Former WorldCom CEO Bernie Ebbers dies at 78 - Fox Business

A federal judge has ordered convicted ex-WorldCom CEO Bernie Ebbers to be released from prison early due to health concerns.

Bernie Ebbers, the disgraced former CEO of Worldcom has died at the age of 78, according to a family attorney.

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Ebbers was the brains behind one of America’s biggest accounting frauds.

He received an early release from his 25-year prison sentence in Dcember, because family members said he was suffering from dementia and was legally blind.

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Ebbers served 13 years of his sentence.

Worldcom was a veritable household name in 2001 as one of the world's largest telecommunication companies. A popular portfolio stock, Worldcom made moves to falsely inflate its earnings on its profit and loss statement by nearly $4 billion.

BERNIE EBBERS, BRAINS BEHIND HISTORIC FRAUD SCHEME, TO BE FREED FROM PRISON

Under Ebbers, the company spread out expenses in smaller amounts over several years instead of reporting them immediately to investors. As a result, in 2001, the company reported a mind-boggling $1.4 billion profit. Had the operating costs been correctly reported, Worldcom would have lost money for fiscal 2001 as well as first-quarter 2002.

Ebbers had been serving his time in a federal prison in Fort Worth, Texas.

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2020-02-03 04:44:10Z
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China to inject US$174 billion of liquidity into markets in virus boost - South China Morning Post

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1. China to inject US$174 billion of liquidity into markets in virus boost  South China Morning Post
2. China's economy to see long-term impact if coronavirus crisis continues: BOK  ARIRANG NEWS
3. China to inject $174 billion of liquidity on Monday as markets reopen  Yahoo Finance
4. Coronavirus: China to pump billions into economy amid growth fears  BBC News
5. China to inject $173 bln into economy as virus deaths top 300 | Article  Asia Times
6. View full coverage on Google News

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2020-02-02 14:54:51Z
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Report says creepy exec made life hellish for Victoria's Secret 'Angels' - Page Six

It was hell out there for those “Angels.”

Victoria’s Secret models were constantly hounded by a creepy executive who made unwanted sexual advances and even once told supermodel Bella Hadid she had “perfect titties,” according to a New York Times investigation.

The executive, Ed Razek, 71, stepped down from its parent company, L Brands, in August — but not before fostering an “entrenched culture of misogyny, bullying and harassment” at the lingerie company, the paper found.

One model, Andi Muise, told the paper Razek had harassed her for months with intimate emails, once writing her, “I need someplace sexy to take you!”

Razek would watch Hadid and other models prepare for fashion shows and remark out loud on their appearance, the report said.

The executive denied the allegations to the Times, insisting they are “categorically untrue, misconstrued or taken out of context.”

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2020-02-02 09:50:00Z
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China central bank to inject $174 billion via reverse repos on February 3 - Reuters

SHANGHAI (Reuters) - China’s central bank said it will inject 1.2 trillion yuan ($173.8 billion) worth of liquidity into the markets via reverse repo operations on Monday, as the country prepares to reopen its stock markets amid a new coronavirus outbreak.

FILE PHOTO: A woman walks out of the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing November 20, 2013. REUTERS/Jason Lee/File Photo

China’s authorities have pledged to use various monetary policy tools to ensure liquidity remains reasonably ample and to support firms affected by the virus epidemic, which has so far claimed 305 lives, all but one in China.

The People’s Bank of China made the announcement in a statement published on its website on Sunday, adding the total liquidity in the banking system will be 900 billion yuan higher than the same period in 2019 after the injection.

According to Reuters calculations based on official central bank data, 1.05 trillion yuan worth of reverse repos are set to mature on Monday, meaning that 150 billion yuan in net cash will be injected.

Investors are bracing for a volatile session in Chinese markets when onshore trades resume on Monday after a break for the Lunar New Year which was extended by the government.

China’s stock, currency and bond markets have all been closed since Jan. 23 and had been due to re-open last Friday.

There will be no further delays to the reopening, the country’s securities market regulator said in an interview published by the state-backed People’s Daily newspaper on Sunday.

The China Securities Regulatory Commission (CSRC) said it had taken the decision after balancing various factors, and believed the outbreak’s impact on the market would be “short term”.

To support firms affected by the epidemic, the CSRC said companies that had expiring stock pledge agreements could apply for extensions with securities firms, and it would urge corporate bond investors to extend the maturity dates of debt.

The CSRC is also considering launching hedging tools for the A-share market to help alleviate market panic and will suspend evening sessions of futures trading starting from Monday, it said.

“We believe that the successive introduction and implementation of policy measures will play a better role in improving market expectations and preventing irrational behavior,” it told the People’s Daily newspaper.

China is facing mounting isolation as other countries introduce travel curbs, airlines suspend flights and governments evacuate their citizens, risking worsening a slowdown in the world’s second-largest economy.

On Sunday, the Philippines reported the growing epidemic of a coronavirus has claimed its first fatality outside of China, where new confirmed infections jumped by a daily record to top 14,000 cases.

Additional reporting by Samuel Shen and Winni Zhou in Shanghai; Editing by Lincoln Feast.

Our Standards:The Thomson Reuters Trust Principles.

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2020-02-02 07:37:00Z
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The Morning After: Fox, Roku and Super Bowl LIV - Engadget

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Hey, good morning! You look fabulous.

Our long national nightmare is over. After a carriage dispute that lasted absolutely no time at all, Fox and Roku have worked out their distribution squabble, and you will be able to watch Super Bowl LIV via Fox apps on the Roku platform.

That should make it easy to watch the game in "4K" if you have the right hardware, without switching apps or plugging another set-top box in. And if you don't have the right combination of hardware or services, then no problem -- we've got some advice.

-- Richard

---

And DIY music making.The Engadget Podcast: Why Clearview AI's facial recognition is a privacy nightmare

This week, Devindra and Cherlynn dive into how ClearView works, and what unchecked access to powerful facial recognition means for the future of privacy. (It's good for cops, not so much everybody else!) Also, managing editor Terrence O'Brien joins to break down how Billie Eilish recorded a Grammy-winning album in a spare bedroom. It's yet another milestone for DIY home audio production.

Listen on Apple Podcasts, Google Play, Spotify, Pocket Casts or Stitcher.

---

Was Grimes late for a studio session?Meet SoundCloud's newest mediocre EDM artist: Elon Musk!

Sure, we said that anyone can make music in a home studio, and in the case of Billie Eilish, it can go from SoundCloud to Grammy-winning in the blink of an eye. But what we didn't expect is that the next person to follow her lead would be Tesla and SpaceX CEO Elon Musk. So how is Don't Doubt ur Vibe? It's far from the worst thing on SoundCloud/Spotify, and probably won't lead to a massive lawsuit, so there's that at least.

---

Bad PasswordPhishing scams leveled up, and we didn't

Columnist Violet Blue explains why we're all gullible enough to fall for phishing attacks and click on links in suspicious emails even though we shouldn't.

---

Also, there are cars. And planes. And explosions.RED's Hydrogen One phone makes a cameo in the 'F9: Fast Saga' trailer

The next Fast & Furious movie is almost here, and on Friday we got a peek at its four-minute "teaser" trailer. Beyond the near-fantasy-level automotive hijinks, one thing that jumped out is the crew's choice in mobile devices. For whatever reason, more than one car has RED's much-hyped phone strapped to the dash, and this isn't even the only production to feature that hardware -- the Hydrogen One stood in as an evil plot device in the final season of Marvel's Runaways.

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It'll give you range anxiety outside cities, however.Honda E first drive: Futuristic and incredibly fun to drive

It's a miracle the Honda E is even here, considering how much Honda seemed to hate electric cars. Until recently, Honda (along with Toyota) has focused on hybrid and hydrogen cars, while ceding the EV market to Tesla and others. However, a maverick gang of Honda engineers convinced management to build the Honda E. They even kept the design pretty close to the Urban E concept it's based on, right down to the wild futuristic interior.

And it paid off. The compact EV's retro-cute je ne sais quoi (not to mention all the technology inside) has grabbed the attention of car buyers and EV fans of all stripes. Now, all that remains is to see if it's as fun to be in and drive as it looks. Steve Dent took it for a spin.

But wait, there's more...

• This is the production version of Tesla's Model Y
• Hulu CEO steps down as it integrates with Disney's streaming plans
• Rockstar doles out freebies to 'GTA Online' and 'Red Dead Online' players
• Nintendo wins legal battle against one of Tokyo's real-life 'Mario Kart' tours
• Every smart device you love will die -- starting with Sonos
• Atari-themed gaming hotels are coming to eight US cities
• Get ready to eat bugs if you want to live beyond 2050
• Sony A6100 review: Incredible autofocus performance for a budget camera
• MoviePass declares bankruptcy

---

The Morning After is a new daily newsletter from Engadget designed to help you fight off FOMO. Who knows what you'll miss if you don't Subscribe.

Craving even more? Like us on Facebook or Follow us on Twitter.

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In this article: av, business, entertainment, gadgetry, gadgets, gear, internet, themorningafter, transportation

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2020-02-01 14:29:29Z
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Chicken wings are Super Bowl LIV's MVP with Americans expected to eat a record 1.4 billion wings - USA TODAY

Kelly Tyko USA TODAY

Published 2:59 PM EST Jan 31, 2020

The chicken sandwich may have finished 2019 as poultry's best player, but on Sunday, the chicken wing will be the MVP.

Super Bowl Sunday is the unofficial annual day of the wing; and this year, Americans are expected to eat a record 1.4 billion of them, 27 million more wings than during the big game a year ago, according to the National Chicken Council's annual Chicken Wing Report.

“Super Bowl is the single-biggest wing occasion,” National Chicken Council spokesman Tom Super told USA TODAY. “The demand for chicken has been increasing, and consumption is at an all-time high. But definitely around Super Bowl time, wings are king."

And to be clear, we're talking about the traditional bone-in wings – not boneless wings, which the Chicken Council's Super called "chicken breast with buffalo sauce." 

For game day, he estimates two-thirds of wings will come from takeout and a third will be made at home. Super Bowl Sunday has been the No. 1 revenue day of the year for chicken wing restaurants, according to an analysis by Womply, a small-business software provider.

A good bet: More people will wager on this year's Super Bowl than ever before

'Super Bowl Fever': Millions of employees expect to ditch work Monday, survey finds

Super Bowl 2020: Big food day

This Sunday is likely to be one of the biggest party days of the year. According to the National Retail Federation's 2020 Super Bowl survey, nearly 194 million adults said they had plans for the game, which pits the San Francisco 49ers against the Kansas City Chiefs in Super Bowl LIV from Miami.

All the parties and food add up.

The retail group's survey estimates the average person will spend $88.65 on food and beverages, merchandise and party supplies, for a total of $17.2 billion nationwide.

Super Bowl Sunday is also still a big day for pizza chains.

It's one of Domino's top five busiest delivery days of the year in the U.S. The pizza chain says it typically sells about 2 million pizzas on game day, which the company says is 40% more than a normal Sunday.

What about plant-based?

While KFC and Beyond Meat announced this week an expanded test of plant-based Beyond Fried Chicken, the vegan-friendly "chicken" will miss Sunday's kickoff.  The test starts Monday in more than 70 locations in Charlotte, North Carolina, and Nashville, Tennessee, and surrounding areas.

Sandy Sauter, executive chef of programs at The Culinary Institute of America, said there's also movement in "plant-forward" rather than "plant-based."

She said while Americans aren’t completely removing meat, they’re trying to make some substitutions and adding more vegetables and other plant-based ingredients into their meals, including on Super Bowl Sunday.

"One easy game-day swap is cauliflower," Sauter said. "We’re seeing a proliferation of Buffalo-style cauliflower on restaurant menus and this versatile vegetable also lends itself to other favorite wing sauces, including barbecue, sweet and sour and sweet chili pepper.”

Hosting a Super Bowl party?: Here are 15 things you need

Ad Meter 2020: Top Super Bowl commercials of all time

Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko

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2020-02-01 08:25:01Z
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Roku and Fox strike a last-minute deal to keep Super Bowl-streaming apps working - The Verge

For a moment, it looked Roku owners would be losing the highest-quality way to stream the Super Bowl for free, when the set-top box maker announced Thursday that it would abruptly pull Fox’s apps off the platform a day ahead of the game. But that won’t actually be happening.

Late Friday, Roku and Fox announced that they’ve reached a new agreement that will ensure the Fox apps keep on working without pause — and they’ll be restored to the Roku app store this weekend ahead of the game, Roku tells The Verge.

“We are delighted that we reached an agreement with FOX to distribute FOX channels on the Roku platform. Roku customers can stream the Super Bowl through FOX Now, Fox Sports and NFL in addition to other ways,” reads a statement from Roku.

“We are pleased to have reached a successful agreement with Roku. FOX’s leading suite of apps will continue to be available on the Roku platform,” reads a parallel statement from Fox.

Remember when we reported Thursday how the Roku icon had disappeared from Fox’s Super Bowl landing page? It’s back again, too — as if nothing ever happened.

As we’ve reported, the entire standoff was a heated carriage dispute playing out in the public realm, with each side hoping its customers would get angry enough at the other party to convince them to stand down. While Roku tried to convince customers to watch the game through other apps (like NFL, Fubo TV, Sling TV, and Xfinity), Fox poured on even more pressure on Friday by getting Fox News hosts like Sean Hannity and Laura Ingraham to rile up their audiences directly. We’ve definitely seen tweets from angry owners threatening to ditch their Roku.

Got a tip for us? Use SecureDrop or Signal to securely send messages and files to The Verge without revealing your identity.

It’s not clear who started the fight, or who gave in at the end. While each side blamed the other for pulling the channels down to begin with, neither Roku nor Fox would share any proof of that with The Verge. Nor are they sharing details of the new agreement now, though we’re hoping maybe some of those details eventually float our way.

But the situation did seem suspiciously similar to a tactic mentioned in a Bloomberg report this past December about how “Roku executives will threaten to cancel a channel if its owner doesn’t give Roku a larger cut of ad sales,” and we’re quite curious if Roku got its way. Roku holds a lot of power as the most popular streaming platform in the US, but then again so does Fox as the exclusive presenter of Super Bowl LIV.

Either way, we’ve now seen that over-the-top streaming platforms like Roku may be no better than a cable box in one key way: they can still hold subscribers hostage if there’s extra money to be made.

Roku’s true identity as a cable box that works over the internet revealed and not just an open platform for streaming apps coming through at the worst possible time: https://t.co/Ysb6w9O439

— nilay patel (@reckless) January 31, 2020

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2020-02-01 07:08:13Z
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