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2018年8月14日 星期二

On The Money: US farm export prices fall at steep rate | Dems say they will sue to keep Collins on ballot | Turkey threatens boycott of US electronics

 
 
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On the Money - The Hill Finance
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Happy Tuesday and welcome back to On The Money, where we're trying to learn a few things from Apple when it comes to lowering our tax bill. I'm Sylvan Lane, and here's your nightly guide to everything affecting your bills, bank account and bottom line.

See something I missed? Let me know at slane@thehill.com or tweet me @SylvanLane. And if you like your newsletter, you can subscribe to it here: http://bit.ly/1NxxW2N.

Write us with tips, suggestions and news: slane@thehill.com, vneedham@thehill.com, njagoda@thehill.com and nelis@thehill.com. Follow us on Twitter: @SylvanLane, @VickofTheHill, @NJagoda and @NivElis.

 

THE BIG DEAL--US crop export prices fall at steepest rate since 2011: U.S. agricultural export prices fell by 5.3 percent in July as retaliatory tariffs on American crops kicked into effect, according to Labor Department data released Tuesday

Prices for U.S. crops sold abroad fell last month at the fastest rate since October 2011, led by a 14.1 percent decrease in soybean prices. Export prices for corn, nuts, wheat and fruits also fell in July, likely due to tariffs imposed by nations including China, Canada and Mexico, as well as the European Union.

Export prices for all U.S. goods minus agriculture stayed even in July as falling prices for non-farm industrial supplies, materials and autos were offset by rising costs for nonagricultural foods. Import prices also stayed even in July after falling 0.1 percent in June.

Major U.S. trading partners responded last month to President Trump's tariffs on imported steel, aluminum and Chinese goods with duties on major American food exports. Those tariffs have raised production costs for U.S. farmers already struggling to compensate for sinking export prices. I'll tell you more about the numbers here.

 

LEADING THE DAY

Dems say they'll sue to keep Collins on ballot: Democrats are threatening to take the GOP to court to keep Rep. Chris Collins (R-N.Y.), who's been charged with insider trading, on the November ballot.

New York Democrats believe they have a better shot of flipping the red, Buffalo-area seat if the embattled congressman's name stays on the ballot, and they want to keep Republicans from replacing him with a potentially less toxic candidate.

"Our contention and a lot of people's contention is this is fraudulent to get him off the ballot," Erie County Democratic Party Chairman Jeremy Zellner told The Hill on Tuesday. "It is too late to get him off the ballot."

Federal officials last week arrested and charged Collins with securities fraud related to his involvement with an Australian pharmaceuticals company, giving Democrats hope they could win a GOP-held seat that wasn't even on campaign officials' radar days ago.

Scott Wong has the latest on Collins.

 

Turkey plans boycott of US electronics: Turkey on Tuesday announced that it will boycott American electronic devices amid tensions with Washington that have led to a historic Turkish currency crisis.

The Associated Press reported that Turkish President Recep Tayyip Erdogan did not clarify how the boycott would be enforced in an announcement of the measure.

"We will impose a boycott on U.S. electronic products. If they have iPhones, there is Samsung on the other side, and we have our own Vestel here," he said in a speech to members of his AK Party, referring to a Turkish electronics firm, Reuters reported.

Vestel's shares rose 5 percent after Erdogan's speech, according to Reuters.

 

Royal Bank of Scotland pays $4.9 billion for crisis-era misconduct: From Reuters: "Royal Bank of Scotland (RBS.L) will pay $4.9 billion to settle U.S. claims that it misled investors on residential mortgage-backed securities between 2005 and 2008, Justice Department said on Tuesday.

"The Justice Department said the penalty is the largest-ever imposed on a bank for misconduct leading up to the financial crisis. The bank announced in May that it had reached the settlement in principle.

"The government alleges RBS misled investors in underwriting and issuing residential mortgage-backed securities, understating the risks behind many of the loans and providing inaccurate data."

 

MARKET CHECK: From CNBC: "Stocks rose on Tuesday as a rebound in the Turkish lira from an all-time low lifted investor sentiment.

"The Dow Jones Industrial Average rose 112.22 points to close at 25,299.92, while the S&P 500 gained 0.6 percent to 2,839.96. Both indexes also snapped four-day losing streaks. The Nasdaq Composite advanced 0.7 percent, closing at 7,870.89.

"Tech shares contributed to the gains as Apple and Amazon rose 0.4 percent and 1.2 percent, respectively. Meanwhile, bank stocks rose as Goldman Sachs, Citigroup and Morgan Stanley all closed more than 1 percent higher. The lira rose about 8 percent to 6.36 after falling to a record-low 7.24 per dollar on Monday."

 

GOOD TO KNOW 

  • Sharp declines in the Turkish lira, Indian rupee and other currencies have raised the prospect of a self-reinforcing flight from riskier emerging markets, according to The Wall Street Journal.
  • Google's parent company, Alphabet, is investing $375 million in Oscar Health, a startup health insurance company seeking to redefine the industry by using technology and data.
  • Financial technology companies that lend online are striking a cautious note about the Office of the Comptroller of the Currency's plan to offer them special federal charters because of concerns over legal challenges and requirements, according to Reuters.
  • CNN explores how a dangerous mix of economic and political forces has triggered a crisis in Turkey and other emerging markets.
  • Fidelity Investments and T. Rowe Price Group Inc., two of the largest investors in Tesla Inc., announced that they each cut their stakes in the electric automaker by more than 20 percent, according to Bloomberg.

 

ODDS AND ENDS

  • Apple argued that buildings it owned around Cupertino, Calif., where it is headquartered, were only worth $200 instead of the $1 billion tax assessors deemed in 2015, according to appeals reviewed by the San Francisco Chronicle.
  • Con artists are zeroing in on the retirement savings and other assets of an aging population, some of whom might already be suffering from cognitive decline, according to Marketplace.
  • Often overlooked office fax machines pose a huge vulnerability to the cybersecurity of businesses and other organizations, according to a new study.
  • Tesla's board named a special committee of three directors on Tuesday to evaluate possibly taking the electric carmaker private, although it said it had yet to see a firm offer from the company's chief executive, Elon Musk.
 
 
 
 
 
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Marketing Day: Google collecting data in off-mode, transactional emails & more

 


 
Featured story
 

AP: Google collects location data when 'Location History' is turned off

 

Aug 14, 2018 by Greg Sterling

Google says it tells users exactly what it's doing. It does, though some of the information is buried.

 
From Marketing Land
 
Link-building tools you may not know about
  Aug 14, 2018 by Julie Joyce

Contributor Julie Joyce breaks down the nuts and bolts of four unique link-building tools and shares how each can help analyze web pages and assist in your linking efforts.

 
Unlocking the full potential of transactional emails
  Aug 14, 2018 by Len Shneyder

Columnist Len Schneyder advises marketers how to get the most out of their transactional emails without stepping over the line.

 
7 ways digital marketers use what happens on calls to optimize ROI
  Aug 14, 2018 by Digital Marketing Depot

The customer journey is calling. When consumers search for products and services, engage with digital ads or visit a business's website on their smartphones, they often convert in the most convenient and natural way: by calling.

 
Aivon launches blockchain-based protocol for 'first decentralized video search engine'
  Aug 14, 2018 by Barry Levine

The Singapore-based organization is launching a non-profit community composed of token-incentivized humans who validate AI-generated metadata.

 
Blippar launches indoor visual positioning system to anchor AR
  Aug 14, 2018 by Barry Levine

Employing machine vision to recognize mapped objects, the company says it can determine which way a user is looking and can calculate positioning down to a centimeter.

Recent Headlines From MarTech Today, Our Sister Site Dedicated To Marketing Technology
 
Digitas report: Brand loyalty is at risk with voice-based purchases
  Aug 14, 2018 by Barry Levine

The problem, says the marketing agency, is that most users will buy the first option presented by a voice agent.

 
How to make interactive video creative work for your brand
  Aug 14, 2018 by Chuck Moran

Contributor Chuck Moran argues that the time for dismissing interactive video advertising has passed. Here's how to craft creative that maximizes the opportunity.


 

For more marketing news from around the web, check out the full Marketing Day article on our site.


 

SMX East returns to NYC, better than ever: October 24-25, 2018

Search Engine Land's SMX East is coming to the Big Apple October 24-25. You'll get two laser-focused days of the SEO and SEM topics that matter most to you. Join us for actionable tactics, exceptional networking, top notch amenities, and demos from market-defining vendors. View rates and register today!

 

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Hillicon Valley: Omarosa drops bombshell claim about Trump, WikiLeaks | Dems turn up heat over fake FCC cyberattack | Uber hires ex-NSA official to improve security | FBI boosts cyber team

 
 
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The Hill Technology
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Welcome to Hillicon Valley, The Hill's newsletter detailing all you need to know about the tech and cyber news from Capitol Hill to Silicon Valley.

Welcome! Follow the cyber team, Morgan Chalfant (@mchalfant16) and Olivia Beavers (@olivia_beavers), and the tech team, Harper Neidig (@hneidig) and Ali Breland (@alibreland).

 

OMAROSA MAKES BOMBSHELL CLAIM ABOUT TRUMP, WIKILEAKS: Former White House aide Omarosa Manigault Newman claimed Tuesday that President Trump knew about the hacked Democratic emails obtained by WikiLeaks before they were released during the height of the 2016 election campaign.

She made the allegation during an interview that aired on MSNBC Tuesday afternoon, saying that Trump "absolutely" knew about the emails before they were released by WikiLeaks. She also said campaign officials were instructed to bring up the emails at every point they could during the end of the campaign.

U.S. officials have linked the hacked emails to a broader plot by Russia to interfere in the election.

When asked by the reporter whether she was implying Trump had a back channel to WikiLeaks, Omarosa replied, "I didn't say that, you did."

"I will say that I am going to expose the corruption that went on in the campaign and in the White House," Manigault Newman added.

WikiLeaks released troves of emails stolen from Democratic National Committee (DNC) servers and the personal inbox of John Podesta, then Hillary Clinton's campaign chairman, in the run-up to the 2016 presidential election.

Why this is important: There has been broad speculation about whether individuals in Trump's orbit knew about the emails before they were released by WikiLeaks. Roger Stone, a longtime adviser to Trump who briefly worked on the campaign, has attracted scrutiny for his links to WikiLeaks -- including, apparently, from special counsel Robert Mueller.

Don't forget ... Manigault Newman has been making the rounds in the media promoting her new book, "Unhinged: An Insider's Account of the Trump White House," which characterizes Trump as unfit for the presidency.

Read more here.

 

NDA = NON DISCLOSURE ARGUMENTS: Manigault Newman has not only triggered President Trump's temper, but she has also ignited a debate over Non-Disclosure Agreements (NDAs).

Manigault secretly recorded a series of conversations she had with top administration officials, prompting the Trump campaign to file an arbitration claim against Manigault. The campaign alleges that she breached her "2016 confidentiality agreement with the Trump Campaign."

The White House argued this is the status quo on Tuesday.

"I can tell you that it's common in a lot of places for employees to sign NDAs, including in government, particularly anyone with a security clearance," White House press secretary Sarah Huckabee Sanders said during the press briefing.

But a few national security minds took issue with this claim, stating that NDAs only applied to classified, national security matters -- not former aides who are now criticizing the president.

"Incredibly dishonest answer," former CIA chief Michael Hayden tweeted.

CNN's Jim Sciutto said Sanders is being "misleading to say NDA's are common in government. Yes, for those with security clearances, but to avoid disclosing classified information, NOT to bar disparaging the administration."

Others also agreed.

"For. Classified. Information. Only." tweeted Bradley Moss, a national security lawyer.

More Omarosa? Okay, maybe not tech or cyber related but here's more from a day when Omarosa Manigault Newman dominated talk in Washington.

Click here for five startling claims she's made. She also released a recording that appears to show Trump staffers discussing an alleged tape of Trump using the N-word. Trump fired back at her on Twitter, calling Manigault Newman a "dog." The White House later weighed in, noting that Trump has denied using the racial slur but with press secretary Sarah Huckabee Sanders refusing to rule out that such a tape exists.

 

HOUSE DEMS TURN UP THE HEAT ON PAI FOLLOWING CYBERATTACK CLAIMS: In a possible preview of things to come, a group of House Democrats sent a letter to FCC Chairman Ajit Pai today demanding answers about when he found out that the agency's claims of being the victim of a cyberattack last year turned out to be false.

The revelation came in an inspector general report released last week, which said that the FCC falsely claimed that its comment filing site crashed as the result of a distributed denial of service (DDoS) attack, when in fact the deluge of comments that brought the system down was likely prompted by a pro-net neutrality segment on late-night comedian John Oliver's HBO show.

"Given the significant media, public, and Congressional attention this alleged cyberattack received for over a year, it is hard to believe that the release of the IG's Report was the first time that you and your staff realized that no cyberattack occurred," four House Democrats wrote in a letter to Pai.

"Such ignorance would signify a dereliction of your duty as the head of the FCC, particularly due to the severity of the allegations and the blatant lack of evidence," it continues. "Therefore, we want to know when you and your staff first learned that the information the Commission shared about the alleged cyberattack was false."

Pai's spokeswoman did not respond when asked for comment, but we can expect the chairman to be grilled about it on Thursday when he heads before the Senate Commerce Committee for an oversight hearing.

Read more here.

 

UBER HIRES FORMER NSA OFFICIAL TO CLEAN UP CYBERSECURITY: Uber announced Tuesday that it has named Matt Olsen, a former National Counterterrorism Center director and National Security Agency (NSA) general counsel, as its new chief security officer.

Olsen, who served as the counterterrorism head under President Obama until 2014, will replace Joe Sullivan as the ride-hailing company's top security official.

Sullivan was fired by Uber CEO Dara Khosrowshahi over his handling of a massive cyber breach last year that happened during former CEO Travis Kalanick's tenure.

Uber's security reputation took a major hit from the breach, in which personal data from 57 million user accounts was stolen. Under Sullivan, the company paid $100,000 to silence the hackers, which the company was pilloried for in the public after the payment leaked.

Now Olsen will be tasked with helping repair that reputation as a part of Khosrowshahi's broader mission to help improve the company's public image.

"I look forward to moving Uber's security organization beyond traditional corporate security to a model of mission security--the safety and security of customers and their data," Olsen said in a statement to The Hill.

Olsen noted that that one of his top priorities going into the job is "aligning Uber's security strategy with the broader goals of Uber's leadership for the company." Read more here.

 

FBI BOOSTS CYBER LEADERSHIP: FBI Director Christopher Wray on Tuesday announced a series of key cybersecurity appointments to round out the bureau's leadership team.

Wray tapped Amy Hess to serve as the FBI's executive assistant director of the Criminal, Cyber, Response and Services Branch. Hess has a long history with the investigative agency, joining the Kansas City Field Office as a special agent in 1991, where she investigated "investigated violent crimes, gangs, and drug trafficking organizations," according to the FBI news release announcing the appointments.

The FBI also announced that Matt Gorham will head up the bureau's Cyber Division as assistant director. Gorham has decades of experience at the bureau, where he focused on violations related to "violent crime and drug investigations before focusing on counterterrorism matters." He will be moving from the Counterterrorism Division at the Washington, D.C., Field Office for his new role.

During the course of his career, Gorham served as the director of the National Cyber Joint Investigative Task Force, a cyber center within the FBI's Cyber Division that "coordinates, integrates, and shares cyber threat information" across multiple agencies in an effort to combat cyber threats.

The bureau also tapped Michael Gavin to serve as the assistant director of the FBI's IT Applications and Data Division and Marlin Ritzman the assistant director of the Information Management Division.

Read more here.

 

ALPHABET INVESTS IN KUSHNER BROTHER'S HEALTHCARE STARTUP: Google's parent company, Alphabet, is investing $375 million in Oscar Health, a startup health insurance company seeking to redefine the industry by using technology and data.

The infusion of funding from the parent of a major technology giant is a vote of confidence in Oscar Health, which has been closely watched for how well it will be able to shake up the health insurance industry.

"It's fantastic for us because it will really allow us to focus fully on the core model we've been building for the past 6 years, which is: use technology, use data, use design, use a human approach to build a very different health care experience," Oscar Health CEO Mario Schlosser told Wired. "And that's what this allows us to do."

Oscar offers health coverage through ObamaCare in six states and seeks to make the system smarter through innovations like having a "concierge" team, including a nurse, that helps enrollees with tasks like finding the right doctor.

Adding a note of political intrigue, the co-founder of Oscar Health is Josh Kushner, the brother of President Trump's son-in-law and adviser Jared Kushner.

Read more here.

 

APPLE REALLY, REALLY DOESN'T LIKE TAXES: Apple argued that buildings it owned around Cupertino, Calif., where it is headquartered, were only worth $200 instead of the $1 billion tax assessors deemed in 2015, according to appeals reviewed by the San Francisco Chronicle.

The report characterized the dispute as part of an aggressive strategy by Apple to lower its tax bills. According to the Chronicle, Apple has 489 open appeals in tax disputes over property assessed at $8.5 billion in Santa Clara County, Calif., dating back to 2004.

Those appeals include the $1 billion building assessed by tax officials, as well as another $384 million property that Apple also claims is worth $200.

Apple is now valued at $1 trillion. It is also the county's biggest taxpayer, paying $56 million in the 2017–2018 tax year.

Apple's aggressive strategy to lower its property tax bill parallels its broader approach to other taxes.

Read more here.

 

BILL ALERT: President Trump officially signed the NIST Small Business Cybersecurity Act into law on Tuesday, according to the White House. The legislation requires the National Institute of Standards and Technology -- a non-regulatory lab at the Commerce Department -- to develop and disseminate cybersecurity resources for small businesses to help secure their networks against digital threats.

 

ELECTRIC SCOOTERS' PLAY FIGHT SONGS IN SANTA MONICA: "Lime raised the electric scooter brobilizing stakes in Santa Monica by offering $5 credits to customers who rallied outside City Hall. Bird raised them by shutting off all the scooters so customers would know what it feels like if they "woke up one day and Bird was gone," per BuzzFeed's Caroline O'Donovan.

(OK, we'll explain: the two scooter startups are protesting efforts to shut them down in Santa Monica, Calif.)

 

A FEW OP-EDS TO CHEW ON:

Why companies shouldn't wait for regulation to step up their privacy practices.

To win the AI race, we need more humans.

 

A LIGHTER TWITTER CLICK: 

When you realize there's been a vulnerability embedded in the system all along.

 

TIP OF THE DAY: 

FINALLY, a good reason not to get a Fake ID ... in addition to it being illegal.

 

ON TAP:

The House is still in recess, but the Senate is back in on Wednesday.

 

NOTABLE LINKS FROM AROUND THE WEB:

Why Americans don't want to live in "smart" cities. (Smartcities Dive)

How banks watch your every move online. (The New York Times)

Hacked water heaters could cause blackouts? These researchers say so. (Wired)

Tinder Lawsuit? *Super Like* (CNN Money)

The unlikely activists who took on Silicon Valley -- and won. (The New York Times Magazine)

Password analyst says QAnon's codes are consistent with random typing. (Motherboard)

 
 
 
 
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