c.2013 New York Times News Service
c.2013 New York Times News Service
NBC BUYING WEB SERVICE TO STREAM PHONE VIDEO
NBC is betting that the next generation of news coverage involves live video, streamed straight to its control rooms in New York from the cellphones of witnesses. On Monday, NBC News, a unit of Comcast’s NBCUniversal, will announce its acquisition of Stringwire, an early stage Web service that enables just that. Vivian Schiller, the chief digital officer for NBC News, imagined using Stringwire for coverage of all-consuming protests like those that occurred in Tahrir Square in Cairo.
CELEBRITY WEEKLIES ARE REVELING IN A ROYAL BABY, AND SALES
Celebrity weeklies reported large declines in newsstand sales for the first half of the year, according to figures released last week, but editors didn’t let the numbers get them down. They were too distracted by baby news. The July 22 birth of Prince George brought these publications millions of readers eager for news about everything from Prince George’s nursery and astrological sign to Prince William’s paternity leave. People, which published the first royal baby cover with the “Royal Baby Joy!” collector’s issue, was expected to sell 1.4 million copies during the two weeks it remained on newsstands, said Larry Hackett, People’s managing editor.
PROSECUTORS EYE PENALTIES OVER JPMORGAN TRADING
As federal authorities prepare to charge criminally two former JPMorgan Chase employees suspected of misrepresenting a multibillion-dollar trading loss last year, prosecutors in Manhattan are separately exploring ways to penalize the bank over the trading blowup that has come to be known as the “London Whale.” The investigation, according to people briefed on the matter, could yield a fine and a reprimand of the bank for allowing the suspected wrongdoing to occur. Prosecutors at the U.S. attorney’s office in Manhattan could also force the bank to bolster internal controls that failed to thwart the trading loss.
LONG SLOG FOR FOREIGN DOCTORS TO PRACTICE IN U.S.
Thousands of foreign-trained immigrant physicians are living in the United States with lifesaving skills that are lying fallow because they stumbled over one of the many hurdles in the path toward becoming a licensed doctor. The onerous tests and often duplicative training are intended to make sure they meet this country’s high quality standards, which U.S. medical industry groups say are unmatched elsewhere in the world. But many foreign physicians and their advocates argue that the process is unnecessarily restrictive and time-consuming, particularly since the need for doctors in the U.S. will expand sharply in a few short months under President Barack Obama’s health care law.
TECHNOLOGY INDUSTRY EXTENDS HAND TO PRINT MEDIA
The digital age has broken the financial pillars of print journalism. But more frequently — and with a boom last week, when Jeffrey P. Bezos, the founder of Amazon.com, bought The Washington Post — the tycoons who have led the digital revolution are giving traditional print outlets a hand. Google began financing journalism fellowships for eight people this year. The founder of Craigslist, the free listing service that helped ruin newspapers’ classified advertising, helped finance a book on ethics for journalists. A co-founder of Facebook recently bought New Republic magazine. And the founder of eBay, another classified ad killer, started an online news service in Hawaii.
3-D’S APPEAL WANES, BUT NEW RELEASES ARE STILL PLANNED
After sampling three-dimensional viewing in films as breathtaking as “Avatar” and “Life of Pi,” filmgoers in North America are drifting back to conventional theaters despite an aggressive digital conversion program by exhibitors. This summer, films like “Turbo” and “The Wolverine” took in 30 percent or less of their opening weekend receipts from 3-D sales, compared with levels as high as 60 percent for summer films only a few years ago. According to the IHS research firm, receipts from 3-D ticket sales at the North American box office fell 13.1 percent in the first half of 2013, to about $1.05 billion, from $1.21 billion in the year-earlier period.
WITH IPOS ON THE RISE, ANALYSTS GET NEW SCRUTINY
The market for initial public offerings has made a comeback, and at the same time, concerns have resurfaced over the role of Wall Street research analysts in these lucrative deals. For years, stock analysts have been barred from pitching IPO business, a big moneymaker for firms like Goldman Sachs, JPMorgan Chase and Citigroup. Banking fees from helping companies list their shares on stock exchanges have topped $1.7 billion in the United States so far this year. The country’s largest banks agreed to bar their analysts from IPO solicitations a decade ago, but some analysts say Wall Street is slipping back into its old ways.
KOREAN BRANDS STRUGGLE TO GAIN TRACTION IN JAPAN
Samsung Electronics may be the largest consumer electronics company in the world. LG, the other giant electronics maker in Korea, has a significant share of television and washing machine markets in Europe and the United States. But in Japan, consumers have not caught on that elsewhere in the world some Korean products are knocking Japanese rivals off the shelves. However, this last holdout is finally being cracked open. In 2008, LG stopped selling its televisions in Japan, but it reintroduced them two years later. Now many of the biggest electronics retailers in Japan, including the No. 1 player, Yamada Denki, and the second-biggest chain, Biccamera, sell LG TVs.