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Wednesday, January 22, 2020

Business News, Updates

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Business News, Updates


Trump says reforming Social Security and Medicare is 'the easiest of all things' as he appears open to cutting entitlement spending

Posted: 22 Jan 2020 11:03 AM PST

U.S. President Donald Trump gestures as he holds a news conference at the 50th World Economic Forum (WEF) in Davos, Switzerland, January 22, 2020. REUTERS/Jonathan ErnstReuters

  • President Trump appeared to be open to cutting entitlement spending on Social Security and Medicare in a CNBC interview that aired Wednesday.
  • He said a reform effort could occur at the "right" moment and appeared to credit the economy for providing momentum.
  • The White House didn't respond to a request for comment.
  • Any attempt to cut spending on either program would mark a break from his 2016 campaign pledge to preserve Social Security and Medicare.
  • Visit Business Insider's homepage for more stories.

President Trump left the door open to overhauling Social Security and Medicare in a CNBC interview on Wednesday, calling any attempt to rein in entitlement spending as "the easiest of all things."

Trump made the remarks at the World Economic Forum in Davos, Switzerland, where he's touted a message of economic resurgence at the elite gathering of wealthy investors, business titans and academics.

See the rest of the story at Business Insider

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LIVE: Lead House impeachment manager Adam Schiff lays out how Trump's own officials cemented the case against him

Posted: 22 Jan 2020 11:03 AM PST

Trump, McConnellTom Williams/CQ Roll Call

  • President Donald Trump's impeachment trial in the Senate resumed in earnest Wednesday with opening arguments.
  • C-SPAN and TV networks relied on the Senate's live feed of the trial filmed with Congress' cameras.
  • Scroll down to follow Insider's live coverage of the historic trial.
  • Visit Business Insider's homepage for more stories.

President Donald Trump's impeachment trial resumed in earnest Wednesday as the two sides begin presenting their opening arguments for and against Trump's removal from office.

The House of Representatives impeached Trump last month on two charges: abuse of power and obstruction of Congress.

Both charges relate to Trump's efforts to strong-arm the Ukrainian government into pursuing investigations that could be politically beneficial to him while withholding vital military aid and a White House meeting that Ukrainian President Volodymyr Zelensky desperately sought.

Opening arguments kicked off Wednesday at 1 p.m. ET.

C-SPAN and TV networks relied on the Senate's live feed of the trial filmed with Congress' cameras.

C-SPAN aired and livestreamed the trial at cspan.org.

You can watch the opening arguments below:

Youtube Embed:
//www.youtube.com/embed/b_-WhVNnIHQ
Width: 560px
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Schiff details how Trump's own officials made the case against him

AP Photo/Andrew Harnik

Schiff singled out the nonpartisan, career public servants who defied Trump's orders not to testify in the impeachment inquiry.

He specifically mentioned:

  • Marie Yovanovitch, the US's former ambassador to Ukraine.
  • Bill Taylor, a career diplomat who served as interim ambassador to Ukraine after Yovanovitch's ouster.
  • Lt. Col. Alexander Vindman, a war veteran who serves as the top Ukraine expert on the National Security Council.

Were it not for these and other career government officials, Schiff said, the extent of Trump's scheme would not have come to light.

Indeed, the impeachment inquiry began with a whistleblower's complaint detailing an infamous July 25 phone call Trump had with Zelensky, in which he repeatedly asked Zelensky to investigate former Vice President Joe Biden and his son for corruption. Trump also asked Zelensky to look into a bogus conspiracy theory suggesting Ukraine interfered in the 2016 election.

He pushed Zelensky to work with his personal lawyer, Rudy Giuliani, on the investigations.

But testimony from Yovanovitch, Taylor, Vindman, and others showed that the phone call was just one data point in what turned out to be an extensive effort to bully Ukraine into caving to Trump's demands while holding up foreign aid.



Rep. Adam Schiff, chairman of the House Intelligence Committee delivers a powerful statement justifying Trump's impeachment

Screenshot via CNN/Capitol Hill TV

Schiff, the lead House impeachment manager, made an opening statement that laid out, in explicit detail, Trump's months-long campaign to force Ukraine to accede to his personal, political demands, and leveraging US foreign policy while doing so.

The California Democrat also addressed the president's argument that the impeachment inquiry is a "sham" that's robbing the American people of the opportunity to weigh in at the ballot box in November.

Trump's actions represent an "attempt to use the powers of the preisdency to cheat in an election," Schiff said. "For precisely this reason, the president's misconduct cannot be decided at the ballot box, for we cannot be assured that the vote will be fairly won."

"The president has shown that he believes that he's above the law and scornful of constraint," he added.

Schiff also emphasized that this is not the first time Trump has "solicited foreign interference" in an election. He pointed to an infamous press conference in July 2016, during which Trump said, "Russia, if you're listening, I hope you're able to find the 30,000 emails that are missing," referring to then Democratic nominee Hillary Clinton's deleted email messages.

"When the president said, 'Hey Russia, if you're listening,' they were listening," Schiff said. "Only hours later they hacked his opponent's campaign."

Moreover, Schiff added, Trump "has made it clear" this will "not be the last time" he solicits foreign interference.

Addressing the Senate, Schiff went on to say the House impeachment managers will, over the next several days, present "overwhelming evidence," notwithstanding Trump's "unprecedented and wholesale obstruction of the investigation" into his conduct, to prove that he should be removed from office.

"You will read and hear testimony from courageous public servants" who cooperated "despite a categorical order from president trump to not coorperate with the impeachment inquiry."

He also said the Senate would hear from witnesses who haven't yet testified, like former national security adviser John Bolton, acting White House chief of staff Mick Mulvaney, and senior aides in the Office of Management and Budget and other federal agencies.

"You will hear their testimony at the same time as the American people: that is, if you allow it. If we have a fair trial," Schiff said.



A summary of what to expect

Tom Williams/CQ Roll Call

This week, Senate Majority Leader Mitch McConnell drafted a resolution calling for each side to be given 24 hours to argue their case over three days of trial. Senators will then be given 16 hours for questioning.

The resolution, which passed Tuesday evening, allows for senators to vote on whether to call witnesses. If they vote to do so, the witnesses would be deposed behind closed doors before a separate vote on whether to have to have them testify publicly.

As with any other trial, Trump's impeachment trial consists of two sides. Supreme Court Chief Justice John Roberts is presiding over the trial.

The prosecutors, known here as impeachment managers, consist of lawmakers from the House of Representatives. The defense team is made up of lawyers tapped by the president.

Below are the seven lawmakers who Pelosi named last week to serve as impeachment managers:

  • Rep. Adam Schiff of California
  • Rep. Jerry Nadler of New York
  • Rep. Zoe Lofgren of California
  • Rep. Val Demings of Florida
  • Rep. Hakeem Jeffries of New York
  • Rep. Jason Crow of Colorado
  • Rep. Sylvia Garcia of Texas

Starting Wednesday, the impeachment managers, led by Schiff and Nadler, are expected to take several days to present their evidence against the president. This will include relevant testimony and documents that were obtained during the impeachment inquiry in the House last year.

But it's also likely to include new details and documents that Lev Parnas, one of Trump's Ukrainian associates intricately involved in the Ukraine pressure campaign, provided to the House Intelligence Committee this month.

Next up, Trump's legal team will argue against impeachment and removal and move to have the charges tossed out. The defense's arguments will also most likely last several days. Here are the lawyers representing Trump in various capacities:

  • Pat Cipollone, the White House counsel, who is spearheading the defense team
  • Michael Purpura, Cipollone's deputy in the White House counsel's office
  • Patrick Philbin, another deputy in Cipollone's office
  • Jay Sekulow, Trump's personal lawyer
  • Jane Raskin, Trump's personal lawyer
  • Kenneth Starr, the former Whitewater independent counsel
  • Robert Ray, who succeeded Starr as independent counsel in the Whitewater investigation
  • Alan Dershowitz, a Harvard emeritus law professor and constitutional and criminal-law scholar
  • Pam Bondi, the former attorney general of Florida

The president's legal team has argued that the charges against him, along with the impeachment process as a whole, are "constitutionally invalid" and should be dismissed. It is likely to drill down on this argument during its opening arguments.

Trump's lawyers have repeatedly made contradictory or outright false statements about the impeachment process itself and the constitutionality of impeaching Trump.

On Tuesday, for instance, as the Senate debated the rules of the trial, Sekulow said Democrats didn't seek enough testimony from witnesses before charging the president with abuse of power and obstruction of Congress.

He failed to mention that the reason Democrats were unable to obtain key testimony from senior officials was the White House's directive that no one cooperate with the impeachment inquiry.

Sekulow also argued the courts should step in to settle disputes between Trump and Congress over subpoenas and witness testimony. But the Justice Department has argued for months that the courts should not have a role in the matter because it would become politicized.

At another point, Sekulow said the special counsel Robert Mueller's report on Russian interference in the 2016 election found no evidence of obstruction of justice.

In fact, Mueller's team outlined more than 10 instances that fit the criteria for obstruction but declined to make a "traditional prosecutorial judgment" because of Justice Department guidelines barring prosecutors from indicting a sitting president.

The Senate trial will go on for six days a week — senators get Sunday off — and is expected to begin at 1 p.m. ET every day to accommodate Roberts' schedule for the Supreme Court. The trial is likely to last about two weeks but could go longer if the Senate changes the rules of procedure.

Grace Panetta contributed to this report.



See Also:

SEE ALSO: Mitch McConnell pulled a 'Machiavellian' move to swing Trump's impeachment trial in his favor

How 5G and the IoT will transform telecoms, enterprise, government, and consumer tech

Posted: 22 Jan 2020 11:01 AM PST

This is a preview of recent Connectivity & Tech research from Business Insider Intelligence. Business Insider Intelligence offers even more technology coverage with Connectivity & Tech Pro. Subscribe today to receive industry-changing connectivity news and analysis to your inbox. sh C and T Infographic@2x

Want more Connectivity & Tech research? Here's how to get access:

  1. Sign up for Connectivity & Tech Pro , Business Insider Intelligence's expert product suite keeping you up-to-date on the people, technologies, trends, and companies shaping the future of connectivity, delivered to your inbox 6x a week. >> Get Started
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How to change your Apple Music plan in 3 simple steps

Posted: 22 Jan 2020 11:01 AM PST

iPhone Apple Musicmrmohock/Shutterstock

  • You can change your Apple Music plan from your iPhone or iPad, using the Settings app.
  • In the Settings app, you'll have to open your Apple ID profile, where you can change your Apple Music preferences.
  • An individual Apple Music plan costs $9.99 per month, while the Family Plan is $14.99 per month, and a student plan is $4.99 per month.
  • Visit Business Insider's homepage for more stories.

Apple Music offers several plans at different price points, including a student plan (which is discounted) and a Family Plan (which allows up to six people to share one account).

And luckily, if you pick one plan but later find that you'd like to sign up for another, it's easy to change your Apple Music plan.

See the rest of the story at Business Insider

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How to video chat on WhatsApp using your iPhone or Android device

Posted: 22 Jan 2020 10:52 AM PST

FILE PHOTO: A man poses with a smartphone in front of displayed Whatsapp logo in this illustration picture September 14, 2017. REUTERS/Dado RuvicReuters

WhatsApp is a free messaging app owned and operated by Facebook where you can message, video or voice chat, and share status updates with contacts across the globe. 

If you have an Android or iPhone and have the WhatsApp application already installed, setting up a video chat call is fairly simple on either device. There is even an option to add multiple users to create a group video call — all you need is a Wi-Fi connection or cellular data. 

See the rest of the story at Business Insider

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Express is closing 31 stores in 20 states this month. See if your local store is on the list.

Posted: 22 Jan 2020 10:49 AM PST

express storefront.JPGREUTERS/Rick Wilking

  • Express is closing 100 stores by 2022, including 31 stores across 20 states by the end of January 2020. 
  • Business Insider obtained the full list of Express stores closing this month, organized by state.
  • Visit Business Insider's homepage for more stories.

Express is closing 100 stores by 2022, the company announced in a statement on Wednesday.

The closures include 31 stores across 20 states that will shutter by the end of the month, building upon the nine locations that closed in 2019. An additional 35 locations are expected to close by the end of January 2021, leaving a remaining 25 to shutter next year, Express officials said in a presentation to investors. 

According to CEO Tim Baxter, the downsizing is part of a larger cost reduction strategy aimed at helping to bolster the ailing mall brand. 

"My expectation is that we will return to a mid-single-digit operating margin through a combination of low-single-digit comp sales growth, margin expansion and cost reductions," Baxter said in a statement. "This will of course take some time, but we have a clear path."

An Express spokesperson provided a full list of the 31 stores closing this month. Here's the list of stores, organized by state: 

Arizona

REUTERS/Rick Wilking

  • Phoenix: Paradise Valley Mall, 4568 E Cactus Rd.



Arkansas

REUTERS/Brendan McDermid

  • Little Rock: Park Plaza Mall, 6000 W Markham St.



California

REUTERS/Lucas Jackson

  • Citrus Heights: Sunrise Center, 6041 Sunrise Blvd.
  • Fairfield: Solano Town Center, 1350 Travis Blvd
  • San Jose: Westfield Oakridge, 925 Blossom Hill Rd.
  • Visalia: Visalia Mall, 2031 S Mooney Blvd.




See the rest of the story at Business Insider

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A stunning Victorian home built in 1891 just came on the market in San Francisco for $4.5 million

Posted: 22 Jan 2020 10:47 AM PST

132

  • A 4,000 square foot home is on the market in San Francisco for $4.5 million.
  • It's a Queen Anne-style Victorian and was built way back in 1891.
  • It has five bedrooms, including an in-law apartment that could be rented out or purchased separately.
  • Visit Business Insider for more stories.

Victorians are iconic to San Francisco, and now a great example is on the market. 

This 1891 home in San Francisco's Eureka Valley is in great shape despite it's more than 100 years of age. New hardwood floors, plus updated bathrooms and kitchens brought the home into the 21st century, with charming historic details like stained glass and crown molding in place.

Photos show this light-filled home at 251-253 Collingwood Street has stunning views, and plenty of outdoor space, with a charming porch. The entire home is available for $4.5 million, with the option to purchase the main house and smaller apartment separately. The main home is on the market for $2.995 million, and the one bedroom, one bathroom apartment is on the market for $1.495 million. It might be hard for buyers to pass up the entire property, though.

The house is listed with Suzy Reilly at Compass.

Take a look inside this picturesque Victorian home.

The tri-level home was built in 1891.

Open Homes Photography

Despite its age, the house is surprisingly well-maintained.

Open Homes Photography

It's a traditional Queen Anne-style Victorian, but with modern updates.

Open Homes Photography


See the rest of the story at Business Insider

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What exercises burn belly fat, and how to do them at home

Posted: 22 Jan 2020 10:42 AM PST

ladder abs cropJorge Quinteros

  • Core exercises that burn belly fat include side planks, hollow holds, and straight leg-toe touches.
  • Full-body exercises like rowing, push-ups, and squats can also help burn belly fat. 
  • Here's how to do these exercises, with a full example workout that you can do at home or at the gym. 
  • This article was reviewed by Joey Thurman, CSCS, CPT, FNS, a Chicago-based fitness expert and MYX Fitness coach.
  • Visit Insider's homepage for more stories.

If firming up your midsection is on your to-do list, you're not alone. Getting rid of stubborn belly fat is one of the most common goals for people looking to lose weight and get fit. 

And while targeted fat loss or spot reduction does not work, you can tighten and tone this area — along with the rest of your body — by exercising and following a healthy diet. 

See the rest of the story at Business Insider

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How to create a guest account on your Windows 10 computer in 6 steps

Posted: 22 Jan 2020 10:34 AM PST

Microsoft Surface 3 9Hollis Johnson/Business Insider

  • You can create a guest account on your Windows 10 computer by using the Command Prompt feature.
  • Windows 10's Command Prompt program allows you to move accounts into the "Guests" list, which prevents guests from changing any administrative info on your computer.
  • Visit Business Insider's homepage for more stories.

Most versions of Windows in the past allowed you to make "guest accounts." These accounts would let whoever used them open files and programs, but not change any of the computer's settings or preferences.

Unlike its predecessors, Windows 10 doesn't allow you to create a guest account normally. You can still add accounts for local users, but those local accounts won't stop guests from changing your computer's settings. 

See the rest of the story at Business Insider

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Virgin Galactic rockets higher after Morgan Stanley says interest in the stock matches Tesla

Posted: 22 Jan 2020 10:33 AM PST

Virgin Galactic IPO Richard BransonBrendan McDermid/Reuters

  • Virgin Galactic soared more than 14% Wednesday morning after Morgan Stanley said investor interest in the stock rivals that seen for Tesla.
  • The bank's analysts "are having more conversations" about Virgin Galactic than any other US stock they cover "with the possible exception of Tesla," according to a Wednesday note.
  • Morgan Stanley noted that the company's shares are approaching its $22 price target, but added that the stock "still has more than 250% upside potential" to the analysts' $60 bull-case target.
  • Watch Virgin Galactic trade live here.

Richard Branson's Virgin Galactic spiked more than 14% in early Wednesday trading after Morgan Stanley analysts said the stock's investor interest in on par with Tesla.

The company is already nearing the $22 price target set by Morgan Stanley in December, and is up 95% from its first day of trading in late October. Yet analyst Adam Jonas notes his $60 per share bull-case implies an additional 250% climb, and that a "significant increase" in investor interest can drive the stock higher in its first year of public trading.

See the rest of the story at Business Insider

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Jeff Bezos gave Saudi Crown Prince his number at a Hollywood dinner also attended by Kobe Bryant, Disney CEO Bob Iger, and Patriots owner Robert Kraft

Posted: 22 Jan 2020 10:33 AM PST

FILE PHOTO: Jeff Bezos, founder of Blue Origin and CEO of Amazon, speaks about the future plans of Blue Origin during an address to attendees at Access Intelligence's SATELLITE 2017 conference in Washington, U.S., March 7, 2017. REUTERS/Joshua Roberts/File PhotoReuters

  • Saudi Crown Prince Mohammed bin Salman and Jeff Bezos exchanged phone numbers at an April 2018 party in Hollywood, surrounded by other celebrities and CEOs.
  • Also in attendance at the party were Kobe Bryant, Patriots owner Robert Kraft, Disney CEO Bob Iger, Snapchat CEO Evan Spiegel, Vice co-founder Shane Smith, and former Trump aide Dina Powell, among others.
  • A UN report published Wednesday alleges that Bezos was hacked by Mohammed months after they exchanged phone numbers. A 2018 Vanity Fair story places Bezos and Mohammed at the party that night.
  • Visit Business Insider's homepage for more stories.

Before Jeff Bezos' personal phone was allegedly hacked by Saudi Crown Prince Mohammed bin Salman, the two men first exchanged numbers at a Hollywood party surrounded by celebrities, politicos, and CEOs.

According to the UN report that accuses Mohammed of carrying out the hack via WhatsApp, Bezos and Mohammed exchanged numbers on April 4, 2018 at a dinner attended by big names. A Vanity Fair story published that week places Bezos and Mohammed at a Hollywood dinner hosted by producer Brian Grazer and his wife, Veronica.

See the rest of the story at Business Insider

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As a shoe collector, I swear by these $10 foam inserts for preventing creases on my sneakers

Posted: 22 Jan 2020 10:30 AM PST

ForceField@forcefieldfresh on Instagram

  • I collect sneakers, and for the last 10 years, I've been using ForceFields to prevent my pairs from creasing while I wear them.
  • ForceFields' foam inserts go in the toe box of your shoe. They stay in place and they're so comfortable that you won't even notice them.
  • They're available in sizes small, medium, and large to accommodate most shoe sizes for men, women, and kids. 
Product Embed:
Product Name: Forcefield Crease Inserts
Card Type: small
https://produktor.businessinsider.com/productCardService?id=5e2882c462fa8121eb1413c9&type=small&live=true
Width: 100%
Height: 150%

Some sneaker collectors treat shoes like sacred artifacts that are only to be handled with clean white gloves in temperature-controlled environments and are never to be worn. And then there's me.

I believe that all sneakers are meant to be worn, no matter how rare or expensive they are, and that's exactly what I've done with my constantly growing collection. 

See the rest of the story at Business Insider

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Jessica Simpson says she was sexually abused as a young girl in her new memoir: 'I was the victim but somehow I felt in the wrong'

Posted: 22 Jan 2020 10:25 AM PST

Jessica SimpsonJason Merritt/ Getty Images

  • Jessica Simpson says that she was sexually abused as a young girl in her upcoming memoir, "Open Book."
  •  The 39-year-old singer says that a family friend's daughter sexually abused her when she was 6 years old, as reported by People. 
  • She says she told her parents six years later, however, Simpson says they didn't talk about the abuse.
  • The star reportedly self-medicated with "all the drinking and pills" before getting help and has been sober since 2017, according to People. 
  • "Open Book" becomes available on February 4.
  • Visit Insider's homepage for more stories.

Jessica Simpson opens up about the sexual abuse she says she faced as a 6-year-old for the first time in her upcoming memoir, "Open Book." 

On Tuesday, Liz McNeil at People magazine reported that the 39-year-old singer says that she was abused while sharing a bed with her family friend's daughter in the book.

See the rest of the story at Business Insider

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How to change your Spotify username by connecting your account to Facebook, on desktop or mobile

Posted: 22 Jan 2020 10:23 AM PST

spotify mac computerShutterstock

  • It's currently not possible to directly change your Spotify username or display name within the program. 
  • A workaround for this issue is to connect your Spotify account to Facebook, which you can do from a computer or mobile device, or to try contacting Spotify's support team. 
  • Connecting your account to Facebook will override your current Spotify username and replace it with your Facebook name.
  • Visit Business Insider's homepage for more stories.

Unfortunately, it's impossible to freely change your Spotify username — but there is a workaround.

The current working solution to the issue is to connect your Spotify account to Facebook. This will replace your original Spotify username with your Facebook username. And whenever you change your Facebook name, your Spotify name will update to match.

See the rest of the story at Business Insider

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A hedge-fund billionaire who invests like Warren Buffett is hoarding cash and warning the bull market won't last

Posted: 22 Jan 2020 10:21 AM PST

Seth KlarmanGetty Images/ Scott Olson

  • A hedge-fund billionaire nicknamed the "Oracle of Boston" for his similarities to Warren Buffett is hoarding cash and warning the bull run won't last.
  • "The rocket fuel that has propelled markets in 2019 will run out," Baupost boss Seth Klarman wrote in his annual letter to investors, according to Bloomberg.
  • Cash made up 31% of Baupost's portfolio at the end of December, Klarman said.
  • Visit Business Insider's homepage for more stories.

An investor nicknamed the "Oracle of Boston" for his similarities to Warren Buffett is hoarding cash and warning the bull run won't last.

"The rocket fuel that has propelled markets in 2019 will run out," Seth Klarman wrote in his annual letter to investors last week, according to Bloomberg, which reviewed a copy.

See the rest of the story at Business Insider

NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption

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When you should be worried about the Wuhan coronavirus, which has killed at least 17 people

Posted: 22 Jan 2020 10:19 AM PST

wuhan coronavirus preparednessAP Photo/Kin Cheung

The Wuhan coronavirus is mysterious, deadly, and circling the globe. 

As of Wednesday, China said that 17 people had been killed by the virus, which was first reported in December. 

See the rest of the story at Business Insider

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Capital One Spark Miles vs. Capital One Spark Cash: How do these two business credit cards compare?

Posted: 22 Jan 2020 10:13 AM PST

Capital One Spark Miles vs. Capital One Spark Cash 4X3Alyssa Powell/Business Insider

Recently, Capital One rolled out some very exciting sign-up bonuses on two of the top business credit cards
available today. With the Capital One Spark Miles and the Capital One Spark Cash, you can earn up to 200,000 miles or $2,000, respectively, provided you can meet a pretty hefty minimum spending requirement. These welcome bonuses are available until January 27, 2020, which is fast approaching.

While the welcome bonuses on these cards are similar, there are some distinct differences between these two cards when it comes to their earning structures and how you can redeem your rewards. Before you sign up, take the time to see how each one stacks up and how they might help you earn the type of rewards your business needs this year.

See the rest of the story at Business Insider

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The 25 most expensive countries to live in, ranked

Posted: 22 Jan 2020 10:09 AM PST

Reykjavik, IcelandBBandSIRI / Shutterstock

  • GOBankingRates determined the most expensive countries to live in. The United States landed within the top 25. 
  • To determine the most expensive countries, GOBankingRates looked at the daily cost of living in addition to the local purchasing power for each country, comparing each to the notoriously expensive New York City.
  • It also found that though rent tends to be cheaper in these countries than in New York City, other expenses factored into the cost of living tends to even things out.
  • Visit Business Insider's homepage for more stories.

Traveling to a country to visit is one thing; living there permanently is another.

According to GOBankingRates, which recently determined the most expensive countries to live in around the world, places like Norway, Switzerland, and Iceland all have homes which can be rented for almost half of what one could get in New York City. However, the cost of living in those countries is still much higher than that of the Big Apple when you factor in other common expenses.

For example, GOBankingRates reports that the cost of dining out is 25% higher in Norway than in New York City, while in Iceland, restaurant food prices are a staggering 33% higher and groceries 19% higher than in New York City.

Meanwhile, Sweden has a personal income tax rate of around 62%, while Switzerland has a worldwide income tax that can reach as high as 40% — as GOBankingRates points out, in Switzerland, a person is even taxed for living in their own home.

To determine which are the most expensive countries to live in, GOBankingRates analyzed each, relative to New York City, on five metrics: cost of living, rent, grocery prices, restaurant menu prices, and local purchasing power (defined as the relative purchasing power in buying goods and services in a given country for the average wage in that country).

The cost of living index and local purchasing power figures are all sourced from GOBankingRates and are relative to New York City; for example, Norway, with a 113.70 cost of living index, has a cost of living index 13.7% higher than New York City.

Keep reading to find out which are the top 25 most expensive countries to live in, listed from least to most expensive.

25. Malta

fokke baarssen/Shutterstock

Cost-of-living index: 70.92

Local purchasing power: 66.24

Alice Wilton of Malta Guides reports that one doesn't pay property taxes in Malta, and that, if moving from a US city such as New York or San Francisco, one could be cutting the cost of living by as much as 50% to 75%.



24. Canada

Dave Smith/Business Insider

Cost-of-living index: 72.48

Local purchasing power: 118.92

The National Bank of Canada reported that household expenses in the country can equal nearly half of one's net salary. In the province of Ontario, for instance, the average household expense was $88,953 CAD in 2016.

For 2016, the bank reported that, on average, about $20,000 goes towards housing, $16,000 goes to taxes, $12,000 goes to transportation, $9,000 to food, and $2,200 to education — not including clothes, health insurance, and personal care. 



23. United States

Atanas Bezov/Shutterstock

Cost-of-living index: 72.95

Local purchasing power: 127.62

San Francisco is one of the wealthiest and most expensive cities in the US, Hillary Hoffower previously reported for Business Insider. The average rent in the city is more than $4,500 — which is 2.5 times the national average. In addition, the average home price is $1.3 million, which is 4.4 times the national home price average.




See the rest of the story at Business Insider

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SEE ALSO: Here's the income you need to live comfortably in every state in the US

DON'T MISS: A curvy, futuristic La Jolla mansion that looks like something out of 'The Jetsons' is selling for $12.7 million — here's a look inside

SpaceX's license to launch hundreds of internet satellites may have violated the law, experts say. Astronomers could sue the FCC.

Posted: 22 Jan 2020 10:08 AM PST

spacex starlink global satellite internet network constellation earth globe orbit paths lines illustrationSpaceX

A federal agency may have violated the law when it licensed SpaceX to launch thousands of satellites, according to a forthcoming paper. That raises the possibility that disgruntled astronomers could sue.

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The nasty spyware likely used to hack Jeff Bezos lets governments secretly access everything in your smartphone, from text messages to the microphone and cameras — here's how it works

Posted: 22 Jan 2020 10:05 AM PST

Jeff BezosGetty

  • Amazon CEO Jeff Bezos had his phone hacked, and the primary suspect for the hacking is Saudi Crown Prince Mohammed bin Salman.
  • A UN report published Wednesday concludes that Bezos' iPhone was likely hacked using a notorious tool named Pegasus, created by the NSO Group — a secretive firm from Israel that bills itself as a leader in cyberwarfare. Saudi Arabian officials have been repeatedly connected to Pegasus hacks, according to a new UN report.
  • Pegasus enables hackers to remotely access everything in an infected smartphone, from text messages to location data — and it's next to impossible to know whether your phone was infected without a professional analysis. 
  • In the case of Bezos, hackers had access to his phone for "months," according to the UN report. 
  • Visit Business Insider's homepage for more stories.

Amazon CEO Jeff Bezos had his phone hacked for months, and gigabytes of his private data were stolen, according to a newly published UN report.

The primary suspect in the hacking: Saudi Crown Prince Mohammed bin Salman, a man he was exchanging WhatsApp messages with.

The how of the hack, according to a UN report published Wednesday morning, is maybe the wildest detail: "A 2019 forensic analysis of Mr. Bezos' iPhone that assessed with 'medium to high confidence' that his phone was infiltrated on 1 May 2018 via an MP4 video file sent from a WhatsApp account utilized personally by Mohammed bin Salman, the Crown Prince of the Kingdom of Saudi Arabia."

According to the UN report published on Wednesday, Bezos' phone was likely hacked using a notorious tool named Pegasus, created by the NSO Group — a secretive firm from Israel that bills itself as a leader in cyberwarfare.

So, how does Pegasus work? And how did it get inside the phone of the richest man in the world?

What is Pegasus?

REUTERS/Joshua Roberts

What Pegasus actually does is relatively simple: Once your smartphone is infected with Pegasus, the tool provides full access to it, remotely and discreetly.

That includes text messages, as well as your smartphone's camera and microphone. The spyware was created by an Israeli company, the NSO Group, and it's nothing new.

Pegasus was first discovered in 2016 when a man in the United Arab Emirates named Ahmed Mansoor was targeted with "suspicious text messages," John Scott-Railton, a senior researcher at The Citizen Lab at the University of Toronto's Munk School, told Business Insider in an interview last May.

The Citizen Lab is an academic research group that is credited as the first to identify a particularly malicious spying application named "Pegasus." 

"Those text messages actually came bearing some suspicious links," he said. "We thought they looked pretty dicey, so my colleague Bill [Marczak] borrowed a colleague's iPhone, clicked on the links, and was able to successfully get the phone infected with what was then a mystery piece of spyware."

That "mystery" spyware was actually Pegasus, and Mansoor was being targeted — most likely because of his work as a human-rights advocate. Mansoor is serving a 10-year prison sentence in the UAE for publicly criticizing the government.



Here's a photo of the smartphone-hacking hardware NSO Group sells.

Becky Peterson/Business Insider

Business Insider's Becky Peterson snapped a photo of the hacking hardware sold by NSO Group at a security conference in Paris. Read more about the photo here.



How was Bezos' phone hacked?

Joshua Roberts/Reuters and Alexander Zemlianichenko/Reuters

According to the UN report, Jeff Bezos and Saudi Arabia's Crown Prince Mohammed bin Salman "exchanged phone/WhatsApp numbers the month before the alleged hack."

It's through this connection, the report says, that the hack was performed.

"A 2019 forensic analysis of Mr. Bezos' iPhone that assessed with 'medium to high confidence' that his phone was infiltrated on 1 May 2018 via an MP4 video file sent from a WhatsApp account utilized personally by Mohammed bin Salman," the report says.

In short: The report contends that Crown Prince Mohammed sent Bezos a video file that, regardless of him clicking on the file, enabled Pegasus to infiltrate Bezos' iPhone.

"Within hours of receipt of the MP4 video file from the Crown Prince's account," the report says, "massive and (for Bezos' phone) unprecedented exfiltration of data from the phone began."

The contents of the video isn't clear, but The New York Times described it as having, "an image of Saudi and Swedish flags overlaid with Arabic text."




See the rest of the story at Business Insider

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