#UK S&P again cuts scandal-hit Volkswagen’s credit rating

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Standard and Poor's lowered to 'BBB+' from 'A-' Volkswagen's long-term debt rating and said the outlook remained negative

Berlin (AFP) – Standard and Poor’s cut its credit rating for German automaker Volkswagen for a second time in two months Tuesday, saying its emissions scandal had “tarnished VW’s reputation and brand perception”.

The international credit rating agency lowered to ‘BBB+’ from ‘A-‘ its long-term debt rating and said the outlook remained negative amid the biggest scandal in the company’s history.

“The downgrade reflects our view that VW’s manipulation of engine emissions exposes the group to material, wide-ranging adverse credit impacts,” said the agency, which had already downgraded Volkswagen in mid-October.

“In our view, these events have tarnished VW’s reputation and brand perception, and will negatively affect the group’s market position and competitive advantage.”

Volkswagen has been engulfed in scandal since September, when it admitted more than 11 million diesel vehicles worldwide had “defeat” software designed to cheat on emissions tests.

The devices turn on emissions controls when a vehicle undergoes emissions test, then turn them off under normal operations, allowing illegal amounts of nitrogen oxide to spew into the air.

The world’s number-two automaker faces regulatory and criminal investigations in several countries, including Germany and the United States, and potentially billions of dollars in fines.

The scandal has widened, with the German automaker subsequently revealing that it had understated carbon dioxide emissions, including those for gasoline engines, for up to 800,000 vehicles.

S&P said that for VW “these risks and related costs continue to expand and deepen, particularly following the recent disclosures regarding the misrepresentation of CO2 emissions and fuel consumption levels”.

“We also see weaker business prospects for the group, as VW experiences reduced profits and cash flows from lower volumes and prices, as well as substantial costs and potential fines and litigation damages,” it said in a statement.

Volkswagen’s US sales plunged 25 percent in November after it suspended sales of diesel vehicles in the wake of the cheating scandal, the embattled German automaker said Tuesday.

Share prices in the auto giant ended off 1 percent at 130.15 euros Tuesday but still around a quarter below September, when the emissions scandal broke. Even so, shares have recovered from their post-scandal trough having several times fallen below the 100 euro mark in the past three months. 

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#UK Congress reaches deal on 5-year transportation bill

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WASHINGTON (AP) — The House and Senate have reached agreement on a 5-year, $281 billion transportation bill that would increase spending to address the nation’s aging and congested highways and transit systems.

The bill would put an end to the cycle of temporary extensions and threatened shutdowns of transportation programs that have bedeviled Congress for the past seven years, making it difficult for states to plan long-term projects.

But the bill falls short of the money the Obama administration says is needed to keep traffic congestion from worsening, and it puts off the difficult decision of how to pay for transportation programs in a way that’s sustainable in the long term.

Passage of the bill is expected by Friday, when authority to process aid payments to states expires.

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#UK The Trial Blazers unleashed one of the ugliest cases ever of the ‘Hack-a-Shaq’ strategy

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DeAndre Jordan

In one of the ugliest cases of “Hack-a-Shaq,” you will ever see, the Portland Trail Blazers intentionally foul DeAndre Jordan of the Los Angeles Clippers 14 times on Monday, including one stretch of ten straight possessions in the fourth quarter.

The “Hack-a-Shaq,” named for Shaquille O’Neal and often referred to as the “Hack-a-DJ” for Jordan or the “Hack-a-Howard” for Dwight Jordan, is a strategy by a trailing team of intentionally fouling a player who is notoriously bad at shooting free throws. The idea is that he will likely miss one or both attempts and the trailing team can get the ball back quicker.

In this case, Jordan was intentionally fouled 14 times. One particularly bad stretch started at 3:50 mark of the fourth quarter. The Blazers intentionally fouled Jordan ten straight times over the course of the next 1:32 of game action.

Jordan took a whopping 34 free throws, the third-most in the NBA since the 1963-64 season.  

Adding to the ugliness of the situation was that Jordan missed 22 of the free throws. It was clear he was starting to get frustrated towards the end.

The madness finally came to an end thanks to a rule that the NBA needs to extend. In the final two minutes of the game, a foul on a player away from the ball also comes with a technical foul and the team gets to keep the ball after the free throws.

But what is truly amazing is that teams still utilize this strategy even though it almost never works. The Clippers are now 14-0 in regular season games in which Jordan shoots at least 14 free throws. When Jordan, Howard, or O’Neal have shot at least 25 free throws in a game, their teams are 10-1.

In fact, in last night’s game, the Trail Blazers trailed by 14 in the fourth quarter when they began the Hack-A-DJ. During that stretch, Jordan actually outscored the Blazers 8-5, and extended their lead to 17. The Clippers went on to win 102-87.

So if the NBA remains steadfast and refuses to extend the off-the-ball fouls to the entire game, hopefully teams will just realize it is a waste of everybody’s time, including their own.

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#UK It’s the beginning of the end for Adobe Flash

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RIP_flash

Adobe is finally starting to acknowledge that Flash’s days are numbered.

The company announced on Tuesday that it’s renaming Flash Professional, the software developers use to primarily make Adobe Flash content for the web, to Adobe Animate CC in early 2016.

Adobe said the renaming of the two-decade-old Flash Professional is meant to “more accurately represent its position as the premier animation tool for the web and beyond.” It also means that even Adobe knows that Flash is going the way of the dinosaur.

Adobe said that one-third of all content created in Flash Professional is already made with HTML5, the competing web standard that former Apple CEO Steve Jobs famously pronounced to be the future of the web in 2010.

Flash, which you probably associate with annoying Facebook games and videos that won’t load on your iPhone, hasn’t had a good reputation for a long time. Most recently, a major security flaw was exposed in Flash that could remotely “crash and take control of the affected system” on Windows, Mac, and Linux.

Adobe Animate will still let developers create Flash content when it’s released early next year, but there’s nothing like dropping “Flash” from its name to signal the beginning of the end.

Here’s Adobe’s video announcing the change:

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#UK Microsoft’s futuristic headset makes for some pretty incredible home movies (MSFT)

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We’ve seen Microsoft’s incredible, futuristic headset HoloLens do some amazing things already.

It can project horrifying robot monsters in real life:

Or, more practically, it can project television — and much more, as seen below — on any surface in your house:

HoloLens

One aspect we’ve seen very little of so far is its ability to act as a first-person video camera. Though HoloLens doesn’t arrive in any form until next year, one Microsoft employee has a HoloLens at home and he’s showcasing its capability as a personal video recorder in some crazy-looking home movies.

Like this:

HoloLens

That’s our galaxy, spinning and animated, sitting in the hands of a little girl. This is possible using HoloLens, which projects the galaxy into the wearer’s vision.

Here’s the full, short video:

That was posted to Twitter on November 28 by Noble Smith, a Microsoft narrative designer on the HoloLens “mixed reality” headset project. It’s a full-on computer running a version of Microsoft’s Windows operating system, and through the front of the headset users can see an altered version of normal reality. 

In this case, rather than Smith seeing a young girl, he was seeing a young girl holding our sun in the palms of her hands. A few days later, Smith tweeted to his followers that he’s “logged close to 400 hours” with HoloLens.

“All that I can say is that the magic never fades,” he said. 

Microsoft, apparently okay with Smith’s public sharing of an ongoing project, allowed him to share another video on Monday:

The HoloLens headset has been shown a few times before; it’s Microsoft’s answer to all the virtual reality and augmented reality headsets out there, and the ones currently in development. There are no announced plans for a consumer HoloLens launch just yet, but developers can get early development systems starting in 2016 (for the lofty price of $3,000 apiece). 

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#UK Here’s our best look yet at the new Batmobile in ‘Batman v Superman’

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Two of the most iconic Batman symbols are the hero’s car and his suit.

And if you have the Batman game “Arkham Knight,” you can get your hands on a sneak peek of both from the upcoming “Batman v Superman” film. 

The latest downloadable content (DLC) for the game not only gives fans the ability to drive around in the new Batmobile from “Batman v Superman: Dawn of Justice,” but it also lets you play as Ben Affleck’s version of the Caped Crusader. batman v superman batmobile

This is the best look we’ve had yet at Batman’s new suit and ride. 

Keep reading to get a closer look at both.

Say hello to the new Batmobile.

This will be Batman’s new ride in next spring’s “Batman v Superman.”

Here’s a full look at the new vehicle.

batmobile 360

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#UK US, NATO allies concerned by Russia, but need its help

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U.S. Secretary of State John Kerry, center, waits for the start of a round table meeting of Resolute Support at NATO headquarters in Brussels on Tuesday, Dec. 1, 2015. U.S. Secretary of State John Kerry and other NATO foreign ministers meet Tuesday to discuss Russia, beefing up the alliance's southern defenses and whether to expand NATO by adding Montenegro to the NATO Alliance. (AP Photo/Virginia Mayo)

BRUSSELS (AP) — The United States and its NATO allies struggled Tuesday to come up with a clear message to send Russia at a time of conflicting concerns in Europe and the Middle East.

While the West remains alarmed by Moscow’s aggressive action in Ukraine and go-it-alone military efforts in Syria, they say they need Russian help in both places.

Meeting in Brussels, which just emerged from a virtual lockdown prompted by terror threats, U.S. Secretary of State John Kerry and other top diplomats discussed ways to intensify the campaign in Syria against Islamic State extremists and calm tensions between Turkey and Russia after Ankara shot down a Russian warplane that it believed crossed its border.

The meetings took place as Germany approved plans to commit up to 1,200 soldiers for non-combat roles in support of the anti-IS coalition and a day before a British vote on expanding airstrikes against the group. In Paris, U.S. President Barack Obama voiced optimism about Russia eventually dropping its support for Bashar Assad, Syria’s leader, and helping to end the war.

The 4½-year conflict has killed more than 300,000 people and sparked the worst refugee crisis in Europe since World War II.

But for all the hopes of greater cooperation, there were countless reminders of the tensions between NATO and Russia, the land it was originally created to counter. Russia wasn’t present for any of the talks at the alliance’s headquarters outside the Belgian capital.

Kerry and Polish Foreign Minister Witold Waszczykowski discussed a recent uptick in violence in eastern Ukraine and stressed the need for the government, rebels and the Kremlin to fully implement a February ceasefire agreement. They also agreed that “international sanctions against Russia should stay in place,” State Department spokesman John Kirby said.

Russia annexed the Ukrainian province of Crimea in 2014 and has been supporting rebels fighting the government in the eastern half of the country.

In the wider meeting, NATO countries prepared to welcome Montenegro as the military alliance’s 29th member, despite Moscow’s warning of retaliation against the small Balkan nation, which is hundreds of miles away from Russia’s border.

Meanwhile, Turkey worked to build broader support for its Nov. 24 decision to shoot down a Russian warplane that Ankara and Washington say violated Turkish airspace, and NATO’s secretary-general, Jens Stoltenberg, raised the possibility of reworking decades-old guidelines for coordination among rival militaries.

Nowhere are the stakes higher than in Syria, where Western countries are ambivalent about securing Moscow’s assistance in rooting out the Islamic State from its centers of operations.

France, where 130 people died last month in the Islamic State’s biggest Western attack to date, is among those pushing for closer military cooperation with Russia. The United States says that cannot happen while Russia is shoring up the Assad’s rule by targeting U.S.-backed and Arab-backed rebels more so than IS and other extremists.

But as in Ukraine, Washington is banking on Russia’s support in diplomatic efforts. The former Cold War foes have been working for months to get Syria’s government and moderate opposition forces into direct negotiations, which they hope to start in the next few weeks.

Obama said he believed a Russian “shift in calculation” was possible.

But, he added: “I don’t expect that you’re going to see a 180 turn on their strategy over the next several weeks. They have invested, for years now, in keeping Assad in power. Their presence there is predicated on propping him up, and so that’s going to take some time for them to change.”

At least one question regarding the relationship with Russia is expected to be clarified by the time the NATO foreign ministers’ meeting concludes on Wednesday, according to diplomats: Montenegro’s request to join NATO.

Its accession would likely be finalized at the alliance’s summit in Warsaw next year, making it the first NATO expansion since taking in Albania and Croatia in 2009.

Last week, Russian Foreign Ministry spokeswoman Maria Zakharova said starting the process with Montenegro would be “another serious blow” to international security and deemed it “confrontational.” Russian lawmakers have raised the possibility of trade and other penalties against the country in response.

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#UK There’s a ‘dirty soda’ war brewing in Utah as chains battle to become the Mormon Starbucks

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SodaliciousThe battle for Utah’s nonalcoholic soda market is resulting in some truly weird creations.

Two soda chains in Utah, Sodalicious and Swig, are engaged in a battle over the right to sell “dirty” soda. Soda spiked with flavored syrups is now a booming business in the state where creative soda shops are becoming “Mormon Starbucks,” reports the New York Times.

Many Church of Jesus Christ of Latter Day Saints members do not consume caffeine or alcohol. 

As the soda craze has heated up in the state, Swig’s founders, who opened their first of 10 shops in 2010, are suing eight-location chain Sodalicious for stealing their idea of selling “dirty” sodas.

While the two chains are battling it out in court, the competition has yielded some brilliant and bizarre soda flavors. Swig’s menu emphasizes make-your-own dirty sodas and Sodalicious has a tendency to utilize slightly scandalous names, but both have created drinks you won’t find in any grocery store.

Here are nine flavors that Swig and Sodalicious are hoping will help them dominate the dirty soda wars.

Sodalicious’ ‘Extra Dirty Second Wife’

Mountain Dew, blood orange and mango syrup, a shot of half and half

 Swig’s ‘Missionary’

Sprite, coconut cream, and tiger’s blood syrup

Sodalicious’ ‘It’s Not Me It’s You’

Pepsi, raspberry puree, and vanilla syrup

Swig’s ‘The Drizzle’

Sprite, pineapple syrup, peach puree, and coconut cream

 Sodalicious’ ‘Your Mom’

Dr. Pepper, with coconut and blackberry syrup

Swig’s Big Al

Diet Coke, coconut syrup, and lime

Sodalicious’ ‘Second Base’

Lemonade, with pineapple, blue curacao, and sucker punch syrup

 Swig’s ‘Jazz Beary’

Sprite, raspberry puree, and coconut cream

 Sodalicious’ ‘Flaming Ginger’

Mountain Dew, mango puree, and strawberry syrup

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#UK CREDIT SUISSE: Apple’s newest iPhone is underperforming, but a mini iPhone could save the day (AAPL)

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Tim CookApple is cutting orders for the components to build iPhones because of weak demand for the new iPhone 6S, according to a new report by Credit Suisse.

But a potential miniature iPhone, rumored to be released early next year, could help boost iPhones sales, Credit Suisse says in the report.

Credit Suisse says its Asia Tech Team has confirmed that Apple’s has recently lowered its orders from suppliers, and that Apple now plans to build 70 million to 75 million iPhones in December and 45 million to 50 million iPhones in March. 

That’s lower than what Wall Street has been expecting and point to a “subdued” iPhone cycle for the next few quarters driven by weak demand for the 6S, Credit Suisse says. 

In a previous report, Credit Suisse blamed the softer demand for the iPhone 6S on the lack of apps that really take advantage of the phone’s new “3D Touch” feature. 

But not all is lost, Credit Suisse says: People who have iPhones tend to keep them, and Apple’s new iPhone installment plan program will put it into the hands of more people than ever before.

In fact, Credit Suisse expects that “over time,” the iPhone install base will hit 615 million users, thanks to Apple’s aggressive efforts in growing that business. In its most recent earnings report, Apple announced it had sold 48.05 million iPhones.

Plus, if Apple follows through with the rumors and releases a smaller, lower-cost four-inch-screen iPhone in the first half of next year, Credit Suisse says, it could open up the market and make the device appealing to a larger audience.

The mini-iPhone could add 62 cents a share to Apple’s bottom line in calendar year 2017, Credit Suisse reckons, and could drive iPhone unit shipments to 265 million in the long term.

And unlike what happened with Apple’s iPhone 5C flop, a smaller iPhone would be enough unlike the current flagship 6S that it wouldn’t confuse the market, according to the analysts.

SEE ALSO: CREDIT SUISSE: Apple is slashing iPhone orders

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#UK 60 years ago today, Rosa Parks refused to leave her bus seat — here’s the police report

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When Rosa Parks refused to give up her bus seat to a white passenger 60 years ago today, the police arrested her. She was one of 100 people whom the police charged with violating national segregation laws.

As the officers arrested her, Parks asked them, “Why do you push us around?” One replied, “I don’t know, but the law is the law and you’re under arrest.”

Here is the police report, which says that Parks was “sitting in the white section of the bus, and would not move back.”

Prior to her most famous action, Parks challenged white supremacy for decades. She joined the local chapter of the NAACP in 1943 and served as branch secretary,  pushed for voter registration, supported black victims of violence, and fought for women’s rights as well as desegregation of schools and city spaces.

Parks understood the power of speaking up against oppression. As she describes in the recently opened Rosa Parks collection at the Library of Congress, she had a “life history of being rebellious.”

The civil rights hero is now an American legend and may become the new face of the $10 bill.

 

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