Saturday, February 6, 2016

Wevr raises US$25m, will launch new virtual reality platform

Wevr raises US$25m, will launch new virtual reality platform

[VENICE BEACH] Virtual reality company Wevr raised US$25 million from investors including HTC Corp and Samsung Ventures to fund the launch of a new platform for VR creators to distribute content, executives said on Friday.
The platform, called Wevr Transport, is available now to a limited number of users in a test phase. It is designed to run on various virtual reality headsets through an app and on a website.
Virtual reality video offers a 360-degree view that immerses people in fantasy settings. The technology has been touted for decades but never reached mass adoption.
This year, Facebook Inc's Oculus unit, Sony Corp and others plan to introduce modern VR headsets. Wevr and other companies are making VR videos to lure audiences to the medium.
Wevr Transport features content from Wevr, other independent studios and major media companies, executives said. Current selections are free to watch, but paid VR experiences may be added to the mix later this year. "Consumers will pay for content that they value," Wevr's chief executive, Neville Spiteri, said. "
We think there will be experiences we will be able to sell." In future years, "there are opportunities for advertising and other revenue models," Mr Spiteri said.
REUTER
S

Twitter users unhappy over reported plan to prioritise tweets

Twitter users unhappy over reported plan to prioritise tweets

[NEW YORK] The hashtag #RIPTwitter became the top trending US item on Twitter on Saturday, after a report from BuzzFeed said the company is planning to change how it displays users' tweets.
The BuzzFeed report, which went live on Friday night and did not disclose the source of its information, said the social media platform will reorder tweets to prioritise those it believes more users will want to see. Currently, Twitter arranges tweets in chronological order.
The response to the news on Twitter was overwhelmingly negative, with the hashtag #RIPTwitter suggesting many users of the micro-blogging site believe the changes would mean the death of the company.
Many users were upset that tweets from accounts with fewer followers could possibly be suppressed under the new system. Others complained that the changes would make Twitter too much like Facebook, which arranges content through the use of an algorithm. "Dear Twitter, don't try to be like Facebook, we don't like Facebook #RIPTwitter," tweeted ana (@dearcalumthood) on Saturday. "Clearly the motto 'if it ain't broke don't fix it' is something @twitter isn't familiar with #RIPTwitter," tweeted EldestSalvatore (@EldestDamon) on Saturday.
A spokesperson for Twitter declined to comment.
Twitter has come under increasing pressure to boost user growth, as it struggles to attain advertising revenues equaling those of its larger Facebook rival.
Last month, Twitter came under fire when it announced a new feature that would allow users to post tweets up to 10,000 characters long, up from its previous limit of 140 characters.
REUTERS

Investors cheer Argentina's swift offer to holdouts

Investors cheer Argentina's swift offer to holdouts

[NEW YORK] Investors praised the speed with which new Argentine President Mauricio Macri made a cash offer to holders of defaulted bonds aimed at ending a long and bitter dispute that has strangled government finances.
A financial markets pariah since defaulting on a record $100 billion in 2002, Argentina proposed on Friday a US$6.5 billion payment to settle the legal battle and said two of the leading six "holdouts" in the case had already accepted the discounted terms. "We're very encouraged by the pace with which Argentina is finally resolving the outstanding disputes with all of its holdouts," said Shahriar Shahida, co-chief investment officer at New York-based Constellation Capital Management, which holds Argentine securities. "We're hopeful this government will have a much more conciliatory relationship with all of its creditors," Mr Shahida said.
As Mr Macri sought to woo multinational chief executives gathered at the World Economic Forum in Davos last month, the center-right leader told Reuters he wanted a "fair agreement"with the bondholders early this year.
Finance Minister Alfonso Prat-Gay said negotiations were continuing with creditors still pushing for an improved deal. They include billionaire Paul Singer's Elliott Management and Aurelius Capital Management. "There might be a chance that in the next few days they come on board," Mr Prat-Gay told Radio Mitre. "They're looking at the offer. They've been getting closer to our position."
Mr Macri's pursuit of a swift settlement contrasts with the defiant position of his leftist predecessor, Cristina Fernandez, who refused to offer better terms than the steep writedown accepted by most creditors in earlier bond restructurings.
She labeled the holdout investors "vultures".
Mr Macri needs a quick settlement to restore foreign investors'battered confidence and return Argentina to global debt markets. Foreign credit is sorely needed to bolster Argentina's thin central bank reserves and to finance a gaping fiscal deficit.
Obstacles to a final deal remain, however.
Argentina's offer represents a roughly 25 per cent discount on what they claim, and debt strategists expect the remaining holdouts to demand better terms.
Mr Macri will also need approval from Congress, where he lacks a majority.
If negotiations were to drag into the second half of the year, it might make it more difficult for Mr Macri to make good on election promises to revive the spluttering economy.
But for now, many investors are optimistic. "A deal will totally change the outlook. It will be extraordinary for this country," Cristiano Rattazzi, president of Fiat Argentina, told newspaper La Nacion, welcoming the prospect of lower sovereign and corporate borrowing costs.
Mr Alejo Costa, chief strategist at Buenos Aires-based brokerage Puente, said he expected bond prices to stage a modest rally of up to one cent on the dollar on Monday following news of the offer. More sustained gains would come with a final deal, he said. "We expect a three to four points once Elliott and Aurelius accept, and five more points at least once Congress approves it," Mr Costa said.
REUTERS

Thousands march in anti-Islam Pegida rallies across Europe

Thousands march in anti-Islam Pegida rallies across Europe

[Dresden, Germany] A march by Germany's anti-Islamic organisation Pegida drew thousands to the eastern city of Dresden on Saturday with rallies in support of the movement also held in a string of other European cities.
In Prague, around 5,000 people turned out for a Pegida-inspired march organised by two far-right groups, while in Amsterdam mounted police charged pro- and anti-Pegida groups and arrested at least a dozen people.
Another rally in the northern French port of Calais, home to the infamous "Jungle" refugee camp for migrants seeking passage across the Channel to Britain, brought about 20 arrests, local authorities said.
Police there responded with tear gas after scuffles broke out.
The Pegida group had called for the Saturday rallies, urging supporters to march under the anti-migrant banner of "Fortress Europe".
The group began as a movement in Germany in mid-2014 and has spread to other countries as Europe grapples with its worst refugee crisis since World War II.
Several thousand Pegida supporters turned up in Dresden under clear blue skies to march along the banks of the River Elbe, which flows through the city, to protest against mass immigration and the "Islamisation" of Europe.
Absent was Lutz Bachmann, the movement's founder, owing to illness, organisers said.
Police, who deployed around 1,000 officers for the occasion at which an AFP reporter said several thousand had answered the rallying call an hour after the event began at 1400 GMT.
Many held aloft banners criticising German Chancellor Angela Merkel, who is in the firing line for her liberal stance towards refugees after Germany took in more than a million migrants last year.
Around 2,000 people - less than the 10,000 expected by police - meanwhile joined an anti-Pegida rally at which participants urged tolerance towards migrants.
Anti-Pegida marchers chanted slogans including "no place for Nazis" and "we don't need xenophobia, demagoguery or Pegida." Pegida supporters counter that they are "European patriots against the Islamisation of the west." In Prague, an AFP journalist put the crowd at around 5,000 although police did not give an official estimate of the demo or its counter-rally. Police arrested four people.
In Dublin, scuffles broke out between people who had gathered to protest against the launch of Pegida in Ireland, and those who attended the launch of the group.
In Amsterdam, rival groups numbering a few hundred each waved banners with slogans such as "Refugees Welcome" and "Islamists not Welcome".
"We are demonstrating because we are very worried about our country and Islam," said 51-year-old Yvette from Utrecht, who carried a white banner saying "Pegida is Love" in Dutch.
"People are afraid, you must understand," she said.
The two sides were kept apart by dozens of mounted and riot police while a military helicopter hovered overhead.
An AFP reporter witnessed at least a dozen arrests and mounted police charging the crowd to separate the rival groups.
Anti-Pegida demonstrator Tommy Morelli, 32, told AFP: "I cannot believe that these guys (pro-Pegida supporters) can still think the way they do in this day and age. It's shameful." In Birmingham in central England, meanwhile, police said about about 150 Pegida supporters and 60 counter-demonstrators turned out.
Other demonstrations took place in Warsaw, Bratislava, the French city of Montpellier and Graz in southern Austria.
AFP

More than 130 people still trapped in quake-hit Taiwan tower

More than 130 people still trapped in quake-hit Taiwan tower

[TAINAN, Taiwan] A total of 132 people are still trapped beneath the rubble of a Taiwan apartment tower that collapsed in a powerful earthquake on Saturday morning, a local government official said on Sunday.
The total is much higher than authorities had first estimated when rescuers began combing the wreckage of the 17-storey building in the southern city of Tainan with sniffer dogs and acoustic equipment, looking for signs of life.
Rescue crews believed 29 of those still trapped could be reached more easily than the rest who were buried deeper in the rubble, said the official from the Tainan city government.
At least 18 people are known to have died in the 6.4 magnitude quake, which struck at about 4 a.m. local time at the start of a Lunar New Year holiday, including 15 found in the collapsed block, according to the latest official death toll.
As the rescue effort entered its second day, in chilly conditions, Taiwan authorities raised questions over the quality of the construction of the tower, built in the early 1990s.
Liu Shih-chung, Tainan city government deputy secretary general, said television footage of the ruins of the commercial-residential building suggested the possibility of structural problems related to poor-quality reinforced steel and cement.
However, city officials have said it is too early to say for certain if poor construction was a factor in the collapse.
The dead taken from the collapsed Wei-guan Golden Dragon Building on Saturday included a 10-day-old girl who was found in her dead father's arms, local media reported.
Authorities said the building had 96 apartments and 256 registered residents, though more people were inside when it collapsed.
Rescuers wearing red and yellow overalls pulled more than 240 survivors from the ruins and inserted huge supports under slabs of leaning concrete as they searched for additional survivors.
Buildings in nine other locations in the city of 2 million people had collapsed and five were left tilting at alarming angles, a government emergency centre said on Saturday.
REUTERS

Severe downturn like 2008 not expected: Singapore PM

Severe downturn like 2008 not expected: Singapore PM

The Government is watching the uncertain global economic situation closely, but does not expect a severe downturn like in the global financial crisis of 2008, Singapore Prime Minister Lee Hsien Loong has said.
In his traditional Chinese New Year message as Singaporeans usher in the Year of the Monkey, Mr Lee noted that the world economy is slowing, China's economy is softening, stock markets are down and business sentiment here is guarded.
He pledged the Government's continued support for businesses and workers as they restructure and upgrade so they can prosper again "when conditions improve, as they will".
"We should take these ups and downs in our stride. We still enjoy full employment, and there are still opportunities to be seized, in Singapore and in the region," he said.
Mr Lee hoped Singaporeans would continue to take on these opportunities, and be quick-witted and dexterous, "just as the monkey leaps onto higher branches to pick peaches, and through his wit and agility takes care of himself, and stays at least one jump ahead of others".
Slowdowns in global demand and local labour supply meant local employment here grew at its slowest pace last year, a rate not seen since the 1998 Asian financial crisis.
But companies reported 60,000 vacancies as of September last year, down 11 per cent from a year ago.
Mr Lee devoted a large part of his message to the significance of Chinese New Year as a time when many catch up with their extended families, and welcome new additions.
He was delighted that more Singaporeans were born last year - 33,800, the highest in 13 years. The figure surpassed the figure for 2012, the last Dragon Year which is seen as a propitious time to have children and which has seen more births.
"I hope we will have more babies in the Year of the Monkey," he said, adding that the Government will continue to support Singaporeans in the many responsibilities and joys of parenthood.
Besides babies, family is also about living a full life and sharing joys and sorrows over a lifetime with loved ones, said Mr Lee.
He cited a recent short film commissioned by the Pioneer Generation Taskforce to raise awareness of MediShield Life.
It depicts the love story of an elderly couple over the years, and Mr Lee felt it encapsulated what family means: a pillar of support in good times and bad.
The family is also the model for how Singaporeans should relate to their fellow citizens, "seeing one another as members of an extended Singapore family", he added.
Mr Lee wished Singaporeans a Happy Chinese New Year.
The Sunday Times

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