Business, Politics & Money
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Nutella creator Michele Ferrero passes away

By: Ben Gourlay | More News: Business, Politics & Money | Posted: Feb 16, 2015 3:45 am

Nutella addicts, put down your chocolaty spread for a moment and tip your hat to the creator of the delectable treat, Michele Ferrero, who has passed away at the ripe old age of 89.




Ferrero's father Pietro Ferrero established the company that carried his name in 1946, Pietro Ferrero created the recipe for a creamy hazelnut and cocoa mix which was later tweaked and sold to market as Nutella when it was launched by Michele Ferrero in 1964. Since then, it's gone on to be the highest selling chocolate nut spread, beloved by millions. Under Michele's leadership Ferrero expanded its range of products exponentially, including Ferrero Rocher, Raffaello, Mon Chéri and the Kinder chocolate line, including the egg-favorite Kinder Surprise.


At the time of his death, Ferrero was the richest man in Italy, with a net worth of $30 billion.

Australian PM Tony Abbott says social media is 'Electronic Graffiti'

By: Chris Smith | More News: Business, Politics & Money | Posted: Jan 27, 2015 7:02 am

Yesterday was Australia day, often known as 'the day of the drunk bogan' but also a time to celebrate and reflect on everything that is Australia. 'The Land Down Under's' Prime Minister Tony Abbott celebrated this occasion by awarding Prince Philip with an Australian Knighthood, seeing major backlash among global social media.




Mr. Abbott dismissed the haters, labeling social media as "electronic graffiti," disregarding members of the public and their opinions as slander.


When addressing the issue at a press conference, Mr. Abbott dismissed the online opinions and scolded the media for publishing them by stating "I'll leave social media to its own devices. Social media is kind of like electronic graffiti and I think that in the media, you make a big mistake to pay too much attention to social media. You wouldn't report what's sprayed up on the walls of buildings."

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SkyMall has fallen from grace - Bankruptcy filing is in progress

By: Chris Smith | More News: Business, Politics & Money | Posted: Jan 25, 2015 6:34 pm

If you're after some weird and wacky objects, they might be a little harder to source in the near future as Xhibit Corp. has filed for bankruptcy - we're not talking about the rapper.




Skymall has blamed exterior sources, stating in their announcement that this shut down is apparently due to "the increased use of electronic devices on planes, fewer people browsed the SkyMall in-flight catalogue. [This] resulted in additional competition from e-commerce retailers and additional competition for the attention of passengers, all of which further negatively impacted SkyMall's catalogue sales."


Down but not out, SkyMall Chief Executive Scott Wiley states that he's "extremely disappointed in this result and are hopeful that SkyMall and the iconic 'SkyMall' brand find a home to continue to operate as SkyMall has for the last 25 years."

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Doomsday Clock moved even closer to nuclear apocalypse

By: Ben Gourlay | More News: Business, Politics & Money | Posted: Jan 23, 2015 8:53 am

The doomsday clock, the metaphoric symbol which represents how close the world is to life-ending catastrophe has been upgraded by two minutes, now resting just three minutes to midnight.




According to CBS News, the Science and Security Board of the Bulletin of Atomic Scientists made the adjustment overnight to reflect concerns about the world's huge stockpile of nuclear weapons and concerns regarding climate change. This is the first adjustment to the clock since 2012, when it was set to 11.55PM.


The latest the Doomsday Clock has ever been set was in 1953, at 11.58PM when the United States announced the first test of the destructive hydrogen bomb. The current time is set at a precarious one minute from that.

ISIS rebranded as 'Daesh', as countries adopt name terrorists despise

By: Ben Gourlay | More News: Business, Politics & Money | Posted: Jan 13, 2015 12:20 am

In a report from Australian broadcaster SBS, Australian Prime Minister Tony Abbott has decided to take the lead of United States, French and Arabic Governments in refusing to refer to ISIS or 'Islamic State' but 'Daesh'.




In explaining his decision, the Prime Minister noted that "Daesh hates being referred to by this term and what they don't like has an instinctive ­appeal to me... I absolutely refuse to refer to it by the title that it claims for itself [Islamic State], because I think this is a perversion of religion and a travesty of governance... I would strongly counsel people against ever using the presumptuous title that they have given themselves.'


Mr Abbott's decision follows a the similar adoption of the acronym from the United States and French Governments, which attempts to remove the Islamic religion from the equation, whilst de-legitimising the terrorist organisation who despise the title and have even promised to remove the tongues of those who speak it. At a Pentagon news conference last month, Lieutenant General James Terry explained the meaning further:

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Christmas light recycling is serious business in China

By: Chris Smith | More News: Business, Politics & Money | Posted: Dec 29, 2014 2:32 am

20 million pounds of unwanted Christmas lights end up in the hands of the Christmas tree light capital of the world, Shijao, China, each year.




Their industry built on old lights follows the age-old saying "one man's trash is another man's treasure," seeing this large quantity of unwanted lighting melted down and separated into brass copper and plastic materials for carious implementations ranging from clothing to electronic goods.


This information was first published by Adam Minter in his book titles "Junkyard Planet," seeing him travel to this utopia of trash and research the process of churning 2200-pound bales of lights into re-usable raw materials. Thanks to China's cheap labor and goods exports, it's claimed that the ships transporting goods to the U.S. and other Western Nations often come back empty-handed, with no cargo on-board. This is where they can utilize their light-load for good, often carrying back waste paper to be churned into toilet paper or in this case - discarded Christmas lights for a new lease on life.

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North Korea threatens the White House with retaliation

By: Chris Smith | More News: Business, Politics & Money | Posted: Dec 22, 2014 12:58 pm

If the US sanctions North Korea for an alleged hacking attack, they have been told by the North's National Defense Commission that a retaliation shall be expected on the White House and other high-profile US targets.




US President Barrack Obama stated on Friday that "we will respond proportionately and we'll respond in a place and time and manner that we choose," once again mentioning that he believes North Korea is at fault for the large-scale Sony hacking controversy that has been happening over the last few weeks.


North Korea's NDC replied that they "are fully ready to stand in confrontation with the US in all war spaces including cyber warfare space to blow up those citadels," further commenting that "our toughest counteraction will be boldly taken against the White House, the Pentagon and the whole US mainland, the cesspool of terrorism, by far surpassing the 'symmetric counteraction' declared by Obama."

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Poiltitian claims Twitter hack after 'following' pornstar Belle Knox

By: Chris Smith | More News: Business, Politics & Money | Posted: Dec 21, 2014 12:07 pm

Steve Bellone jumped quickly to his own defense after his Twitter account was seen 'following' pornstar Belle Knox - claiming the account was hacked. This County Executive claimed that Mrs. Knox made his shortlist of only 267 people 'followed' through a hijack of his professional account, not by his own means.




Possibly worried about his election campaign Bellone, a father of three, is up for re-election in 2015 and has made clear that this news is solely due to a Twitter hijack of the controversial Knox - who has been seen in headlines recently due to being exposed thanks to a fellow Duke University student shedding some light some extra-curricular activities relating to her employment.

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Australian Tax Office lists Bitcoin as liable for GST

By: Chris Smith | More News: Business, Politics & Money | Posted: Dec 19, 2014 6:08 am

The Australian Tax Office (ATO) has just implemented a ruling that transactions completed in the digital crypto-currency Bitcoin are liable for the Goods and Services Tax (GST), however it's still not classified as 'real money'.




This ruling reads "a transfer of Bitcoin from one entity to another is a 'supply' for GST purposes" with further research into the release commenting that anything involving Bitcoin "will be treated as a barter transaction," still rendering it as not 'real' money. This follows previous reports of this Australian organization claiming Bitcoin to be used for 'barter' only and not classified as a legitimate currency.

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North Korea manufacturing crystal meth on an industrial scale

By: Paul Alcorn | More News: Business, Politics & Money | Posted: Dec 18, 2014 9:52 pm

Poor economy got you down? Well, you can always just cook up some crystal meth. Reality is stranger than fiction, and that trend continues with the news that North Korea is manufacturing crystal meth in industrial facilities. This isn't your garden variety crystal meth either, according to the Committee for Human Rights in North Korea. US officials have verified that the meth, which landed in the US cities of New York and Boston, tests at 96-98% purity. That's a benchmark even the characters on Breaking Bad would consider impressive.




North Korea is no stranger to resorting to illegal activities to cover budgetary shortfalls. Kim Jong-un inherited this illicit lineage from his forefathers, who began dabbling in international crime in the 1970's. During the 1990's a famine engulfed the reclusive country, and over a million people died. During the famine North Korea turned their attention to growing opium, instead of the staples that might have saved innumerable lives. The rationale was that opium could generate far more money for the beleaguered regime, which at the time had just began a round of tough sanctions.


The transition to crystal meth began as the popularity of the drug increased in the international market in the 2000's . North Korean crystal meth has been found in China, Japan, and the US. The drugs are distributed through organized crime syndicates, but apparently North Korean officials have no issue with delivering the goods themselves. Several of their ambassadors have been expelled from host countries due to smuggling activities.

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