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Monday, December 1, 2014

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December 01, 2014
The Media Industry Has Found A Creative Way To Avoid Backlash Over Its Low-Paid Internships The Media Industry Has Found A Creative Way To Avoid Backlash Over Its Low-Paid Internships
by Aaron Taube on Dec 1, 2014, 11:52 AM
In recent years, the media industry has been...


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4 dead following 3 shootings in West Virginia, police say

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4 dead following 3 shootings in West Virginia, police say
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STOCKS DROP, GOLD AND OIL RALLY: Here's What You Need To Know

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December 01, 2014

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Stocks started December with losses, as the tech-heavy Nasdaq paced losses with a 1.3% drop, while the price of gold and crude oil spiked dramatically higher after falling sharply into the weekend and overnight on Sunday.

First, the scoreboard:

  • Dow: 17,776.8, -51, (-0.3%)
  • S&P 500: 2,053.4, -14, (-0.7%)
  • Nasdaq: 4,727.3, -64.3, (-1.3%)

And now, the top stories on Monday:

1. We got two pieces of economic data on the US manufacturing sector on Monday, with the Institute of Supply Management's November PMI reading coming in at 58.7, topping expectations for a reading of 58.0. This was, however, below October's 59.0. Ian Shepherdson at Pantheon Macro said that report was, "Unbelievable. Literally," saying that seasonal adjustments continue to skew the index higher than it ought to be. Shepherdson believes the trend warrants a reading of around 55.0. Any reading above 50 represents expansion in the manufacturing sector.

2. Markit economics also released its latest manufacturing PMI came in at 54.8, better than November's "flash" reading of 54.7, but below expectations for a 55.0. Markit's release said that, "Business conditions continued to improve across the US manufacturing sector in November, but the pace of recovery eased to its weakest since the start of 2014."

3. Crude oil prices rallied on Monday, with West Texas Intermediate crude futures rising more than 4% to above $69 as the commodity continues to pare the losses suffered at the end of last week after OPEC announced it would not curb production. And while Monday's rally was a bit of relief to some oil investors, in a not to clients on Monday, Deutsche Bank's Jim Reid noted that both WTI and Brent crude oil have been the world's worst performing assets this year.

4. Gold prices also rallied hard on Monday, gaining more than 3% to climb back above $1,200 an ounce. Overnight the precious metal took it on the chin, falling to as low as $1,143 an ounce after voters in Switzerland rejected a measure that would have required the Swiss National Bank to hold 20% of their assets in gold. Currently, the SNB has an 8% gold position. 

5. Apple shares had a wild day, with the stock suffering something like a "flash crash" after the market open on Monday, falling as much as 6% before stabilizing down about 3%. 

6. Amazon got some bad news from Moody's rating agency today, as Moody's took its outlook for the online retailer to "Negative" from "Stable" after Amazon disclosed plans on Monday to issue senior unsecured notes. Moody's noted that Amazon's debt will be used for general corporate purposes, and added that, "it is Moody's expectation that the funds will not be utilized for any form of shareholder returns." Amazon shares fell more than 3% on Monday. 

7. Also in the tech space, ride-sharing service Uber is reportedly raising money from Goldman Sachs' high-net-worth clients, according to Fortune's Dan Primack

Don't Miss: Blaming The Crash In Oil Prices On Shale Leaves One Question Unanswered »

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World's 'Worst' Nazi Is Dead (Newser Happy Hour 6-pack)

Newser Alert
The day's six most popular stories, in time to unwind.


World's 'Worst' Nazi Is Dead

World's 'Worst' Nazi Is Dead

(Newser) - The world's most-wanted Nazi is dead, and he died without regrets about his role in the murder of thousands of Jews. That's according to Nazi hunter Efraim Zuroff, who says a German secret service agent recently revealed that Alois Brunner, Adolf Eichmann's "best man," died... More  »

 
Cop Detains Black Man for Walking With Hands in Pockets

Cop Detains Black Man for Walking With Hands in Pockets

(Newser) - Brandon McKean could scarcely believe the reason a Pontiac, Mich., police officer gave for detaining and questioning him on Thanksgiving afternoon: walking with his hands in his pockets on a freezing day. "There's 10,000 people in Pontiac right now with their hands in their pockets," the... More  »

 
St. Louis Cops Fume Over Rams' Ferguson Protest

St. Louis Cops Fume Over Rams' Ferguson Protest

(Newser) - At yesterday's game, five players for the St. Louis Rams took to the field with their hands up, showing solidarity with protesters against the shooting of Michael Brown . "We wanted to come out and show our respect to the protests and the people who have been doing a... More  »

 
Bizarre Details Surface in Boy-Behind-Wall Case

Bizarre Details Surface in Boy-Behind-Wall Case

(Newser) - While investigators try to untangle the strange case of a 13-year-old boy found hidden behind a fake wall in a Georgia home, the people accused of hiding him aren't going anywhere: Gregory Jean, the boy's father, and his partner, Samantha Joy Davis, have been charged with false imprisonment... More  »

 
Iraq Army Finds 50K 'Ghost Soldiers'

Iraq Army Finds 50K 'Ghost Soldiers'

(Newser) - Investigators in Iraq have uncovered one of the reasons some military units seemed to melt away in the face of ISIS advances earlier this year: Many of their soldiers didn't exist. Prime Minister Haider al-Abadi told lawmakers yesterday that 50,000 fake names were uncovered on military payrolls when... More  »

 
Man Reveals He's Spider-Man in Poignant Obit

Man Reveals He's Spider-Man in Poignant Obit

(Newser) - A Minneapolis art director died of brain cancer last week, but in an obituary in the Minneapolis Star Tribune , "mild-mannered" Aaron Purmort reveals himself to be Spider-Man, writing that he "died peacefully at home on November 25 after complications from a radioactive spider bite that led to years... More  »

 

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Google's Chromebook Is Killing The iPad In One Key Market

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Business Insider Select
 
December 01, 2014
Google's Chromebook Is Killing The iPad In One Key Market Google's Chromebook Is Killing The iPad In One Key Market

Google has passed Apple for the first time in the US education market...
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An Oil Slide Is the Last Thing Brazil Needs
An Oil Slide Is the Last Thing Brazil Needs
Petrobras, Brazil's massive quasi-state oil company, was already a...  Read»
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Dramatic Video Shows A Skydiver Spinning Out Of Control At 13,000 Feet
Dramatic Video Shows A Skydiver Spinning Out Of Control At 13,000 Feet
VIDEO: A dramatic video has emerged capturing the moment a skydiving student spun out of control during a jump.  Read»
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Here's Video Of That Boxing Match Actor Mickey Rourke Won In Russia — Reports Say His 'Homeless' Opponent Took A Dive
Here's Video Of That Boxing Match Actor Mickey Rourke Won In Russia — Reports Say His 'Homeless' Opponent Took A Dive
VIDEO: Hollywood actor Mickey Rourke returned to the boxing ring Friday at the age of 62, defeating a fighter less than half his age in an exhibition in Moscow, Russia.  Read»
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Insiders Reveal The Hottest New York Restaurants For 2015
New York's restaurant scene is constantly changing: Even the most...  Read»
This Ad For Ikea's New Standing Desk Makes Work Look So Easy
VIDEO: Ikea has created a new desk that changes from sitting to standing with the touch of a button.  Read»
Here's The Real Reason Uber Is Having A Tough Time In Germany
Uber's challenges in Germany have been well documented, but the startup...  Read»
Advertisement
19-Year-Old 'Greek Freak' Is Doing Things That Should Terrify The Rest Of The NBA
19-Year-Old 'Greek Freak' Is Doing Things That Should Terrify The Rest Of The NBA
Only a handful of other NBA players have as much potential as Giannis...  Read»
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The Media Industry Has Found A Creative Way To Avoid Backlash Over Its Low-Paid Internships
The Media Industry Has Found A Creative Way To Avoid Backlash Over Its Low-Paid Internships
In recent years, the media industry has been attacked over...  Read»
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Here's What Happens When You Spend Too Much Free Time Responding To Work Emails
Here's What Happens When You Spend Too Much Free Time Responding To Work Emails
It's no surprise that employees get stressed handling work-related...  Read»
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Why Legal Professionals Want Law School To Stay 3 Years
Why Legal Professionals Want Law School To Stay 3 Years
In a survey of 371 legal professionals conducted by Business Insider...  Read»
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See Also
Mark Cuban Explains The Real Reason He Joined The 'Shark Tank' Cast
Mark Cuban Explains The Real Reason He Joined The 'Shark Tank' Cast
Mark Cuban has an estimated net worth of around $2.7 billion and is the...
  Read»  
The 10 Cheapest Public Colleges In America
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For many students, the cost of tuition and fees is the biggest obstacle...
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Large Companies Stand To Gain The Most From The Massive 'Internet of Things,' Tech's New Growth Market
Large Companies Stand To Gain The Most From The Massive 'Internet of Things,' Tech's New Growth Market
Most business spending on the IoT will go toward software and services.
  Read»  
Egypt's Autocratic Ex-President Is Now A Free Man — And The Country Is In Trouble
Egypt's Autocratic Ex-President Is Now A Free Man — And The Country Is In Trouble
On Saturday, an Egyptian judge dismissed all remaining charges against...
  Read»  


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