• Wed 78°F / 54°F
Home » Archives by category » Business News (Page 6)

How Drones Will Replace Humans in the Workplace

How Drones Will Replace Humans in the Workplace

iStock/Thinktock(NEW YORK) — Drones are everywhere these days. They have replaced professional photographers at weddings, aided farmers mapping crops, assisted on movie shoots, and one day, they might even deliver your mail.They’re also increasingly affordable. A popular drone model for civilians costs about $500 on Amazon.But could the gadgets really become as ubiquitous as smartphones? And if so, is your job at risk?Maybe if you’re a cargo pilot for FedEx or UPS, said Mary Cummings, a drone expert who teaches at MIT and Duke University.“Drones will augment the delivery world,” Cummings told ABC News. “And one could argue that they would be much more environmentally friendly since they could take cars off the road for last mile delivery and help reduce congestion.”She said cargo planes used for deliveries will become drones in the next 10 to 20 years.
Crop dusters might also find their risky work outsourced. And it’s about time, Cummings added.“These jobs should be turned over to drones immediately,” she said. “Crop dusting is the most dangerous job in general aviation with a high accident rate. Drones can not only do that job better, but much safer.”Cummings predicts police and traffic helicopters will also one day be replaced by drones.But people shouldn’t worry too much about drones stealing their jobs. The technology will also lead to new jobs. For example, Cummings bets robot maintenance will be a booming business in the future.For now, until the FAA eases regulations, personal drones are mostly for fun. A drone recently filmed a fraternity party, and Martha Stewart is also in on the action, sharing photos online that a drone took of her farm.Drones can go beyond personal videos and photos — the options are endless, as Cummings points out. Facebook has reportedly expressed interest in using drones to provide worldwide Internet, an Arizona sheriff has mused about flying them above jails and the University of Missouri Journalism School is offering a course in how to use drones to report stories.“Ultimately, drones will create more jobs than they replace, they will save lives, and they will give us capabilities we only dream about — like everyone owning our own flying cars,” Cummings said.Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Why You Might Not Have to Fear Robots

Why You Might Not Have to Fear Robots

iStock/Thinkstock(BURLINGTON, Mass.) — Visions of robot wars and an apocalyptic future dominate imaginations. For instance, billionaire futurist Elon Musk tweeted last weekend that artificial intelligence could be more dangerous than nuclear weapons.While it’s a scary thought, Vlad Sejnoha, the chief technology officer with Nuance Communications, a company that works with artificial intelligence, said he’s an “optimist.””I am skeptical this amping up of the fear factor of when it comes to artificial intelligence,” he told ABC News.”If you look at the history of technology, we have been subject to immense changes,” Sejnoha said. “Life would be unrecognizable to a lot of folks who came before us.”Sejnoha shared three ways artificial intelligence is already working to help, not hurt humans.Get What You Want, NowWhether its driving directions, movie reviews or scheduling a time for the cable guy to come by — getting the information you want takes several steps.Why not leave it to an artificially intelligent machine?”One simple idea is you cut through that clutter with simple spoken requests,” Sejnoha said.”You should be able to do that across lots of different devices,” he said. “You could look up a sports score while driving in the car and when you drive home you can tell the TV to turn that exact game on. It could also become your agent to controlling other smart things.”The bottom line: “I think we will have the ability to transact with our surroundings but also get information in very seamless ways,” he said.They Care About Your HealthThere are artificially intelligent systems already being used by doctors, Sejnoha said.”We’re making it possible for doctors to take notes or document the patient encounters, putting those facts into electronic health records and then helping the doctor provide quality care by noticing discrepancies.”An Artificially Intelligent FriendThe movie Her, showed the deep emotional bond a man developed with Samantha, his personal operating system. It’s a scenario that isn’t inconceivable in real life, to an extent, Sejnoha said.”A lot of users form a bond with their virtual assistants. I think its entirely plausible some folks might view them as a companion,” he said. “As we build more and more intelligent systems that can perform more sophisticated tasks, the question is: Should we make them human-like or neutral software tools? There is an argument being made to emulate some human characteristics.” Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Paper Boys in Iowa City Reign Supreme

Paper Boys in Iowa City Reign Supreme

Stockbyte/Thinkstock(CARROLL, Iowa) — During the times before parents worried about everything, a lot of kids, usually boys, had a daily paper route to earn a little spending money for pizza and other sundries.Nowadays paper routes are nearly obsolete, but not in Carroll, Iowa, where the Daily Times Herald is still the newspaper of record. In fact, the publishers depend on youngsters to deliver the Herald every afternoon, five days a week.Kids between the ages of nine and 17 aren’t exactly going to get rich doing it since they only earn ten to 12 cents for each paper they put on someone’s porch or in their mailbox each day. However, the pay is okay in most cases and the hours aren’t long. One deliverer says he’s only outside for 30 minutes.The Daily Times Herald itself is modest in size at 16 pages per edition, but it must be doing something right because in 2013 it received the honor of Iowa’s “Newspaper of the Year.”Follow @ABCNewsRadio Copyright 2014 ABC News Radio

The Burden of College Debt Just Got Bigger

The Burden of College Debt Just Got Bigger

Hemera/Thinkstock(NEW YORK) — There’s no question that carrying a big debt after college can slow down a graduate’s progress in life.However, as reported in The Wall Street Journal, the weight people feel from having to pay off tens of thousands of dollars in loans is much heavier on one’s psychological well-being than anyone previously imagined.Brandon Busteed, executive director of Gallup Education, describes what oppressive college debts means in eight short words, “It’s bad for all aspects of your life.”Busteed, who conducted his poll in conjunction with Purdue University, asked 30,000 college grads from all 50 states to measure their lives in the following five categories: feelings of purpose to their lives, supportive relationships, financial security, a sense of community and physical well-being.They were also asked about their financial situation and loan debt.  People who graduated from 2000 through 2014 with $50,000 or more in unpaid loans rated lower in all five categories than grads who were debt-free.The immediate ramifications from high debt are the need to take a job, perhaps not in one’s field, to pay down the loans; the postponement of getting married and/or buying a house; and stress that affects physical health.Down the road, the inability to save also delays establishing a nest egg for retirement, which only makes people more anxious.Currently, 70 percent of grads are in debt and what’s worse, Busteed says, is that average debt is getting close to $50,000.Follow @ABCNewsRadio Copyright 2014 ABC News Radio

This Cookie Company’s CEO Is 10 Years Old

This Cookie Company’s CEO Is 10 Years Old

iStock/Thinkstock(NEW YORK) — Cory Nieves, a 10-year-old who goes by Mr. Cory, sure knows how to market a product.”My favorite is the chocolate chip,” he told ABC News of the cookies he makes under his company, Mr. Cory’s Cookies. “I come up with all the recipes, and oatmeal raisin has no sugar added.”
He speaks of his expansion plans for the company, including trying to land corporate accounts. Not surprising of a CEO, except this CEO hasn’t even entered the fifth grade yet.
Mr. Cory’s Cookies started in 2009 as a stand selling hot cocoa, cookies, and lemonade, until someone reported his business to the health department.”He was really discouraged and sad, but they also helped him to incorporate the business legally,” Mr. Cory’s mother, Lisa Howard, told ABC News. “Now, he does a lot of events with local car dealerships, hospitals, hair salons, banks and a lot of corporate offices where we live in Englewood, New Jersey.”
Now that it’s summertime, Mr. Cory’s days are booked solid with events, markets and more. Once school returns, Howard spends her days doing his deliveries.”He loves checking his emails. He’s really ongoing with it. He learns math really well with his business more than in school,” Howard said. “Sometimes, the school he goes to incorporates what he does into the curriculum. The kids love it.”
It’s not strictly business for Mr. Cory though.”He enjoys his kid life with playdates,” said Howard, 28. “As he got older, he would say, ‘I love doing the cookie business, mommy. It makes me happy.’ I figure, at the end of the day, running a business is going to teach him structure, how to be a man, how to take his life seriously, how to have morals.”
Looking ahead, Mr. Cory has a simple mission.”It’s really fun and you get to eat a lot of cookies,” he said. “I just want to make it expand and let everyone have cookies.”
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Rural Italian Town Offers Homes for One Euro

Rural Italian Town Offers Homes for One Euro

iStock/Thinkstock(ROME) — The depopulation of rural Italy has led the village of Gangi to offer homes for one euro.
The tiny town council is hoping that by putting about 20 homes on the market for the cost of roughly $1.34 in the United States, foreigners will snap up the houses.
Just one hitch: buyers have to promise to renovate the homes.
New owners will have to put down another $6,000 as a guarantee that they will renovate the crumbling houses — money they’ll get back once they do.
The stunning hilltop town was founded in the 12th century, features castles and hiking trails, and is only an hour away from the seaside. While Gangi — in Sicily — is not far from the famed mafia town of Corleone, experts say that organized crime is drawn to major construction projects, not giving new life to small, centuries-old dwellings.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Six-Year-Olds Have More Tech Knowledge Than Adults, Survey Shows

Six-Year-Olds Have More Tech Knowledge Than Adults, Survey Shows

iStock/Thinkstock(NEW YORK) — Children may be more tech-savy than adults.
A survey of nearly 3,000 adults and kids by Britain’s communications regulator Ofcom found that six-year-olds have more technology knowledge than 45-year-olds.
The survery also reports that, after our teenage years, “digital confidence” begins a slow, long decline.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Dow Loses 75 Points

Dow Loses 75 Points

iStock/Thinkstock(NEW YORK) — Stocks edged lower in Thursday-afternoon trading as investors remained troubled by escalating tensions between Russia and the West over Ukraine. 
The Dow Jones Industrial Average went down 75.07 points to 16,368.27. The Nasdaq lost 20.08 points, closing at 4,334,.97, while the S&P 500 lost 10.67 points, ending the day at 1,909.57.
Fewer people sought jobless benefits last week, as jobless claims remain at relatively low levels. The Labor Department says weekly applications for unemployment fell 14,000, to a seasonally adjusted 289,000.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Survey: Average Interest Rate for Retail Credit Cards Is 23%

Survey: Average Interest Rate for Retail Credit Cards Is 23%

iStock/Thinkstock(NEW YORK) — Retail credit cards can burn a hole in your pocket. A new survey out Thursday shows many big retailers offer cards that come with above average interest.”[The average interest rate is] 23 percent which is about 8 points higher than the average rate for a credit card,” says industry analyst Matt Schultz at CreditCards.com.Schultz says some retail cards have lower rates. “The lowest one that we saw was the OfficeMax Visa Signature card,” he adds.He advises consumers, “Your smartest move is to pay it off at the end of the month” — in other words, pay your balance in full.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Home Prices Jump in Seattle

Home Prices Jump in Seattle

iStock/Thinkstock(LOS ANGELES) — Home prices are continuing their upward rise in the West.In San Francisco, the median home price is over a million dollars. And now, Seattle has hit its highest median home price ever at close to $544,000 — that’s far above the previous peak in August of 2007.The numbers from the Northwest Multiple Listing Service show prices in Seattle are up 17 percent in the past year.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

When Is the ‘Best’ Time to Buy a Car?

When Is the ‘Best’ Time to Buy a Car?

iStock Editorial(NEW YORK) — If you’re looking for a car and waiting for year-end deals, wait no more. August might actually be the better time to buy a new car, according to TrueCar Inc.The price for a new car averages $1,850 lower than those in December, which is traditionally believed to be the best time to buy a car, the car buying and selling site says.But not everyone agrees. Phong Ly, CEO of iSeeCars, said the end of the year, quarter or month is the best time to go shopping for a car because car sellers typically receive bonuses for meeting quota by end of those periods.But TrueCar says new car and truck prices during the past five years on its site in August have averaged $29,296, which is $169 lower than any other month.TrueCar said previously that better deals can be found at the end of the month than the start of the month, and weekdays are better than weekends. Why? With fewer people on the lot looking, the dealer is more willing to make a favorable deal.Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Cronut Creator’s Latest Tasty Treat

Cronut Creator’s Latest Tasty Treat

Dominique Ansel Bakery(NEW YORK) — Dominique Ansel is back. You probably know him as the creator of that little food craze called the Cronut, and now, he’s come up with another fun pastry that he revealed Thursday on ABC’s Good Morning America.
This time, the pastry chef was inspired by summer to create a pretzel lobster tail.“We were thinking of things that tasted good with butter, and someone joked ‘lobster,’ since it’s summer,” Ansel said. “We immediately thought of the lobster tail and how it was the perfect shape for tearing apart and dipping segments. It’s all about that buttery dipping sauce.”The buttery dipping sauce he’s referring to is made with honey and browned butter, then whipped to an airy, light perfection.The warm lobster tail itself is made with soft pretzel stuffed with homemade peanut butter and buttercrunch brittle. It’s rolled and shaped so that it can easily tear apart into bite-sized segments, and then sprinkled liberally with Maldon sea salt.Ansel designed it to dip into the whipped honey brown butter, intended so that the buttery, nutty, sweet and salty all work together to form a balance of flavors.The irresistible treat will be available starting Saturday at Ansel’s New York City bakery for $8.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Bidding for Sam Sung’s Old Apple Uniform Passes $80,000

Bidding for Sam Sung’s Old Apple Uniform Passes $80,000

Justin Sullivan/Getty Images(NEW YORK) — A former Apple retail employee is using his coincidental name, Sam Sung, to give at least to give at least $80,100 to a children’s charity.The auction began Tuesday with a starting price of 99 cents and, 111 bids later, had reached $80,100 by mid-day Thursday. There are still eight days left before the auction ends Aug. 15.
Sung’s identity went viral in 2012 when an intrigued customer tweeted a photo of Sung’s business card, as Apple and Korean electronics giant Samsung were entrenched in an intellectual property legal battle.
Sung, 25, said the idea for the auction was inspired when one of his old business cards fell out of a book, he wrote on his eBay page.”I had a great time working for Apple and would recommend it to anyone,” he wrote on the page. “I hope my old business card will go to another fellow Apple enthusiast with a sense of humour [sic] and the desire to help raise some money for a good cause.”After working for Apple, he joined recruitment firm Holloway Schulz in July 2013.Sung told ABC News that the $80,100 auction level seems “audacious” but the bids seem to be coming from reputable eBay users, at least from a feedback perspective.”I’m saddened that there are a lot of fake bidders, given the nature of the auction and Children’s Wish,” he said, adding that he’s communicating with eBay to find a solution.Before the bids reached the tens of thousands of dollars earlier Thursday, Sung wrote that because of fake bids, he is not accepting bids from eBay users without customer feedback or any new profiles created since Wednesday.”I apologise [sic] sincerely but have been advised to do so for the time being. There have been a number of fake bids and I’m trying to protect buyers with positive feedback and eliminate fake bids,” he wrote. “If you are genuinely interested in the auction and don’t have a history of feedback or PayPal account, please reach out to me before bidding and we can figure something out.”Jennifer Petersen, director of Children’s Wish for British Columbia and Yukon, told ABC News that she is “amazed and so excited” by Sung’s idea and the interest in the auction.”When Sam called me with his idea, I was of course thrilled but I believe neither of us thought it would get to this, especially so quickly. My staff and I are watching the frenzied bidding with much excitement,” she said.The average cost of her organization’s “wish” is $10,000, she said. If the $80,000 level of bidding is accurate, Sung will provide funds for eight children’s wishes.”One of our recent wish children, who sadly passed away just after his travel wish, summed up his experience so profoundly by saying ‘I forgot I was sick.’ Sam has made a choice to help us give another child and their family this gift,” Petersen said.She said Sung attended the nonprofit’s inaugural gala last winter and has since volunteered to decorate “Wish boxes,” which are given to all the “wish kids.””Sam has clearly been touched by what we do and come with a creative way to support us,” she said.Apple and eBay has not responded to ABC News’ requests for comment.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Jobless Claims Drop to 289K

Jobless Claims Drop to 289K

iStock/Thinkstock(WASHINGTON) — Jobless claims fell last week, decreasing by 14,000, according to the latest figures released Thursday by the Labor Department.For the week ending Aug. 2, the number of people filing for benefits dropped to 289,000. The previous week, claims stood at 303,000.The Labor Department said there were no “special factors” impacting this week’s figures.The four-week moving average also fell, decreasing by 4,000 to 293,500.Follow @ABCNewsRadio Copyright 2014 ABC News Radio

‘You’re Welcome, LeBron’ Billboard Surprises Drivers in NBA Star’s Hometown

‘You’re Welcome, LeBron’ Billboard Surprises Drivers in NBA Star’s Hometown

ABC Inc.(CLEVELAND) –  “You’re welcome, LeBron. Love, Miami.”That’s what a billboard in Akron, Ohio, states in large letters next to images of two NBA championship rings.It’s a not-so-subtle message to Cleveland Cavaliers basketball star LeBron James from determined Miami sports personalities.Dan Le Batard, an ESPN Radio host, said he received rejections from two Ohio newspapers last week to run the sarcastic message aimed at the former Miami Heat player. The Cleveland Plain Dealer and Akron Beacon-Journal had declined to place a full-page ad, he said.The radio show host and thousands of other Miami fans have shared about their “hurt” since LeBron announced last month that he was leaving Miami. Le Batard had written for the Miami Herald last month, “South Florida lost him the same way South Florida got him. There is some justice in that.”The Dan Le Batard Show with Stugotz features co-host John Weiner (a.k.a. Stugotz).The last line of the billboard states, “This ad is paid for by Gonzalo ‘Papi’ Le Batard and Stugotz.”Gonzalo Le Batard is the father of Dan Le Batard and a Cuban immigrant who has appeared with his son on the ESPN2 show Dan Le Batard is Highly Questionable.Gonzalo and Dan Le Batard and Weiner did not immediately respond to a request for comment.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Bank of America Nearing $17 Billion Settlement with Department of Justice

Bank of America Nearing $17 Billion Settlement with Department of Justice

iStock Editorial/Thinkstock(NEW YORK) — Bank of America and the Department of Justice have agreed to some financial terms of a settlement over securities fraud charges that will see the banking institution fork over $17 billion.The agreement was reportedly finalized during a phone call between Attorney General Eric Holder and Bank of America CEO Brian Moynihan last week. A number of details, however, still need to be worked out before the settlement can be reached.No announcement is expected on a complete settlement agreement this week.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Google Unveils Simpler Way to Unsubscribe from Email Lists

Google Unveils Simpler Way to Unsubscribe from Email Lists

Google(NEW YORK) — Google unveiled a new link at the top of Gmail messages Wednesday that makes it easier for users to unsubscribe from email lists.There’s nothing worse than having an inbox full of clutter and then having to scroll to the bottom of a message to find a way to unsubscribe.No matter the mailing list, Google is making it simple by providing a uniform unsubscribe link at the top right of every message.One click of the button will unsubscribe you right away, depending on the sender, or will take you to the right place to finish removing yourself from the mailing list.Google said the new option is “easy to find” and “is a win for everyone.”
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Wall Street Sees Wednesday Rebound from Tuesday Losses

Wall Street Sees Wednesday Rebound from Tuesday Losses

iStockphoto/Thinkstock(NEW YORK) — Wall Street saw a mostly positive day on Wednesday, rebounding narrowly after a day of losses on Tuesday, with all three major indices finishing higher than they opened.The Dow Jones Industrial Average closed at 16,443.34, up 13.87 from Tuesday’s close.The Nasdaq gained 2.21 to 4,355.05, while the S&P 500 inched up to 1,920.24, up 0.03 from Tuesday.On Wednesday, Sprint and T-Mobile scrapped plans to merge two of the largest mobile operators in the U.S. Among other things, regulators staunchly opposed the merger.Experts continue to advise Internet users to change their passwords after Russian hackers allegedly stole over 1.2 billion usernames and passwords.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

How Do You Stop an ATM Skimmer?

How Do You Stop an ATM Skimmer?

Purestock/Thinkstock(NEW YORK) — We’ve all heard the alarming stories of thieves stealing credit and debit card information via ATM “skimming” or the installation of phony card readers that read the data off of a card’s magnetic stripe.An online image search of ATM skimmers turns up devices that could easily pass for the real thing and are installed directly over existing card readers, blending in with the rest of the ATM.Unsuspecting customers swipe their card through the bogus card reader and the data is captured.Diebold, a major manufacturer of ATMs and financial security systems, has recently introduced a new type of card reader that turns the process on its head. ActivEdge requires users to insert their card sideways, via the longer edge. In doing so, only the ActivEdge card reader has full access to the card’s magnetic stripe.“What we’ve done is turn the card 90 degrees, so that when it’s taken into the card reader. It is not being taken in in the direction that allows the magnetic stripe to be read,” said Frank Natoli, executive VP and Chief Innovation Officer at Diebold.In a traditional card reader, once a card is inserted, a separate, magnetic read head scans and captures the data off of the card’s magnetic stripe. The read head is placed so that it reads the magnetic stripe at the same time the card is being inserted into the card slot.With ActivEdge, Diebold has separated the two steps of the card-reading process. First, by having users turn the card sideways, and secondly by reading the magnetic stripe information from that position.”Instead of moving the card over the read head, once it’s inside the card reader, we take the read head and move it across the stripe at 90 degrees,” said Natoli.Natoli added, “Between that and a gate that we have in front of it, there’s no way to create enough travel of the card itself in the proper direction, for a traditional skimmer to work.”Diebold has been pilot testing ActivEdge internally at the company’s own credit union for the past three months and is currently in talks with its existing customers to roll out the device. The card reader is available for newer Diebold ATMs, and can also be retrofitted to current Diebold ATMs.In a statement, Andy Mattes, Diebold president and chief executive officer said, “Card fraud at the ATM is a serious and prevalent crime that leads to significant losses. ActivEdge will be a game changer in our industry’s fight to protect consumer data.”
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Walgreens Abandons Plan to Move Overseas

Walgreens Abandons Plan to Move Overseas

Tim Boyle/Getty Images(DEERFIELD, Ill.) — Walgreens is staying put in the U.S.The company announced on Wednesday it will buy — pending shareholder approval — its remaining 55 percent stake in European health and beauty retailer Alliance Boots and keep the combined company’s headquarters in Illinois.”The Walgreens Boots Alliance holding company will be headquartered in the Chicago area, while Walgreens operations will remain headquartered in Deerfield, Ill.,” Walgreens said in a statement.Had the drugstore chain decided to reorganize overseas, it would have cut back on the amount of taxes it has to pay. But the company opted to not pull off an inversion because it wasn’t in the best interest of its shareholders.”We took into account all factors, including that we could not arrive at a structure that provided the company and our board with the requisite level of confidence that a transaction of this significance would need to withstand extensive IRS review and scrutiny. As a result the company concluded it was not in the best long-term interest of our shareholders to attempt to re-domicile outside the U.S.,” Walgreens President and CEO Greg Wasson said.Wasson will be president and CEO of Walgreens Boots Alliance when the acquisition is complete, which is projected to happen in the first quarter of 2015.
Follow @ABCNewsRadio Copyright 2014 ABC News Radio

Advertise With Us

Would you like to advertise on East Idaho News? Fill out this form to contact a representative.
  • Full and Last
  • The name of your company, business or brand.