response as he showed grotesque images of the slaughter of animals, most writhing in pain, for “Meat is Murder,” the title track of his former band The Smiths’ cult classic 1985 album.

The video was presumably kept from a previous concert in Tel Aviv as it was subtitled in Hebrew and highlighted Israeli slaughterhouses.

Such videos are a mainstay of concerts by Morrissey, a staunch vegan. But the footage was clearly not anticipated by much of the Firefly audience, which was strikingly small for a Morrissey show and dominated by half-attentive revelers.

Several young men held up their middle fingers and chanted “KFC!”, in response to Morrissey’s denunciation of the fast food chain, although the jeerers were drowned out by applause.

Morrissey generally insists that his venues go vegetarian, with New York’s Madison Square Garden complying for his June 27 concert, but Firefly was meat-heavy with the closest food stands to his stage including “Cheesy Pig” and “Sausage Haus.”

Morrissey ended with the hard-charging Smiths track “What She Said,” delivering an intense version reminiscent of the performance on the former band’s live album “Rank,” with drummer Matt Walker concluding at Firefly by trashing his kit.

GROWING FESTIVAL

Set in the woods near the Dover International Speedway, Firefly started in 2012 in hopes of giving the US East Coast a major music festival in the league of California’s trend-setting Coachella.

Some 90,000 people are attending this year’s four-day event, the first time Firefly has sold out.

While many festival promoters face local tensions, Firefly has enjoyed support as officials take notice of the rapid rise of festivals in the United States, said Greg Bostrom, its director.

“Instead of saying, ‘Hey, 90,000 crazy, screaming kids, get them out of our backyard,’ they say, ‘Bring more,’” he said.

As if to reinforce the point, Delaware Governor Jack Markell showed up and voiced enthusiasm — not only for the economic impact to his small, tourism-friendly state, but for the music.

Citing recommendations from his son, the 54-year-old governor said he was most excited to see indie rockers Spoon.

source: interaksyon.com

Gunman opens fire in South Carolina church, casualties reported

WASHINGTON -- A gunman opened fire at a historic black church in downtown Charleston, South Carolina late Wednesday, police said.

It was not immediately clear how many people had been shot, but the Charleston Post and Courier said eight people had been wounded.

The Charleston police department said the suspect is a clean-shaven white man, aged about 21. As of 11:30 pm (0330 GMT), the suspect was still at large.

Local network ABC4 News said police were also investigating a possible bomb threat.

The shooting happened at the Emanuel African Methodist Episcopal Church. According to its website, it is the oldest such church in the US south.

source: interaksyon.com