What the owner of the New York Stock Exchange (NYSE) says: We launched a market for bitcoin futures.
What the owner of the NYSE means: We think institutional investors will finally catch the crypto drift now that we’ve given it some legitimacy.
Last night, NYSE owner Intercontinental Exchange (ICE) launched bitcoin futures, allowing traders to bet on whether the underlying bitcoin market will rise or fall. The new contracts come via Bakkt, a venture that aims to make cryptocurrencies more transparent and regulated…and subsequently more commonplace in the economy.
Because there’s a reason you didn’t pay for your PSL with bitcoin this morning, and that reason is likely volatility. ICE’s futures will try to make protecting yourself from crypto’s characteristic price swings (+171% this year) easier.
As for competition…ICE rival CME Group launched bitcoin futures in December 2017 at the height of crypto mania. The main difference between the two: ICE will pay traders who hold futures to expiration in bitcoin or deliver bitcoin to Bakkt to settle bets; CME’s bitcoin futures are settled in dollars.
Apple (+0.67%) apologized
for a series of privacy oopsies involving its voice assistant, Siri.
Some advice for Tim Apple: Flowers say I’m sorry, chocolate says I love
you.
What happened
Apple
came under fire for hiring humans to listen to recordings of user
interactions with Siri to train and improve the artificial intelligence
(AI) product. Apple had tapped hundreds of third-party contractors to
listen in as part of this “grading” program.
Apple said less than 0.2% of all Siri requests were reviewed using audio samples.
Those that were reviewed weren’t tied to an Apple ID or phone number.
Still, the program meant humans were listening
to the more private things other humans did in front of Siri’s watchful
gaze, like having sex, (possibly) committing crimes, and trying to hit
the high note in “Shallow.”
The bigger problem? Apple didn’t explicitly disclose
the grading to users. Amazon and Google both engage in similar
practices, but after also getting in trouble, Amazon lets users opt out
of reviews. Google’s reviews are still suspended.
Which brings us to today:Apple said, “We realize we haven’t been fully living up to our high ideals, and for that we apologize.”
What’s changing
Apple suspended
the grading program a few weeks ago when the internet caught on. It’ll
bring the practice back this fall after sending us all flowers and
installing some software updates to give users more privacy controls.
Apple will
by default “no longer retain audio recordings of Siri interactions.”
It’ll still use automated, anonymized transcripts to improve Siri’s AI,
but users will be able to opt in.
Third-party contractors are out. Apple reportedly axed over 300 contractors in Europe as it officially benched the old grading program.
Looking ahead…Apple faces a class-action lawsuit over human-listener privacy violations. As a company that claims to prioritize privacy, it’s also doing time as the butt of the joke—this is the same company that made this at CES:
Both can cause unexpected shrinkage. For the first time in seven years, the U.K. economy contracted last quarter—an intense side effect of Brexit that took investors by surprise Friday and sent the pound to multiyear lows. Run the British numbers: The U.K. Office for National Statistics said GDP was 0.2% smaller in Q2 than it was during the first three months of the year. That led to an annualized decline of 0.8%, made all the more dramatic considering the 2% increase the U.K. experienced in Q1. What’s souring the economic clotted cream? Turns out extracting the world’s fifth largest economy from the EU takes a toll. New Prime Minister Boris Johnson intends to withdraw Britain from the bloc on Oct. 31, regardless of whether lawmakers have agreed to a divorce deal. Brussels has said that the deal Johnson’s predecessor, Theresa May, made (the same one Parliament thrice rejected) isn’t up for negotiation. That’s raised the prospects of a no-deal Brexit, which some say could disrupt trade, hamstring employment and business investment, push down the pound, increase inflation, and stir unwelcome memories for the Duchess of Sussex, a former briefcase girl on Deal or No Deal. But keep in mind… The U.K. doesn’t expect to fall into a recession (aka two consecutive quarters of economic shrinkage). Part of Q2’s contraction came c/o an earlier rush to stockpile products. The original March 29 Brexit deadline had British business in overdrive during Q1, but when that due date got pushed, companies quit the hoarding. The resulting slowdown hampered production and inventory stats last quarter, though household spending and the services sector stayed solid. Looking ahead…the British economy is expected to expand during Q3. Businesses are again stockpiling what they’ll need in the event of that harrowing no-deal departure on Halloween.
After some people change the course of history, they launch their own tequila brand. Not Mark Zuckerberg, whose latest ambition is disrupting the global financial system. Yesterday, we were finally introduced to Libra, Facebook’s (-0.29%) highly anticipated crypto venture. What is it? Short version: Libra is a secure, blockchain-based cryptocurrency that’ll let people buy things and instantly send/receive money globally without giant fees. It’s like bitcoin, if bitcoin were backed by a basket of international currencies to keep it immune to massive swings in value. How can you use it? The target: Zuck wants to begin by offering Libra to almost all of the 2.7 billion people using Messenger and WhatsApp. Plus, Facebook and its 27 initial business partners have set up Libra so any company can (eventually) accept it. The use cases: Facebook wants Libra to trade like the dollar (or any other stable fiat currency). Example 1: Send Libra as payment for transactions like buying ads on Facebook, or to any person/business with a Libra wallet. Example 2: Pay for services like Uber and Spotify with Libra. But it’s also got major potential in the world of cross-border payments. India, which has more than 200 million WhatsApp users, received $79 billion in remittances in 2018. And global remittances hit $689 billion last year. When will this happen? Facebook wants to launch Libra in the first half of 2020, but there are some big hurdles: It needs a final design. It needs to find banks willing to hold the money that backs Libra. It needs financial regulators to sign off. And you know what they say about Zuck and regulators… But the state championship 400-meter hurdle is getting people to actually use Libra. It looks good on white paper, but theory and practice are two different things. + For more insight on the mechanics behind Libra, Brew tech writer Ryan Duffy aka Satoshi Jr. has you covered.
A trip to the glamorous French Riviera would not be complete without a
visit to the elegant city of Nice. Founded by the Greeks, its winding,
age-old streets have attracted artists such as Henri Matisse who resided
there, Renoir, Chagall and Arman, who all were inspired by its
coastline. It was also once the home of Pablo Picasso and author F.Scott
Fitzgerald. While here make sure you head to the city’s old town and on
to Cours Saleya, famous for its fresh market, bistros and boutiques.
2) Visit a perfumery in Côte d’Azur
With fashionable past guests including designer Coco Chanel and
actresses Audrey Hepburn and Brigitte Bardot, the chic Côte d’Azur
screams elegance. A health retreat in the 18th century, it has been the
chosen retreat for aristocrats, artists and celebrities for centuries.
Make like the jet set yourself as you cruise along its coastal roads to a
perfumery, where you’ll unlock the secrets of the world-famous perfume
industry.
Small but mighty, what Monaco lacks in size, it more than makes up
for in glamor. It may be the world’s second-smallest country, but its
yacht-filled harbor, glitzy visitors and beautiful coastal views, make
it a must-see. Act like you’re heading to the Paddock Club as you enjoy a
drive along part of the Grand Prix circuit here. Also, make sure you
head to the city’s beautiful old town and see the Royal Palace and
Monaco Cathedral, which houses the tomb of Princess Grace.
The original residence of the pope in the 14th century, the pretty
medieval city of Avignon has plenty of history to discover. See the Pont
Saint-Bénézet, otherwise known as Pont d’Avignon and pass the medieval
battlements to delve into the city’s ecclesiastical history at the Papal
Palace.
5) Visit the ancient Pont du Gard
See the ancient three-tiered Roman bridge of Pont du Gard that
crosses the Gardon River. Built in the first century AD and 48.8 metres
high, it was the highest bridge in the Roman empire.
Europe is the land of castles. All throughout the continent, you can visit, drink wine and even spend the night in many of these medieval structures. With over 2,500 hundred alone in Spain, 1000 in the southwestern region of France and a whopping 20,000 rumored to exist in Germany, castle enthusiasts certainly have their work cut out for them. We has narrowed it down to some of the most beautiful castles in Europe you should plan to visit.
Château de Chenonceau, France This castle was constructed during the 12th and 13th century. Nowadays, only the dungeon remains intact from the original medieval structure. A special bridge section that spans the Cher River was adding during reconstruction in the 1500s. The grounds and gardens showcase the charm and beauty of the France’s Loire Valley. Pena Palace, Sintra, Portugal This bold and colorful palace is one of Portugal’s most famous architectural examples of 19th century Romanticism. Set on a hill and surrounded by a forest, the warm tones of the turrets and towers look especially stunning against the greenery of nature. Aragonese Castle, Ischia, Italy Dating back to 474 BC, the Aragonese Castle has one of the most unique locations on this list: it’s on it’s own volcanic tiny islet, connected to the larger island of Ischia by a small walkway. Today, the castle is privately owned and tourists can visit for a small fee. Bled Castle, Slovenia One of Slovenia’s oldest castles, this giant citadel sits atop on rocky cliff overlooking the clear waters of Lake Bled below. Constructed in Romanesque, Medieval and Renaissance styles, the castle also features a quintessential moat and drawbridge.
If warm apple cider by the fire is peak hygge, Boeing’s (+1.03%) relationship with federal regulators would be like adding fuzzy socks to the equation.
That’s why lawmakers spent yesterday questioning U.S. aviation officials over their approval process for the Boeing 737 Max aircraft—the model involved in two crashes that killed 346 people in five months.
The backstory
About seven years ago, a government watchdog came to some “alarming conclusions” about how the FAA certified new Boeing planes, per the NYT.
It found FAA employees thought their management had “too close a relationship with Boeing officials” and had not always supported efforts “to hold Boeing accountable.”
At that time, the FAA’s Transport Airplane Directorate was led by Ali Bahrami, who soon after took a job pushing the FAA to allow manufacturers like Boeing to do more certification legwork on their own.
That’s reflected the general vibe in D.C. Lawmakers had been okay with the close relationship between regulator and regulatee, since it allowed the FAA to focus its limited resources on what it considered the most critical safety projects.
But following the twin crashes that appear to be linked, the question is…did the FAA give Boeing too much leeway in regulating itself?
What we learned yesterday
While transportation officials faced questions on Capitol Hill, Boeing previewed anti-stall software fixes, cockpit alerts, and additional pilot training for 737 Max planes. It said the models will be safer and it’s working to “restore faith” in its industry.
The FAA maintained Boeing is not permitted to self-certify and that the “FAA retains strict oversight authority.” It said the certification process for the now-grounded 737 Max (Boeing’s best-selling plane) was “detailed and thorough.”
Looking ahead…the FAA is revamping its oversight approach by July with new criteria for training and self-audits. But there’s no timetable for the 737 Max’s return to the skies.
With Valentine’s Day approaching, it’s time to plan that romantic getaway with your favorite loved one. Although the weather may be chilly, an escape to one of these European spots is the perfect way to celebrate the Hallmark holiday. Plus, cooler temps mean you can snuggle up with your partner by the fireplace or at the spa. Even better, it’s low season, so you may find a solid deal on airfare or hotel. Here are some of the most idyllic spots in Europe to celebrate this Valentine’s Day.
Verona, Italy
While everyone pictures Italian romance as a gondola ride through a quaint Venice canal, we can do you one better. The Northern Italian town of Verona is home to the famous Shakespearean love story “Romeo and Juliet.” You can actually head to the house that inspired the masterpiece. Is there anything more romantic than standing on Juliet’s balcony? If that’s just a bit too cheesy for you, don’t worry. Verona will be prepping for their Carnival celebration, meaning you’ll spot hints of elaborate costumes and sparkling theater masks in hidden corners around the city. Plan to wander hand-in-hand with your honey through the most preserved Roman Amphitheater in the world, the Arena, followed by a glass of Prosecco in a cozy bar like San Nicolo or Symposio.
Bern, Switzerland
One of the most romantic spots in all of Switzerland, the snow-capped picturesque town of Bern was made for lovers. After a chilly day exploring the city’s charming architecture, (deemed an UNESCO World Heritage site), warm up with some wine. Considering only 1% of Swiss wines are exported (and mostly to Germany), it’s the perfect excuse to taste as many varieties as possible at a cellar bar like Marta, or a wine spot like Zsa Zsa. Don’t forget to cross the famous Bern Bridge, and then head to the nearby hills around sunset to snap the snowy rooftops throughout the city.
Paris, France
This list wouldn’t be complete without one of the most romantic destinations in Europe: Paris, the city of light. Start with a quiet stroll through the Trocadéro gardens, admiring the views of the Eiffel Tower. Then, cross the bridges of the Seine, covered in locks from couples madly in love. If the February temps get a little chilly, peruse the Impressionist art at the Museo D’Orsay, which was once a train station, or sip natural wines paired with French cheese and foie gras at wine bar Le Garde-Robe. If that’s not enough, just listen to the locals babble on in French — according to a Hotels.com survey, people it’s the sexiest language in the world.
A brisk breeze is blowing in, leaves are tinged with reddish hues and everyone’s talking about back to school. Welcome to fall! If you’re daydreaming of traveling to Europe during the Autumn season, here are some stunning spots in Europe where you can indulge in delicious autumn cuisine and cocktails that go well beyond a Pumpkin Spice Latte.
Jerez de la Frontera, Spain
Though the weather in Jerez isn’t as chilly as other European spots in fall, it’s the perfect place to visit for travelers who want to have a fall getaway while still enjoying some leftover rays of sunshine. Known for its delectable sherry, taste fino, manzanilla and oloroso varieties while sampling specialties like almadraba tuna and oxtail. Try to make it to Jerez forInternational Sherry Week in mid-October.
France’s Loire Valley in early Autumn.
Loire Valley, France
Besides gazing at endless stretches of vineyards and countryside, lightly suffused with autumnal shades, the Loire Valley offers the best kind of fall fun: castles and wine. A medieval-inspired getaway includes visits to castles (over 40 châteaux dot the region), visits to wineries, or better yet, visits to wineries in castles. Make sure to sip some dry white Muscadet and pair it with rillettes, a textured Pâté.
Lake Constance, Germany (or Austria or Switzerland)
One of Europe’s largest lakes, Lake Constance actually borders three different countries: Germany, Austria and Switzerland. Besides enjoying the lake views, there’s plenty to do in the area in all three countries — boat rides, castle visits, hiking and more. With various fall festivals happening through the end of the season, plan to sip some wines from the local Müller-Thurgau grape variety and participate in apple and pumpkin harvests too.
Tuscany makes for a legendary getaway during the months of October and September. Especially given that it’s around the time when wine harvest is in full swing.
Siena Province, Italy
Siena is a province in Tuscany, home to a number of small villages diffused through forests, rolling hills, vineyards and more. The landscape is absolutely breathtaking, especially in autumn when the color medley changes from cool to warm. Besides stopping to wine taste (Siena spans part of the Chianti region), hit up one of the many chestnut harvest festivals that happen during October and November.
Stunning Hallstatt, Austria during October.
Hallstat, Austria
Hallstat’s beautiful lake and quaint alpine houses make the village one of as most photographed spots. Views over the lake and mountains as the leaves change color are truly exceptional, and even better if enjoyed while digging into an apple strudel and some mulled, spiced wine.
RELATED: Here’s a Perfect 3 Week Itinerary For Visiting Central Europe
Amsterdam is always a fall treat.
Amsterdam, Netherlands
One of the larger cities on this list, Amsterdam’s charming canals and vivid bike culture are especially welcome in fall. A bike tour through the nearby countryside will introduce you to those famous windmills set among the autumn leaves. A visit to a cheese factory gives you access to endless wheels of Gouda. Plus, the Amsterdam Lights Festival starts at the end of November, where the city’s canals, landmarks and more are covered in twinkling lights.
Brugge almost looks like a painting during Fall.
Brugge, Brussels
Ever heard of pink Brugge? Some leaves actually look a reddish pink when they start to change color in this fairy tale medieval city. While you can go the beer route (they even have a beer museum), Brugge is known for its sugary delights — especially Belgian waffles and chocolate. Katelijnestraat Street is lined with several chocolate shops, so those with a sweet tooth should start there.
Scotland is one of the most underrated European Fall destinations.
Perthshire, Scotland
With over 1/5 of the country covered in trees, Scotland is the place to be if you want to admire the leaves changing colors. Perthshire is especially picturesque in autumn thanks to its forests, as well as long stretches of moors, rivers and mountains. You may get a little chilly, but with several whiskey distilleries in the region, you can easily warm up with a dram.
For Vinho Verde wine enthusiasts — there’s good reason to drink it. These wines are youthful, flavor packed, and typically quite cheap. Vinho Verde is arguably the most popular white wine in Portugal, but its popularity is also exploding in the United States. It can be made in a Rosé or red wine style as well. Note that Vinho Verde isn’t just a style of wine from Portugal, it’s also a wine making region!
Translated from Portugeuse directly — Vinho Verde means green wine. In actuality, it stands for young wine. Most Vinho Verde wines are crafted with the intent to be consumed within one year after being bottled. They are, in my opinion, one of the most ideal wines you can drink during the summer months.
Regardless of what wine making style is employed, they are refreshing, crisp, light and can pack a subtle amount of effervescence (even the reds!). Because the amount of CO2pressure utilized is so minimal, resulting from malolactic fermentation, Vinho Verde wines are not considered sparkling wines. Though the carbon dioxide content has become a trademark quality that consumers look for in Vinho Verde wine. They are also not intensely alcoholic, and typically contain no more than 11% ABV.
1. Vinho Verde Rosé
Vinho Verde wine crafted in a Rose style tend to have a predominantly cherry hue to them. They can be both dry or off-dry, with very fruit forward aromas and will most often be crafted from Padeiro and or Espadeiro grapes. Expect big hints of cherry, strawberry and goji berries
2. Vinho Verde White Wine
My favorite style of Vinho Verde — these white wines are incredibly refreshing with crisp acidity. They are made from local grape varieties which include Arinto, Azal, Avesso, Loureiro and Trajadura. The best styles have just the right amount of bubbles, backed by big notes of tree and tropical fruit. Look for Vinho Verde white wines that emit notes of pear, melon, lime and cool mineral notes.
3. Vinho Verde Red Wine
Vinho Verde reds tend experience a bit of neglect. These reds are usually made to be single varietal wines, or blends of Amaral, Borraçal and Vinhão. Because of the terroir, and the grape varieties themselves, expect a big depth of flavor over rich, grippy tannic content.
