The 25 best-paid hedge fund honchos on Wall Street pocketed $13 billion in 2015, a sum that exceeds the gross domestic products of many nations, says a just-published annual survey by Institutional Investor’s Alpha magazine. What’s interesting is that this year’s big winners are more reliant than ever on algorithms to make their money and the…
POSYDON, the GPS equivalent for underwater vessels, is set for sea trials by 2018. It is being developed by the Draper group. Although the Global Positioning System (GPS) is incredibly useful for us landlubbers and surface going ships, however since it can’t penetrate the seawater, it’s pretty much useless for submarines or UUVs. In order…
A spokesperson for Xbox has confirmed the backward compatibility for multiple discs on Xbox One. Gamers will rejoice at the news that Xbox has now rolled support for backward compatibility games that span multiple discs, such as Grand Theft Auto 5 and Deus Ex: Human Revolution Director’s Cut. This means that players can now look…
Due to a glitch in NYPD’s training, it collected $1.7 million in parking tickets from citizens who were in fact following the law. The NYPD has now corrected this systemic flaw. Open data policies are not just merely a convenience, they can be a very useful tool to detect systemic structural issues in governance. Case…
This is still unconfirmed since the engineers have listed their employer in their LinkedIn profiles as Apple. Apple has had a hard time holding on to the original members of its Siri team. A precious few of its core founders are still hanging on. Unfortunately, one more bird has left the nest: Darren Haas, one…
Nikola Motors offers 2,000HP hybrid truck for $1,500, final retail price $375,000. Nikola Motor Company, a new entrant to the electric vehicle industry, is unabashedly riding in the wake of Tesla Motors. Although the source of inspiration of the company’s name may be one – Nicolas Tesla, both companies have taken different routes in the…
Not just wealthy people but anyone would be able to invest in startups thanks to the new crowdfunding rules taking effect Monday in the US. Earlier investors backing private companies needed to be “accredited,” meaning they make at least $200,000 a year and have a net worth of $1 million or more (excluding their home). The change overrides…
Following warnings by European steelmakers that dumping was likely to increase, the European Commission has launched an inquiry into Chinese subsidies for steel sold to the EU. Chinese producers benefit from government subsidies such as preferential lending rates and low energy charges claims the submission from the European Steel Association which also forms the basis…
In what the Los Angeles company developing the technology said was the first successful test of a futurist transit system called hyperloop, a car-sized sled powered by electromagnets rocketed to more than 100 miles (160 kph) an hour through the Nevada desert. Elon Musk, the founder of rocket maker SpaceX and electric car company Tesla…
Drawing a line under the UK financial watchdog’s eight-and-a-half year insider dealing inquiry, a former Deutsche Bank managing director and an accountant have been sent to prison for “persistent, prolonged, deliberate, dishonest behavior”. For his part in an elaborate scam that prosecutors said made more than £6.9m between 2006 and 2010, Martyn Dodgson was sentenced…
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