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  • Investors Value Yahoo's Core Business At Less Than $0

    An anonymous reader writes "Yahoo is most known for its search, email, and news services. But its U.S. web presence is only part of its corporate portfolio. It also owns large stakes in Yahoo Japan and Alibaba (a web services company based in China). Yahoo Japan is publicly traded, and Alibaba is heading toward an IPO, so both have a pretty firm valuation. The thing is: when you account for Yahoo's share of each and subtract them from Yahoo's current market cap, you get a negative number. Investors actually value Yahoo's core business at less than nothing. Bloomberg's Matt Levine explains: 'I guess this is fairly obvious, but it leads you to a general theory of the conglomerate discount, which is that a business can be worth less than zero (to shareholders), but a company can't be (to shareholders). ... A fun question is, as fiduciaries for shareholders, should Yahoo's directors split into three separate companies to maximize value? If YJHI and YAHI are worth around $9 billion and $40 billion, and Core Yahoo Inc. is worth around, I don't know, one penny, then just doing some corporate restructuring should create $13 billion in free shareholder value. Why not do that?'"

    149 comments | 2 days ago

  • Pollution In China Could Be Driving Freak Weather In US

    Hugh Pickens DOT Com (2995471) writes "Jonathan Kaiman reports at The Guardian that China's air pollution could be intensifying storms over the Pacific Ocean and altering weather patterns in North America leading to more ... warm air in the mid-Pacific moving towards the north pole. 'Mid-latitude storms develop off Asia and they track across the Pacific, coming in to the west coast of the U.S.,' says Ellie Highwood, a climate physicist at the University of Reading. 'The particles in this model are affecting how strong those storms are, how dense the clouds are, and how much rainfall comes out of those storms.' Fossil fuel burning and petrochemical processing in Asia's rapidly developing economies lead to a build-up of aerosols, fine particles suspended in the air. Typically, aerosol formation is thought of as the antithesis to global warming: it cools our Earth's climate. But researchers say, too much of any one thing is never good. 'Aerosols provide seeds for cloud formation. If you provide too many seeds, then you fundamentally change cloud patterns and storm patterns,' says co-author Renyi Zhang. China's leaders are aware of the extent of the problem and will soon revise China's environmental protection law for the first time since 1989 ... 'The provisions on transparency are probably the most positive step forward,' says Alex Wang, expert in Chinese environmental law at UCLA. 'These include the requirement that key polluters disclose real-time pollution data.'"

    156 comments | 4 days ago

  • Chinese Man On Trial For Spreading False Rumors Online

    hackingbear writes: "Qin Zhihui, a user of the Chinese Twitter-like website Weibo, has confessed in court to spreading false rumors about the Chinese government in the first public trial under a Chinese crackdown on online rumors. China has threatened criminal penalties against anyone who spreads rumors on microblogs that are reposted more than 500 times, or seen by more than 5,000 users. Qin invented a story that the government gave 200m yuan (US$32m) in compensation to the family of a foreign passenger killed in a high-speed train crash in 2011 in order to incite hatred to the government which gave much lower compensation to Chinese nationals. The Chinese government did have policies in the past to give more compensations to foreigners than locals in disasters, though those policies have been phased out in recent years. Online rumours are particularly pervasive in China, where traditional media is heavily regulated by the government and public trust in the media is low."

    53 comments | about two weeks ago

  • China Approves Microsoft-Nokia Deal, Gets Patent Concessions In Return

    itwbennett writes: "On Tuesday, China's Ministry of Commerce gave conditional regulatory approval to Microsoft's purchase of Nokia's Devices & Services business. The $7.2 billion deal means that Microsoft could very soon produce its own smartphones using the Windows Phone operating system. In return, China is requiring Microsoft and Nokia to make promises on fair patent use, fearing that the proposed acquisition between the two companies could spell trouble for the nation's Android device makers."

    26 comments | about two weeks ago

  • Slashdot Asks: Will You Need the Windows XP Black Market?

    NicknamesAreStupid (1040118) writes "As Whoever57 pointed out, there are some who will still get support for Microsoft Windows XP — the 'haves'. However, most will be the 'have nots.' Anytime you have such market imbalance, there is opportunity. Since Microsoft clearly intends to create a disparity, there will certainly be those who defy it. What will Microsoft do to prevent bootleg patches of XP from being sold to the unwashed masses? How will they stop China from supporting 100 million bootleg XP users? And how easily will it be to crack Microsoft's controls? How big will the Windows XP patch market be?" There are a lot of businesses still on Windows XP; if you work for one of them, will the official end of life spur actually cause you to upgrade? (And if so, to what?)

    245 comments | about two weeks ago

  • Scientist Quits Effort To Live-Blog Stem Cell Generation

    According to reader sciencehabit (1205606), Kenneth Ka-Ho Lee, the embryologist who has been live-blogging his attempt to reproduce a new kind of stem cells, has given up, writing on this Research Gate page, "I don't think STAP cells exist and it will be a waste of manpower and research funding to carry on with this experiment any further." From the linked article: "Though he is giving up, he hopes others will continue to investigate whether the new approach – which has dogged by controversy and claims of research misconduct — can really lead to stem cells."

    17 comments | about two weeks ago

  • Most Expensive Aviation Search: $53 Million To Find Flight MH370

    mdsolar (1045926) writes "The search and investigation into missing Malaysia Airlines flight MH370 is already the most expensive in aviation history, figures released to Fairfax Media suggest. The snippets of costings provide only a small snapshot but the $US50 million ($54 million) spent on the two-year probe into Air France Flight 447 — the previous record — appears to have been easily surpassed after just four weeks.... The biggest expense in the search has involved ships, satellites, planes and submarines deployed first in the South China Sea and the Malacca Straits, and then in the remote reaches of the southern Indian Ocean."

    233 comments | about two weeks ago

  • China Cracks Down On Bitcoin, Cuts Off Exchanges' Bank Access

    jfruh (300774) writes "Bitcoin has made many governments and regulators uncomfortable, and the Chinese government is responding to the challenge it poses with its usual lack of subtlety. Two Chinese bitcoin exchanges have found themselves cut off from the money economy, as Chinese banks, under pressure from the government, refuse to do business with them."

    100 comments | about two weeks ago

  • China Prosecuted Internet Policeman In Paid Deletion Cases

    hackingbear writes: "In China, censorship is not just about politics; it's also a vibrant business. Police in Beijing have detained at least ten people, including employees at web giant Baidu and a web censor working at the Beijing Municipal Public Security Bureau (cached version), over allegations that they deleted defamatory online posts about companies and government enterprises in return for money, the Beijing News reports. The case was first surfaced when Baidu noticed and reported several of its workers' illegal activities. From 2010 to 2012, Gu, an ex-Baidu employee, is believed to have deleted over 2,000 posts on Baidu, 500 on news site Sohu and 20 posts on qianlong.com, with over 2 million yuan ($322,000) reportedly changing hands. While Gu can delete negative Internet posts for topics ranging from environmental issues to product quality problems on behalf of companies, he could not delete posts relating to his government clients. So he paid and asked Liu, a Beijing Municipal Public Security Bureau web censor, to issue official orders to the web sites to remove the posts (Google translation of Chinese original). Liu was found to have accepted 770,000 yuan ($124,000) from Gu for deleting posts. He also received 150,000 yuan ($24,000) from other sources."

    26 comments | about three weeks ago

  • U.S. Court: Chinese Search Engine's Censorship Is 'Free Speech'

    jfruh writes: "You will probably not be surprised to learn that Chinese search giant Baidu censors a wide range of content, particularly political material deemed to be pro-democracy — and does so for users everywhere, not just in China. A group of activists filed suit against Baidu in New York for violating free speech laws, but the judge in the case declared (PDF) that, as a private entity in the United States, Baidu has the right to provide whatever kind of search results it wants, even for political reasons."

    284 comments | about three weeks ago

  • China Arrests 1,500 People For Sending Spam Messages From Fake Mobile Bases

    concertina226 (2447056) writes "Chinese authorities have detained a total of 1,530 suspects in a crackdown on spam SMS text messages being sent out by illegal telecoms equipment, according to Chinese news agency ECNS. Over 2,600 fake mobile base stations were seized and 24 sites manufacturing illegal telecoms equipment shut down as part of a massive nationwide operation involving nine central government and Communist Party of China departments. A report released by Trend Micro this month looked into the telecoms equipment black market in China (PDF) and found that cybercriminals routinely use either a GSM modem, an internet short message gateway and an SMS server to send out spam messages. On the underground market, SMS servers come in 'all-in-one' packages that include a laptop, a GSM mobile phone, an SMS server, an antenna to send out the fake signal and a USB cable, all for RMB 45,000 (£4,355)."

    35 comments | about three weeks ago

  • North Korea: Male University Students Required To Get Kim Jong-un Haircuts

    An anonymous reader writes in with one more reason not to accept that full-ride scholarship to a North Korea University. "Male university students in North Korea are now required to get the same haircut as their leader Kim Jong-un, it is reported. The state-sanctioned guideline was introduced in the capital Pyongyang about two weeks ago, Radio Free Asia reports. It is now being rolled out across the country - although some people have expressed reservations about getting the look. 'Our leader's haircut is very particular, if you will,' one source tells Radio Free Asia. 'It doesn't always go with everyone since everyone has different face and head shapes.' Meanwhile, a North Korean now living in China says the look is actually unpopular at home because people think it resembles Chinese smugglers. 'Until the mid-2000s, we called it the "Chinese smuggler haircut",' the Korea Times reports."

    110 comments | about three weeks ago

  • NSA Hacked Huawei, Stole Source Code

    Charliemopps (1157495) writes "New documents from Snowden indicate that the NSA hacked into and stole documents, including source code, from the Chinese networking firm Huawei. Ironically, this is the same firm that the U.S. government has argued in the past was a threat due to China's possible use of the same sort of attacks."

    287 comments | about a month ago

  • Back To the Moon — In Four Years

    braindrainbahrain writes "Gene Grush, a former division chief at NASA Johnson, has written a series of articles on how the U.S. can return to the Moon in four years. He says not only can we land there, but we can actually build a base on the Moon as well. How is this feasible? A public/private partnership between NASA and a private space company. Quoting: 'The biggest obstacle is the lack of a rocket, called a super heavy launch vehicle, to lift it off the planet. NASA is working on one, called the Space Launch System, but the agency is constrained by its budget and the likelihood of it flying in that time frame is slim. But there’s an interim solution: SpaceX’s Falcon Heavy, which will have its maiden flight this year and can supposedly launch up to 53 metric tons into orbit.'

    '[I]f NASA makes lowering launch costs its highest priority, escaping the bonds that hold us to Earth will be financially feasible. We don’t do this by controlling the design so much as the frequency -- we are the customer, after all.' 'The development of a lunar base could be a catalyst for lowering our launch cost to space and accelerating the development of automation and robotics. ... If America doesn’t step up to the plate, China’s ambitions for the moon may establish it as the “go-to” nation for space exploration. Many nations of the world privately say they want the moon to be the next step in space exploration -- but they can’t get there on their own. They need a technically savvy and resourceful country to lead.'"

    292 comments | about a month ago

  • China Using Drones To Spot Polluters

    An anonymous reader writes "China is reportedly now using 4 drones to spy on polluting industries, according to The Guardian. The unmanned aircraft can cover 70 sqkm during a two hour flight. According to the state-run China Daily newspaper the drones have helped the ministry 'resolve' over 200 environment-linked cases. The Ministry of Environmental Protection claims that it can tell the type of smokestacks to crack down upon from the color of the smoke."

    35 comments | about 1 month ago

  • $30K Worth of Multimeters Must Be Destroyed Because They're Yellow

    An anonymous reader points out a post at the blog of Sparkfun, a hobbyist electronics retailer. They recently received a letter from U.S. Customs saying a shipment of 2,000 multimeters was being barred from entry into the country. The reason? Trademark law. A company named Fluke holds a trademark on multimeters that have a 'contrasting yellow border.' Sparkfun's multimeters are a yellowish orange, but it was enough for Customs to stop the shipment. Returning the shipment is not an option because of import taxes in China, so the multimeters must now be destroyed. At $15 per item, it'll cost Sparkfun $30,000, plus the $150/hr fee for destroying them. Sparkfun had no idea about the trademark, and doesn't mind changing the color, but they say restrictions like these are a flaw in the trademark system. "Small business does not have the resources to stay abreast of all trademarks for all the products they don't carry. If you’re going to put the onus on the little guy to avoid infringing IP then you shouldn't need an army of consultants or attorneys to find this information."

    653 comments | about a month ago

  • OKCoin Raises $10 Million To Become China's Largest Bitcoin Exchange

    edibobb writes "Despite recent cryptocurrency crackdowns by the Chinese government, OKCoin announced a round of $10 million funding by three prominent venture capital firms and other investors. OKCoin is supposed to be the largest bitcoin exchange in China. From the article: 'Back in November 2013, the focus of the bitcoin community was on China – the world’s hub for bitcoin trading. At that time, BTC China was the biggest exchange in the world, having managed to raise a $5m Series A funding round from Lightspeed Venture Partners (Snapchat, Nest). There were even rumours that a bigger round was in the works for the young company. However, things change quickly. After the Chinese government began regulating bitcoin in December, trade volume plummeted and the world’s top exchange was no longer Chinese.'"

    48 comments | about a month ago

  • The Poor Neglected Gifted Child

    theodp writes "'Korea, Taiwan, and Singapore,' explains The Boston Globe's Amy Crawford in The Poor Neglected Gifted Child, 'have national laws requiring that children be screened for giftedness, with top scorers funneled into special programs. China is midway through a 10-year "National Talent Development Plan" to steer bright young people into science, technology, and other in-demand fields.' It seems to be working — America's tech leaders are literally going to Washington with demands for "comprehensive immigration reform that allows for the hiring of the best and brightest". But in the U.S., Crawford laments, 'we focus on steering all extra money and attention toward kids who are struggling academically, or even just to the average student' and 'risk shortchanging the country in a different way.' The problem advocates for the gifted must address, Crawford explains, is to 'find ways for us to develop our own native talent without exacerbating inequality.' And address it we must. 'How many people can become an astrophysicist or a PhD in chemistry?' asks David Lubinski, a psychologist at Vanderbilt University. We really have to look for the best — that's what we do in the Olympics, that's what we do in music, and that's what we need to with intellectual capital."

    529 comments | about a month ago

  • Alibaba Confirms Plans To Offer IPO In US

    hackingbear writes "China e-commerce giant Alibaba Group confirmed early Sunday that it plans to become a public company in the US. The proposed US IPO, which is expected to raise more than $15 billion, is a bid winning over Hong Kong stock exchange, which had been competing for the offering with US stock exchanges but objected to some of Alibaba's proposed listing terms. Founded in 1999 by former English teacher Jack Ma, the Hangzhou, China company, of which Yahoo owns 24%, provides marketplace platforms that allow merchants to sell goods directly to consumers controlling 80% of Internet e-commerce market in China."

    93 comments | about a month ago

  • Embarrassing Stories Shed Light On US Officials' Technological Ignorance

    colinneagle writes "Speaking at the SXSW Conference recently, Dr. Peter W. Singer, director of the Center for 21st Century Security and Intelligence, recalled one U.S. official who was 'about to negotiate cybersecurity with China' asking him to explain what the term 'ISP' (Internet Service Provider) means. This wasn't the only example of this lack of awareness. 'That's like going to negotiate with the Soviets and not knowing what "ICBM" means,' Dr. Singer said. 'And I've had similar experiences with officials from the UK, China and Abu Dhabi.' Similarly, Dr. Singer recalled one account in which Janet Napolitano, the Secretary of the U.S. Homeland Security Department from 2009 to 2013, admitted that she didn't use email 'because she just didn't think it was useful.' 'A Supreme Court justice also told me "I haven't got round to email yet" — and this is someone who will get to vote on everything from net neutrality to the NSA negotiations,' Dr. Singer said."

    299 comments | about a month ago

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