1516713210_bitcointhisweek180123.JPG Tech 

Bitcoin tumbles below $10,000 and is now down 25% on the year

Bitcoin briefly fell Tuesday below the psychologically key $10,000 for the second time in a week. The digital currency dropped more than 7 percent to a low of $9,972.29 Tuesday morning, according to CoinDesk’s bitcoin price index, which tracks prices from digital currency exchanges Bitstamp, Coinbase, itBit and Bitfinex. Bitcoin had recovered to trade near $10,215 as of 8:13 a.m., ET. Bitcoin plunged more than 30 percent in the middle of last week, briefly falling below $10,000 to a low of $9,199.59 on CoinDesk, following concerns of increased regulation in…

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Nobel economist Stiglitz sees no legal functions for bitcoin – "We have a good medium of exchange called the dollar"

Kim Kyung Hoon/Reuters Nobel-prize winning economist Joseph Stiglitz says bitcoin serves no useful function – other than circumventing legality. Stiglitz, who has called on bitcoin to be outlawed, told Blooomberg Television from Davos: “We have a good medium of exchange called the dollar.” He argues that regulating bitcoin would mean driving it out of existance – and he thinks that would be a good thing. It’s not a secret that Joseph Stiglitz, the Nobel-winning economist and Columbia professor, is not a special fan of bitcoin. He has called for the…

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Victims in Larry Nassar Abuse Case Find a Fierce Advocate: the Judge

And, in an extraordinary session streamed live on the internet over several days, she has opened her courtroom to any victim who wishes to speak, for however long she wishes to speak. That goes for their coaches and parents, too. “Leave your pain here,” Ms. Aquilina told one young woman, “and go out and do your magnificent things.” Stephen Gillers, a professor of law at New York University, said that although judges are often thought of as unbiased and impartial, it is important to remember that this is a sentencing…

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Unravel Data raises $15M Series B for its big data performance monitoring platform

Big data systems tend to be large, complex and often hard to troubleshoot. In the world of databases, web and mobile stacks, application performance management services like AppDynamics and New Relic help ops teams keep tabs on their system. In the big data world, Unravel Data is one of the few APM players to focus solely on the complete big data stack from ingestion to analysis (though companies like Driven and others are also working on at least some aspects of this). Unravel today announced that it has raised a…

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Rafael Nadal Retires From Australian Open With Injury

Photo Marin Cilic consoled Rafael Nadal, right, after Nadal retired with an injury in their quarter-final match at the Australian Open. Credit Mark Kolbe/Getty Images MELBOURNE, Australia — The injuries continued for the elite of men’s tennis on Tuesday, as Rafael Nadal, the No. 1 seed, retired down 0-2 in the fifth set of his Australian Open quarterfinal with Marin Cilic. Nadal took a two-set-to-one lead after winning a third-set tiebreaker in typically combative fashion. But down by 1-4 in the fourth set, he took a medical timeout. He was…

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Travelers up 2% after core income tops estimates

Q4 core income of $633M or $2.28 per share vs. $919M and $3.20 a year ago, but topping estimates for $1.51. Net written premiums of $6.4B up 6% Y/Y. Company booked a $129M charge in Q4 thanks to tax reform, but this isn’t included in core income. Combined ratio of 99.5% worsened by 550 basis points Y/Y thanks to higher Q4 catastrophe events; underlying combined ratio of 92.4% was up just 40 basis points. Net investment income of $601M vs. $627M a year ago. Year-end adjusted book value per share…

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U.S. Tariffs, Aimed at China and South Korea, to Hit Targets Worldwide

If Washington did not adhere to such a ruling, the World Trade Organization could authorize other countries to set similar trade limits. That could raise the question of whether the United States accepts the organization’s decisions. Robert E. Lighthizer, the United States trade representative, has argued for years that such decisions should, essentially, be advisory. China and South Korea have leverage of their own, as they are big importers of American-made machinery and agricultural products. China, in particular, has long been a big buyer of soybeans and other crops from…

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Element.AI opens London outpost with focus on ‘AI for good’

Element.AI — which last year raised $102 million from the likes of Microsoft, Intel, Nvidia and more to build an incubator-meets-consultancy to work with multiple businesses as they launch new services and systems based on artificial intelligence — is entering the next phase of its growth this week. The Canadian startup — co-founded by Jean-François Gagné, Nicolas Chapados, and Yoshua Bengio — is opening an outpost in London, its first international expansion. One main focus will be to work with charities, non-governmental organizations and others on “AI for good,” alongside Element.AI’s existing…

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