<p class="source"><span>Thomson Reuters</span></p><p class="caption">The aircraft carrier USS Carl Vinson (CVN 70) transits the South China Sea</p>Although the US first signaled the USS Carl Vinson aircraft carrier would head to the Korean peninsula on April 8, the US Navy has again publicly stated that the carrier is nowhere near it's intended destination.<p>The Navy <a href="http://www.c7f.navy.mil/Media/News/Display/Article/1159007/uss-carl-vinson-pilot-ejects-safely-at-sea/" target="_blank">announced</a> that a US Navy F/A-18E pilot safely ejected from his plane at sea on Friday with no apparent injuries in the <span>Celebes Sea, near Indonesia. That's more than 2,400 miles away from Pyongyang, or <a href="http://www.wolframalpha.com/input/?i=celebes+sea+to+pyongyang+at+40+knots" target="_blank">roughly</a> three days travel time for the Vinson.</span></p><p><span></span></p><p class="source"><span>Google Maps</span></p>"The president said that we have an armada going toward the peninsula," White House Spokesman <a href="http://www.businessinsider.com/spicer-trump-uss-carl-vinson-north-korea-2017-4" target="_blank">Sean Spicer said at a press conference on Thursday</a>, referencing President Donald Trump's statement that he was sending an "armada" to North Korea."That's a fact. It happened. It is happening, rather."<p><span>While the US Navy told Business Insider that the Vinson would eventually head to the Korean peninsula, the confusion around the timing of events has led some to question the Trump administration's resolve.</span></p><p><span><span>South Korea's conservative candidate for its May presidential election, Hong Joon-pyo, </span><a href="https://www.wsj.com/articles/false-narrative-on-u-s-aircraft-carrier-elicits-jeers-in-asia-1492577625">told The Wall Street Journal</a><span> of the carrier mix-up: "What Mr. Trump said was very important for the national security of South Korea. If that was a lie, then during Trump's term, South Korea will not trust whatever Trump says."</span></span></p>            <h3>NOW WATCH: <a href="http://www.businessinsider.com/navy-seal-explains-how-to-escape-if-tied-up-handcuff-zip-ties-2017-3">A Navy SEAL explains how to escape if you've been tied up</a></h3>                                    Please enable Javascript to watch this video

The USS Carl Vinson is still nowhere near North Korea

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Good morning! Here's everything you need to know in the world of <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> today.</p><p><strong>1. <a href="http://uk.businessinsider.com/the-unprecedented-trend-of-media-agency-reviews-in-2015-2015-5?r=US">Around $25 billion in media money is currently up for grabs.</a></strong> So many big advertisers have called media agency reviews in recent months that it is being dubbed "Mediapalooza 2015."</p><p><strong>2. <a href="http://www.businessinsider.com/fifa-corruption-scandal-nike-and-the-brazilian-national-football-team-2015-5">The story of Nike, the Brazilian national football team and $40 million paid into a Swiss bank account.</a></strong> It looks as though the sportswear company may have been dragged into the alleged FIFA corruption scandal. Nike denies any wrongdoing.</p><p><strong>3. <a href="http://www.businessinsider.com/women-buying-granny-panties-not-thongs-2015-5">A new trend in underwear could spell trouble for Victoria's Secret.</a></strong> Women are increasingly abandoning sexy underwear.</p><p><strong>4. <a href="http://www.thedrum.com/news/2015/05/30/emirates-becomes-new-fa-cup-sponsor">Emirates has become the new sponsor of the FA Cup.</a></strong> The deal will see England's domestic club football competition renamed The Emirates FA Cup from next season, The Drum reports.</p><p><strong>5. <a href="http://www.adweek.com/news/technology/bud-light-will-test-snapchats-age-gated-ads-apps-first-alcohol-brand-165080">Budweiser has become the first alcohol brand to advertise on Snapchat.</a></strong> The ads are age-gated so only users 21-years-old or older will see them, Adweek reports.</p><p><strong>6. <a href="http://uk.businessinsider.com/tons-of-kfc-customers-hate-the-new-tv-ad-2015-5?r=US">Tons of KFC customers hate the company's new TV ad.</a></strong> But KFC's CEO is thrilled.</p><p><strong>7. <a href="http://uk.businessinsider.com/abercrombie-goes-for-older-customer-2015-5?r=US">Abercrombie &amp; Fitch is giving up on teenagers.</a></strong> The brand didn't mention the word "teenager" or "teen" once during a recent earnings call with investors, instead it said it is working to attract a broader target market.</p><p><strong>8. <a href="http://www.businessinsider.com/a-look-at-the-massive-sponsor-contracts-that-fifa-could-lose-2015-5">Here's a look at the massive sponsor contracts FIFA could lose.</a></strong> Every one of FIFA's major sponsors has criticized world football's governing body, except for Russian energy giant Gazprom.</p><p><strong>9. <a href="http://adage.com/article/digital/brands-check-publishers-ad-viewability-math/298746/?utm_campaign=SocialFlow&amp;utm_source=Twitter&amp;utm_medium=Social">Kellogg has dialed down its ad spend on Google's properties, including YouTube.</a></strong> According to AdAge, the food company is reducing spend due to Google's restrictions on using third-party measurement tools.</p><p><strong>10. <a href="http://www.wsj.com/articles/tech-firms-pull-talent-away-from-ad-agencies-1432985402">Tech firms are pulling top talent away from ad agencies.</a></strong> The Wall Street Journal reports on how creatives are being lured away from adland by the flexibility of startup culture.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/google-cardboard-virtual-reality-headset-2015-5">We built a knockoff of Oculus Rift for $25</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="50dHhhcDpHWH6T8wDwF1J9vwbqrYtzrP" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

10 things in advertising you need to know today

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>A <a href="https://drive.google.com/file/d/0Byj_1ybuSGp_NmYtRF95VTJTeUk/view" target="_blank">recent report</a> from <a href="http://www.propornot.com/p/home.html" target="_blank">PropOrNot</a>,&#xa0;<span>a nonpartisan group&#xa0;of foreign policy, military, and technology researchers, provides evidence that 200 distinct websites, Facebook groups, and Youtube channels have been spreading baseless Russian propaganda to at least 15 million Americans.<br /></span><p><span>The report draws on a wealth of reports from a wide variety of media outlets that explored the "fake news" and conspiracy theory-driven reports that flooded newsfeeds around the US during the election cycle to identify which sites merely post dishonest stories for ad revenues, and which sites actively parrot Russian propaganda.</span></p><p><span>PropOrNot found convincing ties between ZeroHedge, a popular finance blog, and Russian and Iranian state-controlled propaganda outlets. </span></p><p><span>The report examined the top referrers to ZeroHedge and analytics that suggest ZeroHedge's administrators also operate a doomsday prepper's website which is lousy with disinformation. These findings are consistent with the </span>European Union's East Strategic Communications Task Force, which works to combat Kremlin propaganda.</p><p>By simply googling excerpts from Russian state-run media outlets, the report finds a myriad of sites that parrot the Kremlin's propaganda verbatim, often weaving the disinformation in with larger conspiracy theories.</p><p>One example of obviously false information making the rounds in the Russian-aligned web comes from Canadian journalist <a href="https://twitter.com/ItsBorys" target="_blank">Christian Borys</a>, who posted photos&#xa0;US F/A-18s painted like Russian jets for a training exercise. In this tweet, Borys makes it clear that this practice is "standard training" procedure, so US pilots can better simulate combat against potential foes in Russian-made jets.</p><p><div></div></p><p>The innocent tweet got picked up by Russian-aligned blogs and Youtube channels with outrageous headlines suggesting the US painted these jets to bomb civilians in Syria and then blame Russia.&#xa0;</p><p>Numerous blogs and Youtube accounts ran headlines like "!!BOOM!! USA Caught Repainting Fighter Jets to RUSSIAN COLORS!!!" or "IS OBAMA PLANNING DRASTIC 'FALSE FLAG' ATTACK IN SYRIA?"</p><p>Borys tried to refute the story with the facts surrounding the picture, but sites like RT continued to print the rumor even after the famous fact checker Snopes addressed the story and named it patently false.</p><p>Similar stories, about <a href="http://www.businessinsider.com/r-clinton-says-conspiracy-theories-about-her-health-not-a-concern-2016-9" target="_blank">Hillary Clinton's health</a> for example, have made their way around the internet thanks to the power of Russian-run and Russian-aligned media.&#xa0;</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/us-aircraft-carriers-2016-11">This is why a US aircraft carrier is a force to be reckoned with</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="RvN3RzeDr0axqwLkJJdQi0Q8RjiLegPA" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

REPORT: Hundreds of popular websites deliver Russian propaganda to 15 million Americans

<p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>One billion Yahoo accounts were stolen in 2013, <a href="http://uk.businessinsider.com/yahoo-data-breach-billion-accounts-2016-12">the company announced on Wednesday</a>, in the largest (known) hack of all time.<p>The incident is separate to the breach Yahoo disclosed back in September, which saw at least 500 million accounts compromised.</p><p>In other words, Yahoo got hacked twice - badly.</p><p>The company isn't providing many details about the breach, because right now, it doesn't know them. "The company has not been able to identify the intrusion associated with this theft," <a href="https://investor.yahoo.net/ReleaseDetail.cfm?&amp;ReleaseID=1004285">it said in a statement</a>.</p><p>The company has emailed its users informing them of the breach - and if you're affected you're probably asking yourself what you can do now.</p><p>There are two answers: Protect your logins on other services, and delete your account.</p><h2>1. Protecting your logins</h2><p>It can't be said enough: You should use a strong, unique password for every website or service you have an account on. This means if any one service gets hacked, then your other accounts won't be compromised too.</p><p>Hackers will often trawl through user databases stolen in hacks, and try the stolen login details on other sites. This means if use a site that got hacked, and they got hold of your password, then you can be re-victimised over and over and over again.</p><p></p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>This summer, we saw a spate of hacks of celebrities and high-profile figures on Twitter - everyone from Drake to Facebook CEO Mark Zuckerberg. Twitter itself wasn't hacked, but it looks like the victims re-used passwords on services that <em>were</em>, like LinkedIn and Tumblr.<p>So if you re-used the same password you used for your Yahoo account anywhere else, you should go ahead and change those accounts. Now.</p><p>Of course, passwords - especially strong ones - are a pain to remember. And that's why security experts recommend you use a password manager app to store them. <a href="https://www.wired.com/2016/01/you-need-a-password-manager/">An app like LastPass or Dashlane will store all your passwords</a>, so you only have to remember one - the one to access the app.</p><p>Also: If it's available, activate two-factor authentication (2FA). It creates a second barrier to entry by sending a unique code to your phone, so even if an account's password is compromised, the attacker still can't get in unless they also have access to your phone (although <a href="http://uk.businessinsider.com/hackers-are-spoofing-text-messages-to-steal-two-factor-authentication-codes-2016-6">there are some devious ways hackers try to get around it</a>). It is available on Google, Facebook, Twitter, and most other major web services.</p><p>On a long enough timeframe, <em>everyone</em> gets hacked. But by having unique passwords and 2FA, you can limit the damage.</p><p><div></div></p><h2>2. Delete your account</h2><p>Do you own a&#xa0;Flickr page you never use? A Tumblr you haven't checked since 2014? A Yahoo Mail account you haven't sent an email from in over a decade? It might be time to pull the plug, permanently.</p><p>First of all, back up your data! You don't want to lose old emails and photos. Luckily, <a href="https://help.yahoo.com/kb/download-save-info-lose-good-sln15129.html">Yahoo has put together an easy-to-follow walkthrough on how to do that here</a>. (Important note: This includes all your Flickr photos.)</p><p>Done that? Great. Now head over to the "<a href="https://edit.yahoo.com/config/delete_user">Delete Your Account</a>" page. It should look like this.</p><p></p><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div><p></p></div></div><p>It'll ask you to enter your password, and to do a Captcha, to prove who you are - and just like that, you're done.</p><p>Once you confirm you want to delete your account, it'll take about 90 days to process. This is to stop people from maliciously or fraudulently deleting other people's accounts if they gain access - and it means if you get cold feet straight after, it's not too late.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-boeing-747-front-hump-2016-11">Here's why Boeing 747s have a giant hump in the front</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="R2MzB4NzE6hRFSPA2cSqhAa_n82nXq-Y" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

1 billion Yahoo accounts have been stolen in the biggest hack ever - here's what you should do

<p>Reporting on big names coming and going is always a huge part of covering Wall Street. And this week, the news was mostly about exits. </p><p>Dakin Campbell was busy breaking news on fresh Goldman Sachs departures. <a href="https://www.businessinsider.com/goldman-sachs-partner-sumit-rajpal-announces-his-retirement-2020-2">Sumit Rajpal and Andrew Wolff, two of three coheads of a merged alternative-investing unit created by CEO David Solomon last year, are retiring.</a> Rajpal and Wolff were slated to be lead investors for Goldman's eighth private-equity fund, which will kick off fundraising next week. <a href="https://www.businessinsider.com/full-goldman-memo-annoucing-exits-of-sumit-rajpal-and-andrew-wolff-2020-2">Here's the memo Goldman's top brass sent to staff on Friday about the exits. </a></p><p>Adam Korn, a chief architect of Goldman's Marquee institutional trading platform, is retiring after nine years as a partner. <a href="https://www.businessinsider.com/goldman-sachs-technology-exec-adam-korn-retirement-memo-2020-2">You can read the full memo about his departure here.</a> And Rana Yared, a Goldman partner overseeing more than $2 billion in principal investments, <a href="https://www.businessinsider.com/goldman-sachs-partner-rana-yared-to-join-balderton-capital-2020-2">is heading to a leading European VC firm</a> that was an early backer of digital bank Revolut. </p><p>As Alex Morrell and Trista Kelly reported, <a href="https://www.businessinsider.com/credit-suisse-overhauling-banker-bonus-pay-adding-clawback-penalty-2020-2">Credit Suisse is overhauling bonuses for investment banking and capital markets.</a> The firm on Wednesday finalized a new comp plan, including requiring the cash portion of bonuses to be paid in the form of an "upfront cash award" with stiff clawback provisions. And that was right before the bombshell announcement that CEO <a href="https://www.businessinsider.com/credit-suisse-ceo-tidjane-thiam-steps-down-after-spying-scandal-2020-2?r=US&amp;IR=T">Tidjane Thiam is out</a> following a spying scandal. </p><p>Charles Schwab execs gave a 4-1/2-hour business update, and Rebecca Ungarino broke out they key takeaways, <a href="https://www.businessinsider.com/charles-schwab-execs-on-td-ameritrade-digital-strategy-competition-2020-2">including how the discount broker is prepping for its planned mega-buy of TD Ameritrade, and why it's making "distasteful" cash offers to win clients.</a> One slide from <a href="https://www.businessinsider.com/meet-charles-schwab-coo-joe-martinetto-leading-td-ameritrade-integration-2019-12">COO Joe Martinetto</a> laid out where Schwab will find up to $2 billion in savings - and flagged "geographic footprint rationalization" and "workforce overlap." That sounds a lot like shuttering branches and cutting jobs, and we already happened to be mapping the overlap for the two firms  - <a href="https://www.businessinsider.com/charles-schwab-and-td-ameritrade-us-branch-maps-overlaps-2019-12">you can take a look at the brand-new graphic here</a>. </p><p>We also like to hear from insiders about what it takes to be successful in the beats we cover. Alex Nicoll talked to real estate experts to compile a <a href="https://www.businessinsider.com/15-podcast-recommendations-from-real-estate-insiders-2020-2">list of 15 podcasts they listen to for practical advice and incisive commentary on the industry.</a> </p><p>Rebecca put <a href="https://www.businessinsider.com/morgan-stanley-ubs-merrill-lynch-financial-adviser-training-overview-2020-1">together the ultimate guide to FA development programs</a> at Morgan Stanley, UBS, and Merrill Lynch, including how their interview process works and what to expect from the intense multi-year programs once you join. </p><p>And as Bradley Saacks reported, billionaire Citadel founder <a href="https://www.businessinsider.com/ken-griffin-modeled-citadel-after-old-school-goldman-2020-2">Ken Griffin thinks that corporate culture is not pushing people hard enough these days</a>. Leaders "don't happen because you work 9-to-5 and then have a great weekend," he said in a chat with Goldman President John Waldron at the Economic Club of New York.</p><p>Still, you don't need to join the three-comma club to enjoy life's finer things. Shannen Balogh rounded up 14 startups that are <a href="https://www.businessinsider.com/14-startups-are-trying-to-get-consumers-to-rent-instead-of-buy-2020-2">rethinking the buying mentality by offering rentals on everything from boats to Cartier jewelry</a>, and the VCs betting that you're perfectly happy renting.</p><p>Long reads to follow, as well as a roundup of other must-know headlines. </p><p>Have a great weekend!<br /><br /></p><p>Meredith</p><h3>WeWork's board shakeup sees 3 longtime directors depart. Another is leaving in April, and the company is adding its first female board member.</h3><p>WeWork's board of directors is seeing a major shakeup that includes three departures and the appointment of the first female member.</p><p>SoftBank's Ron Fisher, Rhône Group's Steve Langman, and former Goldman Sachs vice chairman Mark Schwartz are all off the board, a source with knowledge of the changes said. Former Coach chairman and CEO Lew Frankfurt plans to leave when SoftBank's tender offer is complete, which is set for the beginning of April. </p><p>The board changes come as part of a planned board director refresh stemming from SoftBank's October deal to rescue WeWork.</p><p><strong><a href="https://www.businessinsider.com/weworks-board-shakeup-3-departures-first-woman-director-2020-2">READ THE FULL STORY HERE</a></strong></p><h3>Two Sigma's private-equity arm is building out a data team run by a former Google engineer - it's a big move that shows how PE is finally turning to data and AI to boost returns</h3><p>Two Sigma's private-equity arm has plans to hire to build out its data capabilities, recruiting engineers, and data scientists to help provide insights to investment professionals and portfolio companies, Business Insider has learned. </p><p>Private-equity executives are increasingly considering artificial intelligence and alternative data in their investment decisions, according to a recent report from Ernst &amp; Young.</p><p>In May, Two Sigma hired Patrick Leung, a former top Google engineer, who is a leader driving the private-equity data charge.</p><p><strong><a href="https://www.businessinsider.com/how-private-equity-firms-are-adding-data-and-ai-to-investment-process-2020-1">READ THE FULL STORY HERE</a></strong></p><h3>UBS is restricting employees' travel in China and implementing a work-from-home policy as the coronavirus has spread</h3><p>UBS is restricting employees' non-essential travel to, from, and within China amid the <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1">Wuhan coronavirus outbreak</a>, according to a person familiar with the firm's policy.</p><p>The Swiss bank has also implemented a work-from-home policy for any staff globally who have traveled to Hubei Province, where Wuhan is located, the person said. <a href="https://www.businessinsider.com/category/ubs">UBS</a> is requesting that staffers who have traveled there, or have been in contact with someone who has the virus, to work from home for two weeks from their return date.</p><p>UBS has a sizeable presence across the Asia Pacific. In its flagship <a href="https://www.businessinsider.com/category/wealth-management">wealth management</a> business, some 1,000 of its 10,000 financial advisers are based in the wider Asia Pacific region. </p><p><strong><a href="https://www.businessinsider.com/ubs-restricting-employees-travel-in-from-china-amid-wuhan-coronavirus-2020-2">READ THE FULL STORY HERE</a></strong></p><h3>Payments giants like PayPal and Amex are helping transform how we shop with bets on startups like Klarna, Rent the Runway, and Instacart. Here's what they're investing in and why.</h3><p>Financial services corporate venture capital (CVC) funding has been on the rise, with 2017's total $3 billion in funding tripling to more than $9 billion in 2019, <a href="https://www.cbinsights.com/research/report/financial-corporate-venture-capital-trends-2019/">according to CB Insights</a>.</p><p>And big payments companies have been busy making bets on fintech unicorns like Stripe and Plaid (<a href="https://www.businessinsider.com/visa-ceo-mentions-wall-streets-concerns-over-plaid-2020-1">which Visa now plans to buy for $5.3 billion.</a>)</p><p>We talked to execs at the corporate venture arms of payments companies Amex, Mastercard, PayPal, and Visa to learn more about their investing strategies.</p><p><strong><a href="https://www.businessinsider.com/biggest-strategic-investments-from-payments-companies-like-paypal-and-amex-2020-2">READ THE FULL STORY HERE</a></strong></p><h3>Wall Street's battle for data-science talent has gone next-level as Silicon Valley makes more East Coast hires and other industries get hip to data - here's how firms are fighting back</h3><p>With WeWork's high-profile meltdown in 2019 and sagging share prices for companies like Uber and Lyft, we were curious if things had gotten any easier when it comes to the battle for recruiting and keeping tech talent. </p><p>Turns out, hedge funds are still feeling pressure from Silicon Valley darlings, which are growing their presence on the East Coast, as well as other industries who are beginning to realize the value of crunching their own data.</p><p>At some funds, like Point72, data scientists are so in-demand that some even have longer non-compete periods than the portfolio managers making the investments. </p><p><strong><a href="https://www.businessinsider.com/top-data-science-still-fight-for-wall-street-hedge-funds-2020-2">READ THE FULL STORY HERE</a></strong></p><h3>A memo from Goldman Sachs' co-CIO laid out plans for a global financial cloud for customers that could be 'transformational to the firm's business for decades to come'</h3><p>Marco Argenti, Goldman Sachs' co-chief information officer, sent a memo seen by Business Insider detailing the opportunity he sees for the bank to create a financial cloud.</p><p>Argenti, who spent six years at Amazon Web Services before joining Goldman in October, believes building out a cloud specifically for financial companies could be "transformational to the firm's business for decades to come."</p><p>IBM announced similar intentions in November with the launch of its own public cloud focused on Wall Street.</p><p><strong><a href="https://www.businessinsider.com/goldman-sachs-memo-discusses-plans-for-financial-cloud-2020-2">READ THE FULL MEMO HERE</a></strong></p><h3>Investors paying hefty fees are frustrated that some big-name hedge funds are just sitting on piles of cash instead of making bets</h3><p>Hedge-fund investors looking for diversification and uncorrelated returns are frustrated by the large piles of cash not being put to use.</p><p>Seth Klarman said in his annual letter that, in accordance with <a href="https://www.businessinsider.com/billionaire-baupost-founder-seth-klarmans-letter-slams-trump-2020-1">his strict value investing ethos</a>, he sold out of "situations where the price has come to more fully reflect underlying value," to bring his portfolio's cash holdings to 31% at the end of the year. And last year, Canyon Partners <a href="https://www.businessinsider.com/canyon-partners-realization-value-fund-has-loaded-up-on-cash-2019-6">told investors</a> it had shifted nearly a fifth of the portfolio into cash despite holding no cash 12 month prior. </p><p>"We have a limited tolerance for managers that don't run sufficient risk," said Jens Foehrenbach, CIO of Man FRM, the fund-of-funds run by Man Group. </p><p><strong><a href="https://www.businessinsider.com/investors-arent-happy-with-big-name-managers-decision-hoard-cash-2020-2">READ THE FULL STORY HERE</a></strong></p><h2><strong>Wealth and investing</strong></h2><ul><li><a href="https://www.businessinsider.com/billionaire-citadel-founder-ken-griffin-says-europe-left-us-tech-2020-2">Billionaire Citadel founder Ken Griffin says the US has a 'false sense of security' about being the world's tech powerhouse and that the ban on China's Huawei will be a 'real setback'</a></li><li><a href="https://www.businessinsider.com/ally-financial-exploring-hybrid-adviser-new-wealth-products-2020-2">Ally Financial is 'looking closely' at adding human wealth advice for its digital bank's richer customers</a></li><li><a href="https://www.businessinsider.com/bill-ackmans-pershing-square-sold-its-starbucks-adp-stakes-2020-2">Billionaire Bill Ackman's Pershing Square just exited its positions in Starbucks and ADP with big gains, a new investor presentation reveals</a></li><li><a href="https://www.businessinsider.com/clint-carlsons-stock-picking-fund-lost-20-in-january-2020-2020-2">Carlson Capital's stock-picking fund drops more than 20% in a disastrous January</a></li><li><a href="https://www.businessinsider.com/greg-fleming-rockefeller-capital-management-hires-dc-wirehouse-adviser-talent-2020-2">Greg Fleming's Rockefeller Capital is building up its Washington presence by luring junior talent and veteran advisers from the biggest wealth managers</a></li><li><a href="https://www.businessinsider.com/avenue-capitals-founder-marc-lasry-says-milwaukee-bucks-top-investment-2020-2">Billionaire Avenue Capital founder Marc Lasry says the decision to pay hundreds of millions to buy the Milwaukee Bucks 6 years ago was 'the best investment I've ever made'</a></li><li><a href="https://www.businessinsider.com/maverick-founder-lee-ainslie-warns-about-national-debt-the-environment-2020-2">Billionaire hedge-fund founder Lee Ainslie is worried his generation is going to be remembered as 'the generation of greed'</a></li><li><a href="https://www.businessinsider.com/tips-for-new-financial-advisers-wirehouses-merrill-wells-2020-1">Up-and-coming financial advisers explain how to use your network to land clients as a newbie and stand out in a fiercely competitive field</a></li><li><a href="https://www.businessinsider.com/boston-properties-ceo-predicts-bloomberg-will-be-the-next-president-2020-1">The CEO of one of the biggest US office-space owners answered a rapid-fire Q&amp;A with a prediction that Bloomberg will be president</a></li></ul><h2><strong>Fintech and proptech</strong></h2><ul><li><a href="https://www.businessinsider.com/plaids-ceo-discusses-building-controls-around-customer-data-2020-2">$5.3 billion fintech Plaid is in the middle of a high-stakes fight over customer data. Its CEO told us why the startup wants to give users control.</a></li><li><a href="https://www.businessinsider.com/softbank-backed-small-business-lender-kabbage-launching-short-term-loans-2020-2">The cofounder of SoftBank-backed Kabbage explains how the small business lending startup is using payments data to get into short-term loans</a></li><li><a href="https://www.businessinsider.com/finix-raises-series-b-sequoia-payments-infrastructure-fintech-2020-2">A startup aimed at disrupting payments and taking on Square and Stripe just raised a $35 million Series B led by Sequoia Capital</a></li><li><a href="https://www.businessinsider.com/goldman-sachs-and-amazon-lending-partnership-analysis-2020-2">Goldman Sachs is making it easier to plug its services into other tech platforms like Amazon or Apple's iPhone - here's why one expert thinks that's a 'fundamental change' in retail banking</a></li><li><a href="https://www.businessinsider.com/metaprop-accelerators-demo-day-showcases-five-early-stage-startups-2020-2">We watched 5 early-stage startups demo their next big ideas for blending tech and real estate, and it shows where the buzzy space is heading</a></li><li><a href="https://www.businessinsider.com/goldman-sachs-bloomberg-data-partnership-shows-wall-street-opening-up-2020-2">We talked to the execs behind Bloomberg's new data partnership with Goldman Sachs. Here's why they think it's a sign of Wall Street's future.</a></li></ul>

A slew of Goldman Sachs exits; Credit Suisse bonus clawbacks; WeWork's board shakeup

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Good morning. Here's everything you need to know in the world of <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> today.</p><p><strong>1. <a href="http://www.businessinsider.com/emirates-to-sponsor-fa-cup-2015-4">The FA Cup could be re-named "The Emirates FA Cup," according to a report from The Daily Mail.</a></strong> English football's annual knockout competition has been without a title sponsor this season, but could be about to sign a £30 million ($46 million) deal with the Dubai-based airline.</p><p><strong>2. <a href="http://www.businessinsider.com/twitter-earnings-q1-2015-2015-4">Twitter's stock got battered on Tuesday.</a></strong> Investors reacted to a nightmare scenario in which its revenue forecast came well below Wall Street expectations and its earnings leaked more than 30 minutes early.</p><p><strong>3. <a href="http://www.businessinsider.com/twitter-google-partnership-2015-4">Twitter had two advertising announcements on Tuesday.</a></strong> It announced that advertisers wil now be able to buy sponsored tweets through Google's DoubleClick ad exchange, and it has acquired marketing tech company TellApart.</p><p><strong>4. <a href="http://www.businessinsider.com/mcdonalds-cuts-7-sandwiches-2015-4">McDonald's just cut seven sandwiches from the menu.</a></strong> Critics say the bloated menu has dramatically slowed down customer service.</p><p><strong>5. <a href="http://www.businessinsider.com/bud-light-tagline-accused-of-promoting-rape-2015-4">Bud Light's latest tagline backfired badly, and people accused the brand of promoting rape.</a></strong> Bud Light's owner has since apologized for its "The perfect beer for removing 'no' from your vocabulary for the night" label on the beer's packaging.</p><p><strong>6. <a href="http://www.businessinsider.com/benedict-evans-apple-versus-google-2015-4">An analyst explained why Apple doesn't need to care about Android, despite the latter company's OS outpacing iOS in market share.</a></strong> Benedict Evans, partner at Andreessen Horowitz, showed a chart that demonstrates you can say either company is winning the mobile race, depending on which metrics you use.</p><p><strong>7. <a href="http://www.businessinsider.com/wpp-ceo-sir-martin-sorrell-on-netflix-2015-4">Netflix "will have to raise its subscription prices" or explore advertising if it wants to generate meaningful profits.</a></strong> That is the opinion of WPP CEO Sir Martin Sorrell, who was speaking at the FT Digital Media conference on Tuesday.</p><p><strong>8. <a href="http://www.businessinsider.com/amazon-makes-e-books-into-adverts-2015-4">Amazon has started helping brands make ads from Kindle e-books.</a></strong> It has worked with automakers including Land Rover and Nissan to help them with content marketing to promote their brands through Amazon, despite the fact that they don't sell their cars through the site.</p><p><strong>9. <a href="http://www.businessinsider.com/victorias-secret-names-10-new-angels-2015-4">Meet the 10 new Victoria's Secret "Angels."</a></strong> They will help make the brand billions of dollars this year. </p><p><strong>10. <a href="http://www.businessinsider.com/twitter-and-facebook-boost-uk-electorate-2015-4">It looks like Twitter helped increase the amount of people registered to vote in the UK.</a></strong> And the company claims some 34% of young people say Twitter changed their mind on which party to vote for.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/surprising-subliminal-sex-messages-ads-2015-4">5 subliminal sex messages hidden in ads for wholesome brands</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="U0bjIwbDp8myHrSr85ETgy0OyTDvG9UO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The 10 things in advertising you need to know today

<p><em><strong><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Reuters/Stephen Lam</span></p></div><p></p></div></div>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.</strong></em></p><p><strong><a href="http://wealthmanagement.com/estate-planning/advisor-s-guide-holiday-conversations#slide-0-field_images-1042121">Advisors should encourage their clients to talk about the ugly stuff during the holidays</a> (Wealth Management)</strong></p><p><span>It's a good idea to encourage </span>clients to capitalize on holiday get-togethers and address some of the tougher financial, security, and legal issues regarding familial affairs.</p><p>There are several key things that advisors should recommend clients think about such as finding the will(s), locating disability and life insurance policies, figuring out what family members want done with their bodies after they die (and figuring out whether they have purchased these things in advance), and finding where people keep important password information.</p><p><strong>Here are 5 financial New Years resolutions for this year (The Eppy Group)</strong></p><p>People should take some time to think about their financial New Years resolutions this year. Joe Eppy, president of The Eppy Group, suggests that there are five important things to consider:</p><p>1) Folks should set goals with measurable results. 2) They should plan ahead to better manage finances, and consider using apps to keep track. 3) They should remember to review their credit. 4) People should sit down at the end of every month and review their bank and credit statements. 5) They should meet with a real financial advisor to help with long-term planning because "Googling and reading blogs just simply doesn't cut it when your financial future is at stake," according to Eppy. </p><p><strong><a href="http://www.thinkadvisor.com/2015/12/01/how-financially-smart-are-americans?t=the-client?ref=channel-more-news">The US falls a bit flat when it comes to financial literacy</a> (Think Advisor)</strong></p><p>The US ranked 14th out of the 140 countries surveyed in terms of financial literacy with a rate of 57%, according to a new survey by the S&amp;P. By comparison, Norway's rate was at 71%, Israel was at 68%, and <span>the UK's was at 67%.</span></p><p>"<span>Americans with less education and lower incomes have lower financial literacy levels than their counterparts in other wealthy countries</span><span>," reports Emily Zulz. Additionally<span>, "<span>62% of men in the US are financially literate, compared with 52% of women</span>."</span></span></p><p><strong><a href="http://www.advisorperspectives.com/commentaries/20151202-pimco-plodding-along-a-discussion-of-today-s-global-economy">The mild growth is hiding things in the global economy</a> (Advisor Perspectives)</strong></p><p><span>"<span>Global growth in a range of 2.5%-3% is not particularly inspiring, but it is what we expect for at least well into next year, and more broadly it is what we have come to expect in a New Neutral world of overall lower trend growth rates,</span>" said Richard Clarida of PIMCO. </span></p><p><span>But, notably, "<span>that lackluster average growth disguises some interesting divergences in the global economy. In the US, eurozone, UK, and potentially Japan, we expect growth rates above trend, even as China and other major emerging economies slow down. This is indeed a multi-speed world," he added.</span><span><br /></span></span></p><p><strong><a href="http://www.fa-mag.com/news/house-united-in-opposition-to-sec-e-mail-seizures--conyers-says-24076.html?section=43">A bill that would prevent the SEC from seizing emails without a criminal warrant has wide support in the House</a> (Financial Advisor</strong> <strong>Magazine)</strong></p><p>"<span>A House bill that SEC Enforcement Director Andrew Ceresney claims would hinder investigations has widespread bipartisan support</span><span>," reports Ted Knutson. "<span>The bill would prevent federal agencies from obtaining e-mails from Internet service providers without a criminal search warrant, which could hinder the SEC investigations because the agency has no police powers.</span><span>"</span></span></p><p><span><span>John Conyers, the lead Democrat on the House Judiciary Committee, said that the bill has over 300 co-sponsors out of the 435 House members.</span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/fly-air-koryo-north-korea-2015-11">What it's like to fly on North Korea's one-star airline</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="FtcGR3eDokiY0HntoqP5bNF7bNXqsXmv" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Advisors should encourage their clients to talk about the ugly stuff during the holidays

<p><strong><strong><strong><strong><em><strong>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.</strong></em></strong></strong></strong></strong></p>
<p><strong><strong><strong><strong><strong><a href="http://blogs.barrons.com/penta/2013/01/17/washington-weighing-on-rich/?mod=BOLBlog">Washington Weighing On The Rich</a> (Barron's)</strong></strong></strong></strong></strong></p>
<p>A UBS survey of 2,056 investors of whom 50 percent have $1 million or more in investible assets found that 76 percent are "extremely or very worried” about the political stalemate in Washington. Mike Ryan, chief investment strategist of UBS Wealth Management Americas writes that political dysfunction "has made investors more pragmatic. I would argue they’re not euphoric, but they’re not despondent.”<em> <br /></em></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"><strong><a href="http://advisorperspectives.com/newsletters13/Five_Key_Marketing_Trends_for_Advisors_in_2013.php">5 Key Marketing Trends For Advisors In 2013</a> (Advisor Perspectives)</strong></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;">Kristen Luke says there are 5 key ways in which reaching new clients. 1) Mobile-friendly marketing - More Americans are expected to access the internet through mobile devices than PCs by 2015 and advisors should look for more ways to market through mobile apps. 2) Video marketing is gaining popularity 3) Personalization - Little things like personalized bios, trading in stock photos for actual photos of their office and staff on the web, being able to customize content based on the location of customers 4) TED-style presentations - shorter presentations with more digestible bites 5) Social SEO - Use social media like Google Plus since Google has launched author ranking.<strong style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"><br /></strong></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"><strong><a href="http://www.businessinsider.com/the-market-rally-is-based-on-four-dubious-assumptions-2013-1">The Market Rally Is Based On Four Dubious Assumptions</a> (Comstock Partners)</strong></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;">Despite the problems to the U.S. economy, weak global growth, and dysfunctional politics stocks continue to rally on four assumptions. First, markets can't go down as global central banks continue to ease. Second, markets didn't take a huge hit over previous political threats, and they shouldn't this time either. Third, "S&amp;P 500 earnings will rise to $108 in 2013, resulting in a current P/E multiple of only 13.7." Fourth, the economic recovery will resume once problems in Washington are solved or kicked down the road.</p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;">"The cyclical bull market is now almost four years old and is close to the historical average in terms of both amplitude and duration.  At this point it is out of sync with economic growth and valuation, and the risks seem far greater than the potential rewards."</p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"><strong><a href="http://www.businessinsider.com/presenting-the-biggest-divide-on-wall-street-2013-1">The Biggest Divide On Wall Street</a> (Barry Ritholtz)</strong></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;">These two charts show that there is a record level of stock market bearishness among sell-side analysts, but that portfolio managers are more bullish than they have been in quite some time.</p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"><div class="image-container" style="width:548px"><div class="image"></div><p class="source"><a href="http://www.ritholtz.com/blog/2013/01/sell-side-indicator-2/">BofA/ML</a></p></div></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"> </p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"><div class="image-container" style="width:548px"><div class="image"></div><p class="source">Bank of America</p></div></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none; padding-left: 30px;"> </p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"><strong><a href="http://www.businessinsider.com/dave-lowell-interview-2013-1">The Greatest Explorer In The World Says The Commodities Super-Cycle Is Still Intact</a> (CEO.ca)</strong></p>
<p style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;">Many have argued that the commodities supercycle has come to an end. Dave Lowell, often considered the most successful mining explorationist, doesn't believe that is the case.</p>
<p>"The commodities super-cycle is in tact, Lowell believes. There’s elasticity in mining companies’ profit margins, he told us, but not in the demand for the underlying commodities they produce. For that reason, large, undeveloped, low grade copper deposits will need to be put into production, sooner than later."</p>

FINANCIAL ADVISOR INSIGHTS: Political Dysfunction Has Made Investors More Practical

<p><strong>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.</strong></p>
<p><strong><a href="http://blogs.wsj.com/moneybeat/2013/10/17/godfather-of-charts-comfortable-being-bullish-again/">'The Godfather Of Charts' Is Back On The Bull</a> (WSJ)</strong></p>
<p>Ralph Acampora, widely considered the "godfather of technical analysis," is canceling the bearish call he made earlier this summer, after stock indices hit new highs, <a href="http://blogs.wsj.com/moneybeat/2013/10/17/godfather-of-charts-comfortable-being-bullish-again/">WSJ's Tomi Kilgore reports</a>. " 'You have to have discipline," he said. "As ugly as the Dow [Industrials] got, it didn't break down. That said to me: Ralph, back off." </p>
<p><strong><a href="http://www.thereformedbroker.com/2013/10/18/okay-now-its-99/">It Feels Like 1999 - Is This Time Different?</a> (Josh Brown)</strong></p>
<p>With stock indices at all-time high and tech stocks breaking four figures, one is apt to start thinking the market is getting ahead of itself, like it did in 1999. Josh Brown says that on the surface, this time looks different. "<span>Stocks like Facebook and Google are going bananas but they are insanely profitable companies with billions and billions in real business. Priceline isn't Webvan. Salesforce.com isn't </span><a href="http://en.wikipedia.org/wiki/Commerce_One" target="_blank">Commerce One</a><span>." Still, he can't help shake the trauma of that infamous year. "<span>So far, the </span><a href="http://www.thereformedbroker.com/2013/10/16/rocket-fuel/" target="_blank">Rocket Fuel Hypothesis</a><span> looks correct, but it seems too easy. Are we pulling forward the entire Santa Claus rally into October? Too much, too soon?"</span></span></p>
<p><span><span><a href="http://nymag.com/daily/intelligencer/2013/10/silicon-valleys-dysfunction-fetish.html"><strong>The Market Went Up During The Shutdown Because Washington Is Not In Silicon Valley</strong></a> <strong>(NYMag)</strong></span></span></p>
<p>Between Oct. 1 and Oct. 16 the Dow climbed 1.2%. Venture Capitalist Chamath Palihapitiya says that's because the world capital of wealth creation is no longer in New York, and definitely not in DC, but in Silicon Valley. As he told a recent conference: "We are becoming the eminent vehicles for change and influence, and capital structures that matter. If companies shut down, the stock market would collapse. If the government shuts down, nothing happens and we all move on, because it just doesn't matter. Stasis in the government is actually good for all of us. It means they can neither do anything semi-useful nor anything really stupid. They just sit there and they just kind of, you know ...[APPLAUSE]"</p>
<p><strong><a href="http://finance.yahoo.com/blogs/michael-santoli/vulture-bait-four-stocks-could-draw-activist-investors-134253053.html">The New Wall Street Parlor Game Is Picking Activist Targets</a> (Michael Santoli)</strong></p>
<p>2013 will go down as, among other things, the Year of the Activist Investor. Between Carl Icahn's market-moving Tweets and the saga of Bill Ackman, companies' fortunes have been transformed by lone wealthy individuals. Yahoo's Michael Santoli says the new parlor game on the Street is now figuring out which companies will get targeted next. "<span>This, in a sense, is the same as sifting for companies with a financial cushion, inefficient balance sheet, lagging margins, sputtering strategies or disparate businesses that might be spun off. So, even if no activist emerges, the stocks are usually conservatively valued, with low investor expectations and room for fundamental improvement."</span></p>
<p><strong><a href="http://www.bloomberg.com/news/2013-10-15/trading-electra-reaching-400-billion-corporates-credit-markets.html">Bond Trading Is Going To The Bots</a> (Bloomberg)</strong></p>
<p><span>"<span>A record share of U.S. </span>corporate-bond trading<span> has moved to computers as buyers who traditionally transacted over the phone seek faster ways to buy and sell in a market where Wall Street's human traders are retreating" as their firms reduce holdings, Bloomberg's Lisa Abromowicz reports. The largest electronic bond-trading platform in the industry saw a YOY surge of 45% to $44 billion in September, and will end the year having processed<span> $400 billion-worth of volume. McKinsey estimates that by 2015, 30% of corporate bond trades will be made electronically.</span></span></span></p>

'Godfather Of Charts': The Market Refuses To Go Down So I'm Canceling My Bearish Call

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>News UK</span></p><p class="caption">Dominic Carter, News UK commercial managing director.</p></div><p></p></div></div><span>Rupert and Lachlan Murdoch were both at the News UK headquarters in London's "Baby Shard" at the same time this week. "You can just tell" when the moguls are there, one member of staff told us when we visited. People are scurrying around. The meeting rooms are all booked out. </span> </p><p>On the commercial team, the executives don't have to pretend to look busy. They genuinely are. News UK Commercial's managing director Dominic Carter sat down with Business Insider to talk about his plans and ambitions for the coming year - and there's a lot in the works. </p><p>The department has gone through an upheaval over the past few months. News UK Commercial managing director Paul Hayes left the company in 15 years in July, replaced by the department's commercial director, Carter.</p><p>He quickly set about reorganizing his divisions. It has been split into a sales division under sales director Karin Seymour, responsible for speaking to agency planners and clients, and a campaign management, solutions, and branded content team under Tiffanie Darke, who led the launch of <a href="http://www.thedrum.com/news/2014/09/18/news-uk-launch-native-advertising-arm-spearheaded-sunday-times-editor-tiffanie-darke">the company's in-house branded content studio Method</a> last year. The re-org has also seen some key departures, including <a href="http://www.thedrum.com/news/2015/09/28/nick-stringer-chief-creative-officer-news-uk-leaving-company-after-three-years">chief creative officer Nick Stringer</a>, and <a href="http://www.thedrum.com/news/2015/09/15/news-uk-s-abba-newbery-exits-director-strategy-commercial">director of strategy Abba Newbery</a>.</p><p>And then there's the none-too-small matter of Rebekah Brooks - the company's former chief executive back when it was called News International. She left in 2011 at the height of the News of the World phone-hacking scandal and <a href="http://www.businessinsider.com/news-uk-appoints-rebekah-brooks-as-ceo-2015-9">has returned to lead the business once again</a>. In fact, Carter gets called out halfway through our interview for an urgent chat with Brooks. Despite his packed schedule, he graciously adds 15 minutes to the end of our allotted time - making him late for a 10 a.m. meeting - to make up for it.</p><p>In the few months he's been in the role Carter has already been involved in a number of game-changing projects. The company - famed for being one of the first to trial a paywall, with The Times - began exploring new distribution methods and making more of its content free. News UK acquired Unruly Media. And he hints that there are more announcements coming in around a month's time.</p><h2>Advertisers may have 're-weighted' their media too far towards Facebook</h2><p>Carter also has a bolder ambition. He wants News UK and the wider newspaper industry to get better at proving its value to advertisers - marketers who are often tempted by the shiny new platforms, all competing for both eyeballs and revenue: Facebook, Google, Snapchat, Apple. Those are the kinds of companies the newspaper industry has learnt it has to work with (for distribution) and against (for ad revenue) in equal measure.</p><p>Spend on desktop internet ads eclipses that of newspapers.</p><p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>ZenithOptimedia</span></p></div><p></p></div></div></p><p>Some of that spend is with newspaper brands, of course, but internet giants dominate in terms of market share of digital ad revenues. News Corp UK and Ireland's annual accounts filed with Companies House don't split out digital revenues. The company reported turnover of £1.2 billion ($1.8 billion) for the year ended June 2014, down 3% on the prior year, and an operating loss of £3.5 million ($5.4 million) as the company spent more than £100 million on legal costs related to the phone hacking scandal and financing its new Management and Standard Committee.</p><p><div class="KonaFilter image-container display-table float_left"><div><div class="image"><p class="source"><span>eMarketer</span></p></div><p></p></div></div>Carter says he's "not about to destabilize Facebook" but that News UK and the rest of the newspaper industry needs to "be clear where we add value and tell that story better."</p><p>That might include providing dashboards (as the internet giants have done) so marketers can better attribute their <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> success, or producing more econometric research showing that newspaper advertising delivers a return on investment for advertisers. </p><p>"I think there's probably been a bigger shift of money to some of those [online] platforms than there needed to have been. But there will be a correction at some point. I'm not saying it will all tip back to newspapers, but it'll definitely change," Carter said.</p><p>Part of telling newspapers' story better will include shouting louder about the level of engagement consumers with its brands and content compared to those internet platforms. The company has attempted it before with its <a href="http://www.campaignlive.co.uk/article/news-uk-study-highlights-impact-times-ads-consumer-behaviour/1350365">Project Footprint research</a> that highlighted the correlation between what people read on The Times online and their consequent online behavior, but Carter said the industry needs to work together. It's hard for one newspaper to make a currency accepted by the entire market.</p><p>Carter said: "I talked to Facebook in the US and we asked the question about how long people spend on it every day. In North America it's about 45 minutes a day. And on how many occasions do they come to the site? It's about 40. You start to put that in context: If someone is reading The Sun for 30 minutes, The Times for 45 minutes, or on tablet for 40 minutes in one session. That's a large amount of time doing a singular thing and there has to be a value to that, rather than someone that's dipping in for two minutes at a time, and each time they come in they could be confronted with hundreds of new messages."</p><p>He continued: "Facebook works for advertisers for the most part, it's got cut-through, it's a fantastic, interesting business. Everyone talks about Facebook and it has a role to play just as every business has a role to play. But what [marketers have] probably done is re-weighted [their] media probably too far [Facebook's] way than I think they should have. If you're not trying new stuff, you're not moving forward. But then you find a way to rebalance. I think that's important with the complexity of media, and the choice of media, and with econometric modeling perhaps not as sophisticated as it needed to be. And there's a role newspapers can play in that attribution, more directly, and that's something we need to do as an industry."</p><h2>Breaking down the paywall</h2><p>News UK has also been "trying new stuff" of late. The company became one of the first to erect a digital paywall in 2010, for The Times and The Sunday Times, and <a href="http://www.businessinsider.com/the-sun-goes-behind-paywall-2013-3?IR=T">in 2013 The Sun's digital content went behind a paywall too.</a></p><p>The Times has 152,000 digital subscribers, The Sunday Times has 154,000 digital subscribers, and The Sun has 225,000 digital subscribers, <a href="http://uk.businessinsider.com/the-times-swings-back-into-profit-and-posts-digital-subscriber-uplift-2014-12?r=US&amp;IR=T">according to the most recent figures released by the company.</a></p><p>But since July, The Sun has experimented with lowering its paywall, <a href="http://www.theguardian.com/media/greenslade/2015/jul/08/the-sun-lowers-its-paywall-allowing-free-access-to-many-stories">allowing free access to some stories</a>. Carter says the paper has also been experimenting with producing content especially for social networks like Facebook, Twitter, and Instagram to test the audience appetite.</p><p>That appetite has been "good," according to Carter. And it's allowed News UK, <a href="http://recode.net/2015/09/16/this-week-on-recode-decode-ceo-jonah-peretti-explains-how-buzzfeed-won-the-internet/">like BuzzFeed has done</a>, to talk to advertisers about its "total audience number" as opposed to just the people who are visiting its websites and buying its newspaper.</p><p>News UK is a partner of Facebook's recently announced Instant Articles and it is looking at Apple News. It wasn't always that way. A year ago, the company's chief marketing officer Chris Duncan told Business Insider that publishers posting their articles direct to Facebook would be a <a href="http://www.businessinsider.com/news-uk-cmo-chris-duncan-on-facebook-mobile-publishing-2014-10">"tax on navigation" and a "tax on audience."</a></p><p>Carter says News UK was a "different business then."</p><p>"The culture of the business, and my department, has to be a lot more one of experimentation ... so therefore we need to look at all the opportunities to get our content out there to as many people as possible and to remain profitable. We need to be consumed by more people and to continue to grow in an experimental way," he added.</p><p>Carter said after its experimentation, News UK is still deciding what form The Sun's paywall will take in the future. Discussions are taking place right now as to whether to go free, or continue with the blended model.</p><h2>Partnership announcements to come?</h2><p>One of the ways The Sun attempted to encourage readers to pay for subscriptions was by obtaining exclusive rights to broadcast Premier League soccer highlights via its Sun Goals app. This has since extended to showing FA Cup and Champions League highlights too.</p><p>But that "exclusivity" has hit a snag with the rise of apps like Vine, where football fans post clips of goals sometimes moments after they are scored. Sometimes The Sun Goals app can take up to eight minutes before it broadcasts the same goal.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Getty Images</span></p><p class="caption">The Sun's digital subscription includes access to Premier League and FA Cup highlights.</p></div><p></p></div></div>It has been reported that The Sun paid £30 million ($46 million) for Premier League rights, with <a href="http://www.marketingweek.com/2013/12/06/news-uk-insists-the-suns-digital-strategy-is-paying-off/">analysts estimating The Sun's digital offering would need to attract around 300,000 digital subscribers to cover the costs and the reduction of display advertising in order to break even</a>. The Sun's former editor <a href="http://uk.businessinsider.com/the-sun-digital-paywal-subscribers-2014-11?r=US&amp;IR=T">David Dinsmore told Business Insider back in November that goals posted to Vine was an "issue"</a> and that Twitter, which owns the app," would "need to step up" in the area of rights protection.</p><p>That doesn't seem to have happened. We asked Carter what happens next.</p><p>He said: "We have the rights until the end of this season. Next season, we might have something different. But you have to remember, The Sun bundle wasn't just clip rights and the cost of content in isolation ... its Sun Perks benefits for families and individuals, it's clip rights, you look at it as a bundle, a combination of things. I think on one level it has worked. Has it done everything if you looked at it in isolation? You'd probably say it's done enough as part of a bundle. It's up to us to work out how we continue to make it work for us."</p><p>Could that include a different sort of exclusive broadcast partnership, like entertainment perhaps?</p><p>Carter smiles: "There's more to discuss."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/subliminal-sex-messages-hidden-ads-2015-9">Subliminal sex messages hidden in ads for wholesome brands</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="U0bjIwbDp8myHrSr85ETgy0OyTDvG9UO" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

News Corp exec says advertisers may have 're-weighted' their media too far towards Facebook

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>TLC screencap</span></p></div><p></p></div></div><em><strong>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.</strong></em></p>
<p><strong><a href="http://www.kitces.com/blog/why-its-a-bad-idea-for-most-advisors-to-pursue-their-clients-next-generation-heirs/">Taking On Current Clients' Children Could Be A Bad Idea For Advisors</a> (Nerd's Eye View)</strong></p>
<p>As advisors shift to serve the upcoming generations, many are concentrated on wooing the children and heirs of their existing clients. Michael Kitces wrote on his blog, Nerd's Eye View, why this is a bad approach for most investors. He compares it to running a retirement home that caters to both the young and old, and how doing so does a disservice to both groups.</p>
<p><span>"Taking a firm focused on retirees and managing their assets, and trying to mix in clients of all ages, just distracts from the focus of the practice! Such a solution is unlikely to appeal to a younger demographic who will still recognize that the firm's retiree- and asset-management-centric services are not for them, and may even alienate the retiree clients, too," Kitces said. "In fact, the whole approach highlights and accentuates the fact that a firm chasing the children and grandchildren of its retiree clients really isn't focused on the needs of its </span><em>clients </em><span>at all, but is simply </span><em>focusing on the client's pot of money</em><span> instead - and chasing it to whatever generation or destination it happens to flow!"</span><br /><span></span></p>
<p><strong><a href="http://wealthmanagement.com/technology/how-wearables-could-shape-financial-services">Wearable Technology Will Streamline Communication and Information in Financial Services</a> (WealthManagement.com)</strong></p>
<p>Wearable technology, including smartwatches and Google Glass, is slowly making its way into the mainstream. The adoption of this new trend could mean quicker access to information, Lauren Barack said on Wealth Management. Cost and unfamiliarity are holding back wearables from significant integration into daily life, but financial service firms such as Fiserv and Fidelity Labs are starting to experiment with how these will change communication between advisors and clients.</p>
<p>"Where so much of financial services has gone online, with standard features for all, having a higher-end experience delivered to a higher-end client can be beneficial for the customer," Barack said.</p>
<p>"People want a high-level of hand-holding and personal touch, which is typically how the wealth management industry has sustained itself," Serge Van Dam from Fiserv told Barack. "You want to make them feel the digital experience is a premium service. So I think the key challenge is how do you get customers to feel like they that have premium in a digital relationship?"</p>
<p><strong><a href="http://online.wsj.com/articles/voices-david-blain-on-why-financial-adviser-should-cultivate-an-expertise-in-real-estate-1404825990">Advisors Need To Be Well-Versed in Real Estate</a> (Wall Street Journal)</strong></p>
<p>For those who are able to advise on real estate, understanding rates of return and making assumptions about tenants, property repairs, taxes and so on will give them an advantage. David Blain, president of Blue Sky Wealth Advisors, wrote in WSJ that holding real estate provides another stream of income and also has tax advantages. Advisors can charge fees based on the <span>complexity of the client's financial, tax, and investment situation.</span></p>
<p><span>"</span><span style="line-height: 1.5em;">Advisers who want to add real estate to their repertoire need to be able to identify the right client type for such investments. The right client is someone who can put time and effort into their real-estate investment, and who has sufficient capital," Blain said. "My general rule is that never more than one-third of a client's investments should be in real estate. </span><span style="line-height: 1.5em;">Aside from that, get educated. At the end of the day, advisers should be able to take a property and boil it down to a rate of return."</span></p>
<p><strong><span style="line-height: 1.5em;"><a href="http://www.investmentnews.com/article/20140708/BLOG09/140709947">How To Take Advantage Of The Robo-Adviser Trend</a> (InvestmentNews) </span></strong></p>
<p>Robo-advisers have been stirring up attention and are considered to be disrupting the traditional wealth management industry. In InvestmentNews, Hardeep Walia from Motif Investing explained why robo-advisers can actually be more helpful, and less of a threat to existing advisors.</p>
<p>"...In the right hands, technology-driven investing can be one of the best innovations to come along for advisers in a long time. It frees up endless time that may be wasted on back-office operations that takes them away from revenue-generating activities such as behavior coaching, financial planning and the ability to take on and service more clients," Walia said.</p>
<p>"<span>Technology-driven investing isn't so much a battle between humans and machines, but about improving the quality and efficiency of the financial planning process. Advisers can thrive in the era of robo-advisers if they can strike the right balance between high-tech and high-touch."</span></p>
<p><strong><span style="line-height: 1.5em;"><a href="http://www.blackrockblog.com/2014/07/07/silver/">Why You Shouldn't Be Jumping On The Silver Bandwagon</a> (BlackRock)</span></strong></p>
<p><span style="line-height: 1.5em;">Silver has risen 12 percent since lows in June, but Russ Koesterich from BlackRock has three reasons why it's not quite time to start buying up silver (or gold).</span></p>
<p><span style="line-height: 1.5em;">1. While the metal has had a respectable run over the past month, silver is still playing catch-up after losses earlier this year.<br />2. The recent jump in silver prices is partly a function of the metal's volatility. <br />3. Part of the reason that both silver and gold have advanced this year is that interest rates have unexpectedly dropped<span>.<br /></span></span></p>
<p>"For investors looking to take a bet, one factor favoring silver is arguably the economy. Fifty percent of silver demand is tied to industry. If the economy does improve, silver demand should rise faster. That said, both silver and gold are vulnerable to higher real rates, neither looks particularly mispriced, and investors in silver will need to contend with a lot of volatility," Koesterich said. "<span style="line-height: 1.5em;">While I believe that most investors should always have a small allocation to precious metals, it's not clear that this is the time for a dramatic increase in the allocation to either metal."</span></p>

Why Advisors Shouldn't Chase After The Heirs Of Current Clients

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><span>REUTERS/Mariana Bazo</span></p><p class="caption">Senior soccer players take part in a match at a soccer field in Miraflores, in Lima, June 19, 2014. Senior players, aged from 60 to 90, play weekly in a program organized by the municipality to promote activities for older adults. Picture taken June 19, 2014. </p></div><p></p></div></div><em><strong>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.</strong></em></p>
<p><strong><a href="http://live.wsj.com/?category=barrons-mostrecent&amp;mod=BOL_hp_video#!1974CBB9-514E-4FFA-93B7-CF3FEA2544ED">Investors Should Look For Managers With Skin In The Game</a> (Barron's)</strong></p>
<p>In a video interview with Barron's Jack Otter, Chris Davis, chairman at Davis Funds explained his philosophy on investing in businesses rather than stocks, such as Bank of New York and Google.</p>
<p>"When we buy a business, we aren't thinking 'What's our exit strategy?" or "Are we going to find a greater fool to sell this business to at a greater price?" We're thinking about our return being driven, determined, by the cash flows produced by that business," Davis said. "Imagine buying an apartment building for $1 million and it produced $70,000 of income. You'd say, 'I've got a 7% return.' Now, a few years later, that was up to $100,000, you'd say 'I'm getting a 10% return.' You wouldn't debase your return on what you could sell the apartment building for every day. You'd look at the cash to generate the return. And that's how we look at the businesses we invest in."</p>
<p>Davis said another bad idea is to entrust your investments to a fund manager that has no skin in the game. "Can you imagine a client giving us money to invest and our investing it in companies where the CEOs didn't own any stock in the companies that they're entrusted to manage? And yet just like you say, 47% of domestic equity managers don't have a single dollar in the funds that they manage. And by the way, only 12% have more than a million dollars invested alongside their clients," Davis said.</p>
<p>"We want to be with owner operators, we want managements that have skin in the game, we want our incentives to be aligned. That's a critical tenet when we look at companies, why shouldn't that be a critical tenet when we look at an investment manager," David said.</p>
<p><strong><a href="http://online.wsj.com/articles/voices-kevin-clark-on-helping-clients-manage-their-401-k-s-1406127045">How Advisors Can More Easily Advise Clients On Their 401(k)s</a> (Wall Street Journal)</strong></p>
<p>Advising clients on their 401(k)s can be cumbersome, however, a Schwab study showed that almost 60% of clients with a defined contribution plan are seeking advice. Kevin Clark from Quintessential Retirement Services wrote in the WSJ that it's important for advisors to take responsibility for these needs.</p>
<p>"<span>So I think that advisers have a choice, really: they can simply surrender to those robo-advisers or find a way to automate the 401(k) advising process with technology of their own," Clark said. "There are a host of powerful software options out there that are helping advisers deliver information to clients more efficiently. Many allow you to load in your allocation strategy, and using their algorithms and fund information, the programs tailor advice to clients' individual 401(k)s. That means no more pie charts or time-consuming research."</span></p>
<p><span>"<span>Advisers need to be far more active in the 401(k) advising space and now, with this kind of technology available, there's really no reason for them not to be. Clients are asking for this advice and it's only reasonable that it be available from someone they not only trust, but someone who also understands the role of their 401(k)s in the context of their larger financial picture," he said.</span></span></p>
<p><strong><a href="http://www.investmentnews.com/article/20140723/FREE/140729961">Money Fund Reforms Passed By The SEC May Not Be Enough</a> (InvestmentNews)</strong></p>
<p>The SEC has passed reforms on money market funds in an attempt to strengthen the financial system and increase transparency. "Among the reforms, which passed on a 3-2 vote, money market funds that serve institutional clients and invest in private debt will now be required to let their share price fluctuate from $1 a share," wrote Trevor Hunnicutt at InvestmentNews. But some industry experts are skeptical about the reform's impacts.</p>
<p>"<span style="line-height: 1.5em;">Many investors use money-market funds as a way to park cash they don't want to invest in risky assets but near-zero interest rates have depressed the yields on the funds. That, combined with the reform efforts, have led some fund firms to start pitching other products, like very short-term debt funds, as alternatives to money market funds," Hunnicutt said.<br /></span></p>
<p>"In an interview after the commission meeting, Jerome M. Schneider, a portfolio manager for the Pacific Investment Management Co., said that interest in the firm's actively managed short-term debt products has been driven in part by institutional investors reconsidering their allocations to money market funds since the Reserve Primary Fund "broke the buck" in Sept. 2008. He said the firm may consider other products as a result of the change to a floating net asset value," Hunnicutt wrote.</p>
<p><strong><a href="http://www.financial-planning.com/news/iras_401k/supreme-court-cuts-bankruptcy-exemption-2689883-1.html">How To Protect The IRAs Your Clients Pass On To Their Heirs </a>(Financial Planning)</strong></p>
<p>Under a June Supreme Court ruling, inherited IRAs are not protected in bankruptcy. This means that your clients' heirs could lose their IRAs if they run into financial problems. Ed Slott from Financial Planning gave a couple suggestions on how to protect these IRAs once they are passed on.</p>
<p>"<span style="line-height: 1.5em;">For clients in states with no inherited IRA protection, there are other approaches that advisors might use. Perhaps the most obvious, especially in situations where bankruptcy or general creditor protection for your clients' beneficiaries is a major concern, is to name a trust as the IRA beneficiary," Slott said. "</span><span style="line-height: 1.5em;">If a trust is drafted properly, it can help shield assets from the trust beneficiaries' creditors, while still allowing the trust to stretch distributions from the inherited IRA over the life expectancy of the oldest trust beneficiary."</span></p>
<p><span style="line-height: 1.5em;">"I<span>f your clients do not need all or a portion of their IRA for retirement purposes, another option is to use some of the IRA money to buy life insurance and leave the insurance to a trust. Life insurance is, for a host of reasons, a much more trust-friendly asset than an IRA or Roth IRA, and life insurance proceeds are generally tax free - reducing the impact of the trust tax rates," he said.</span></span></p>
<p><strong><a href="http://wealthmanagement.com/college-planning/raid-your-kids-college-savings-sometimes-it-ok">When It's Acceptable To Dip Into Your Child's College Savings</a> (Wealth Management)</strong></p>
<p>With the costs of college rising, parents need to plan ahead for their children's education. However, Chris Taylor from Reuters wrote that dipping into 529 plans isn't always a horrible thing, and is preferable to spending from a retirement account. "<span style="line-height: 1.5em;">With non-qualified distributions, in most cases you are looking at a 10 percent penalty on earnings. Withdrawn earnings will also be treated as income on your tax return, and if you took a state tax deduction on the original money, withdrawn contributions often count as income as well," Taylor said.</span></p>
<p>"Not ideal, of course. But if your other option for emergency funds is to raid your own retirement accounts, tapping college savings is a last-ditch avenue to consider. Not only because you do not want to blow up your own nest egg but because it could make relative tax sense. As the saying goes, you can borrow money for college, but not for retirement," he said.</p>

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