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Could Selling Data Spell Legal Trouble on Wall Street?

Close The investment landscape is changing rapidly and asset managers are finding themselves in an arms race for new forms of alternative data. Everything from mobile phone location data to internet of things (IoT) data about crop yields, are being scraped, sanitized, packaged and sold on to investment managers looking …

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75 Percent of Americans Think Rich Should Be Taxed More

Close A large majority of Americans think the wealthiest should pay more taxes, a new poll shows, just as President Donald Trump is pushing a plan that would eliminate some taxes for the rich. More than half—52 percent—of the 1,504 adults in the Reuters/Ipsos poll taken September 29 to October …

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Bitcoin or Broke: Man Gambles House on Cryptocurrency

Close A Dutch man is betting everything he owns on bitcoin, selling his house and other possessions and moving to a campsite as he awaits a hoped-for boom in the value of cryptocurrency that will make him rich. Didi Taihuttu, a 39-year-old father of three from the Netherlands, sold his …

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Winter Forecast: Households Will Pay More For Heat

Close Millions of Americans will suffer double-digit increases in home heating costs this winter, thanks mostly to a perfect storm of colder weather and higher energy costs, a new report shows. The main problem is the cold — with temps that are predicted to drop an average of 13 percent …

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Uber Faced $1 Billion in Damages in Waymo Lawsuit

Close Alphabet’s Waymo sought at least $1 billion in damages and a public apology from Uber as conditions for settling its high-profile trade secret lawsuit against the ride-services company, sources familiar with the proposal told Reuters. The Waymo self-driving car unit also asked that an independent monitor be appointed to …

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Can Machine Learning Be Applied To Trading?

Close A new academic paper, Machine Learning for Trading, is the first conclusive study that shows success in having a machine learning-based trading strategy. The author, Gordon Ritter, Adjunct Professor in the Mathematics in Finance Program, New York University, constructed an artificial system which he knew would admit a profitable …

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Facebook’s Mind-Reading Chief Quits Project

An illustration of a brain-computer interface at Facebook’s F8 conference, April 19, 2017.Facebook/ Screengrab The head of Facebook’s secretive brain-computer interface division has announced she will be leaving the controversial project to pursue a “new endeavor.” Regina Dugan, the former director of Defense Advanced Research Projects Agency (DARPA), joined Facebook …

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Time for the Trump Family to Collect Its Hidden Money?

Close President Donald Trump’s self-described efforts to do something good for the country have reportedly been bad for business—his own, that is. Since a year ago, Trump has tumbled to No. 248 in the Forbes rankings of the richest people in America, down from No. 156. His estimated net worth …

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Ivanka Trump Leaves Family Foundation Off Disclosures

Close Maybe it just slipped her mind. Ivanka Trump’s federal financial disclosure report doesn’t mention her past involvement with the charitable foundation that bears her family’s name—and which remains under investigation for self-dealing. President Donald Trump’s daughter is working as an advisor to him in Washington while her two adult …

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Trump’s Sons Putting Luxury Hotels in Impoverished Area

Close The Trump Organization is putting two new luxury hotels in one of the poorest regions of America: the Mississippi Delta. The company, run by President Trump’s sons Donald Jr. and Eric, will be venturing into an area that most other hotel companies have ignored—one that happens to be in …

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