Warriors and Kobe in ESPN ratings shootout - who won?

Warriors and Kobe in ESPN ratings shootout - who won?

History beat out a grand finale.

kobe bryant steph curry april 13 The Golden State Warriors and Kobe Bryant put on a big show in terms of ratings for ESPN on Wednesday.


History beat out a grand finale. At least in terms of ratings.

The overnight ratings for the Golden State Warriors 73rd win, the most wins in NBA history, edged out the final game of one of the NBA's best known players of the last 20 years, Kobe Bryant.

Golden State's march to 73 brought in an average viewership of 3.6 million viewers for ESPN on Wednesday night.

That just out shot the average viewership of 3.4 million for ESPN 2, which broadcasted Bryant scoring an electrifying 60 points in his career ending appearance to help the Los Angeles Lakers defeat the Utah Jazz.

The Warriors game peaked at 4.2 million viewers at 11 p.m. to 11:30 p.m. EST, which was roughly the second quarter of the game.

The Lakers game peaked at 5.1 million viewers at 1 a.m. to 1:15 a.m. which came towards the end of the game when Bryant pushed to 60 points.

The viewership numbers for both games are decently impressive for the sports network seeing that the games didn't tip off until 10:30 p.m. on the East Coast.

Both games also set regular season records for ESPN's live streaming app surpassing an average minute audience of 100,000. Bryant and the Lakers bested Steph Curry and the record-setting Warriors 134,000 to 111,000.

The games were also two of the most talked about subjects on social media Thursday night.

The overdrive of social chatter caused the Lakers Twitter account to crash, itself going briefly into retirement.

Sorry about that, everybody.
Kobe got too hot for the Twitter servers.

— Los Angeles Lakers (@Lakers) April 14, 2016

"Sorry about that, everybody," the account tweeted. "Kobe got too hot for the Twitter servers."

CNNMoney (New York) First published April 14, 2016: 12:18 PM ET

Sumner Redstone will not be deposed

Sumner Redstone will not be deposed

Sumner Redstone will not have to submit a deposition to help determine his mental competency.

sumner redstone viacom

The decision came Thursday after Redstone's lawyers said they were removing him from a list of possible witnesses at trial, which is scheduled to start in about three weeks.

Redstone's ex-girlfriend, Manuela Herzer is seeking to have Redstone, 92, deemed mentally incompetent when he rescinded her decision-making authority over his health affairs last year.

Herzer's attorneys have argued that if Redstone, the former chairman of Viacom and CBS Corp , was going to testify at trial, he should be ordered to give a deposition during the discovery phase.

Now, Redstone's attorneys say he won't be listed as a potential witness.

Herzer's lawyer claim the judge's ruling was a victory.

"The failure to produce Redstone dooms their defense," attorney Pierce O'Donnel said in a statement. "Without Redstone testifying, they cannot demonstrate his mental competency in the face of distinguished expert psychiatric reports and a mountain of evidence that Redstone is tragically incapacitated and unable to make his own health care decisions."

Redstone's legal team did not respond to requests for comment.

Redstone gave Herzer control over his health affairs while they were still in a relationship, but the pair separated last October. That's when Redstone signed a health care directive that rescinded her decision-making power.

Herzer has been fighting to have a judge discredit that document, saying Redstone is a "living ghost" who "lacked the mental capacity" to make the decision. An image of the document shows Redstone's signature as an illegible scrawl.

Redstone's legal team have claimed in court papers that Herzer is more concerned with Redstone's wealth than his health.

Herzer stood to inherit millions and his mansion in California before Redstone ended their relationship.

AMC Theatres says it's not going to allow texting at the movies

AMC Theatres says it's not going to allow texting at the movies

The theater chain announced on Friday that an idea floated by AMC CEO Adam Aron to allow texting in theaters is not going to become a reality.

amc texting AMC say no to texting at the movies after reports that the theaters chain would it allow it in the future.


"NO TEXTING ALLOWED" will still play before your favorite movies at AMC Theatresnow and in the future.

"Unlike the many AMC advancements that you have applauded, we have heard loud and clear that this is a concept our audience does not want," the company said in a statement. "This is an idea that we have relegated to the cutting room floor."

In an interview with Variety, Aron explained that one way to attract younger moviegoers would be to make theaters more "texting friendly."

"When you tell a 22-year-old to turn off the phone, don't ruin the movie, they hear please cut off your left arm above the elbow," he told Variety. "You can't tell a 22-year-old to turn off their cellphone. That's not how they live their life."

Aron's comments almost immediately caused a backlash on social media leading to AMC nipping the idea in the bud.

"There will be NO TEXTING ALLOWED in any of the auditoriums at AMC Theatres," the company added. "Not today, not tomorrow and not in the foreseeable future."

Instead, AMC said they would focus on other ideas and investments like better screening and sound technology, to make its theaters better for audiences.

Other theater chains like Alamo Drafthousealso took the opportunity to take a stance against the filmgoing faux pas.

"Regardless of your age, turning off your phone and focusing on a good movie is much-needed therapy," Tim League, CEO of Alamo Drafthouse, said in a statement. "This time of focus in a darkened room is core to the experience of cinema. Only with this focus can you lose yourself completely in the story and really fall into the magic spell of the movies."

Gabriel Snyder out at the New Republic

Gabriel Snyder out at the New Republic

In a memo to staff on Thursday, Snyder said that the June issue will be his last.

gabriel snyder


Gabriel Snyder, the editor-in-chief at the New Republicwho joined the magazine amid internal turmoil, is leaving his post.

"Though I'm sad to depart, I am immensely proud of our accomplishments over the last 17 months," Snyder said.

Snyder took over at the New Republic in 2014 in a shakeup that prompted an exodus from the storied liberal magazine. He replaced Franklin Foerwhen the New Republic's then-owner, Facebook co-founder Chris Hughes, tried to reshape the century-old publication into a more digital-focused news company.

The New Republic underwent a redesign, and shifted from a bi-weekly to a monthly publication. Hughes also moved the magazine's headquarters from Washington, D.C., to New York.

Snyder, meanwhile, acquired the personnel to help execute the new vision, hiring a number of popular internet writers and others with experience in online media.

But the magazine experienced more upheaval at the beginning of the year when Hughes announced that he was putting it up for sale.

Hughes said he had invested more than $20 million to help the transition, but reached the conclusion "that it is time for new leadership and vision at The New Republic." In February, Hughes sold the magazine to Oregon-based publisher Win McCormack.

McCormack tapped Hamilton Fish, the former publisher of the Nation, to serve as the New Republic's editorial director.

The change of ownership came at a moment when the New Republic was enjoying a surge in web traffic. The website drew 2.1 million unique visitors in January, according to comScore, up from 1.4 million the year before. In February, the website had 2.7 million visitors, its highest total since November of 2014.

But the changes at the top augured Snyder's departure.

"I think everyone understood that it made sense for me to step aside and to let new editorial leadership come on," Snyder told CNNMoney. "New owners have new vision, so it will be exciting to see what they have in store."

Although he said the decision was mutual, Snyder, 39, sounded melancholy as he looked ahead to his exit.

"I'm sad because I couldn't be more proud of the team of editors and writers and everyone else I've been working with," he said. "I think the work we put out had just been getting better and better as each month went by."

"I'll regard this last year as the highlight of my career," he added.

Snyder, a former editor at Gawker who also had stints at Bloomberg and the Atlantic, said he isn't sure where he will head next.

In a memo sent to staff on Thursday, Fish said the magazine has "a brighter future" thanks to Snyder's contributions.

"In addition to bringing many of the talented editors and writers we have on staff today, Gabriel has put his distinctive mark on what a political and cultural institution looks like in 2016," Fish said.

In his own memo, which was provided to CNNMoney, Snyder celebrated the staff he helped assemble.

"We built an editorial team composed of new voices reflective of the breadth of American experience. You have announced a new generation, committed to the highest standards of journalism," he said. "We demonstrated how digital fluency can amplify our best literary traditions rather than compete with them. We participated in and shaped discussions of vital issues during a crucial election year. Mostly, though, we published some damn fine work, sometimes under difficult circumstances. Every single day, your indomitable talent and work ethic has humbled me."

What's next for David Gregory

What's next for David Gregory

David Gregory is launching a podcast -- which means he is unlearning some of what he learned on "Meet the Press."
While hosting NBC's Sunday morning political show, his questions were designed to "make news," in TV parlance, within the few minutes allotted for an interview.

david gregory quote

While hosting NBC's Sunday morning political show, his questions were designed to "make news," in TV parlance, within the few minutes allotted for an interview. The guests were almost always political dignitaries, and the straight-laced shows were perfectly timed to the second.

Podcasts are pretty much the opposite: free-wheeling, intimate and in-depth.

"That's what's cool about podcasting," Gregory said. "It's different -- the informality of it, the conversational feel."

"The David Gregory Show,"which will be published weekly, starts on Friday in a deal with E.W. Scripps Company.

Scripps, the owner of local TV and radio stations, is seeking to diversify by adding podcasting to its portfolio. Last year the company acquired Midroll Media, which has a network of advertiser-sponsored podcasts called Earwolf.

Gregory's debut guest is Bravo host Andy Cohen.He has also taped conversations with Arianna Huffington, Dan Balz, Elizabeth Alexander, Jon Meacham and Sam Harris. He is set to interview Mitt Romney on Friday.

Former NPR executive Ellen Weiss, now the Washington bureau chief for Scripps, is working with Gregory on the new venture.

"I had to get used to the idea that I could sit down and spend an hour with someone," Gregory said in an interview with CNNMoney.

"My mindset was, 'I have to be on point. I have to be on topic. I can't just meander.' Ellen said, 'Actually, yes, you can meander.'"

At NBC News, Gregory walked a straight line. He spent 20 years at the network, six of those as the moderator of "Meet the Press," but was replaced in 2014. In the book he wrote afterward, titled "How's Your Faith?," he called his departure "the lowest moment of my professional career."

So there's naturally some curiosity about what's next for him. His short answer is "I don't know."

As of last month, Gregory, 45, is a part-time political analyst for CNN,mainly appearing on the morning show "New Day." He has the podcast. He speaks in public setting about his book. And he's going to be teaching at Tufts University.

"I'm not trying to engineer any particular path," he said, when asked if he's aspiring to host a TV morning show or a "Charlie Rose" style interview show.

"I'm trying to find a portfolio that's interesting; and be a part of different teams; and try new things."

A podcast is one of them.

The "Meet the Press" discipline, he said, was to ask, "How can I make news today? How can I advance the story?" But in the recording studio, "I'm not in a formal setting. And I'm more of a participant in the conversation."

On CNN, Gregory is an analyst. On the podcast, he is an interviewer, able to show a wide range of interests, whether with an entertaining figure like Cohen or an atheist author like Harris.

With Alexander, the acclaimed, poet, "My approach was to ask, 'How do you come to really appreciate poetry, how do you do that?' We also ended up talking about Black Lives Matter, the Obama presidency, and how to write."

While public radio existed when Gregory started working at NBC in the '90s, the notion of podcasting did not.

The archetypal TV newsman described himself "stepping back, outside of a network, taking a look at the media landscape" for the first time in decades, and noticing the ways his own media consumption is changing.

"I'm consuming a lot of news and listening to podcasts and watching things live on my phone," he said. "I want to be relevant in that space."

Col Allan, longtime New York Post editor-in-chief, to retire

Col Allan, longtime New York Post editor-in-chief, to retire

Col Allan, the editor-in-chief of the New York Post, is retiring at the end of the month.

col allan ny post retiring

Allan announced his retirement late Thursday.

Allan, an Australian, became a trusted lieutenant to Rupert Murdoch and is the longest serving editor at Murdoch's News Corp.

He was the editor of the Daily Telegraph in Sydney, Australia, when Murdoch tapped him to move to New York in 2001.

During his tenure, a fierce money-losing circulation war was waged between the Post and the New York Daily News, but neither paper could knock out the other.

In 2004, the paper's daily circulation was 678,000, and online news hadn't begun to erode their distribution. The Post currently claims a daily circulation of 424,000,with a New York distribution of 257,000.

"Col Allan is one of the most outstanding editors of his generation," Murdoch, executive chairman of News Corp., said in a statement. "Col's intelligence, insight, humor and unrelenting energy has created the New York Post that today stands as a newspaper of great influence, in print and online."

"As editor of the Post, he has driven a news agenda that has been essential reading for New York's leadership, as well as serving all who live in this great city," Murdoch said.

The Post expanded its digital audience "more than tenfold, to a record 31.5 million unique users in March" with Allan at the helm, according to the company.

"It has been an enormous privilege to edit this great paper," Allan said in a statement.

Stephen Lynch, who is currently the Sunday editor of the Post, will take over beginning on May 1. Lynch has been with the newspaper since 2003. He will be reporting to Jesse Angelo, publisher and chief executive of the Post.

CBS head Les Moonves' pay dipped for second year in a row

CBS head Les Moonves' pay dipped for second year in a row

CBS head Les Moonves took in nearly $56.8 million last year -- keeping him among the country's highest-paid executives.

CBS CEO Les Moonves netflix_00004420 CBS CEO Les Moonves took home nearly $57 million in 2015

The bulk of his earnings came in the form of $25.5 million in stock awards and a $19 million bonus. That was on top of a $3.5 million base salary, according to filings with the Securities and Exchange Commission Friday.

He also received $7.2 million in stock options, in addition to other compensation, according to the filings.

Moonves' 2015's earnings actually represented a decrease from the $57.2 million he earned in 2014 and the $67 million he took home in 2013.

Nevertheless, the income is impressive given the fact that CBS shares declined 14% last year, while revenues rose just 0.6% (to $13.9 billion.)

Moonves, who has been CEO of CBS since 2003, might see an even bigger payday this year since he recently took over as the network's executive chairman-- replacing ailing mogul Sumner Redstone. He has also remained in his role as the company's CEO and chief executive officer.

Redstone, who until February served as chairman of both CBS and Viacom, is currently embroiled in a lawsuit over the management of his healthcare. He earned just $1.8 million in 2015, down from $10.8 million the year before.

Col Allan, longtime New York Post editor-in-chief, to retire

Col Allan, longtime New York Post editor-in-chief, to retire

Col Allan, the editor-in-chief of the New York Post, is retiring at the end of the month.

col allan ny post retiring

Allan announced his retirement late Thursday.

Allan, an Australian, became a trusted lieutenant to Rupert Murdoch and is the longest serving editor at Murdoch's News Corp.

He was the editor of the Daily Telegraph in Sydney, Australia, when Murdoch tapped him to move to New York in 2001.

During his tenure, a fierce money-losing circulation war was waged between the Post and the New York Daily News, but neither paper could knock out the other.

In 2004, the paper's daily circulation was 678,000, and online news hadn't begun to erode their distribution. The Post currently claims a daily circulation of 424,000,with a New York distribution of 257,000.

"Col Allan is one of the most outstanding editors of his generation," Murdoch, executive chairman of News Corp., said in a statement. "Col's intelligence, insight, humor and unrelenting energy has created the New York Post that today stands as a newspaper of great influence, in print and online."

"As editor of the Post, he has driven a news agenda that has been essential reading for New York's leadership, as well as serving all who live in this great city," Murdoch said.

The Post expanded its digital audience "more than tenfold, to a record 31.5 million unique users in March" with Allan at the helm, according to the company.

"It has been an enormous privilege to edit this great paper," Allan said in a statement.

Stephen Lynch, who is currently the Sunday editor of the Post, will take over beginning on May 1. Lynch has been with the newspaper since 2003. He will be reporting to Jesse Angelo, publisher and chief executive of the Post.

Apprentice' alums denounce Donald Trump

Apprentice' alums denounce Donald Trump

'Apprentice' alums denounce Donald Trump
Former 'Apprentice' contestants slam Trump
With Donald Trump inching closer to the White House, contestants from his show "The Apprentice" are choosing sides.

A media-savvy group of six former contestants held a press conference on Friday to tell Trump "you're fired!"

One of the speakers, season one runner-up Kwame Jackson, said Trump does not have the right "temperament" to be president and accused the GOP frontrunner of appealing "to the lowest common denominator of fear, racism and divisiveness in our populace."

"Let us choose Kennedy over Kardashianism," Jackson said.

But other stars from the reality TV show, like Piers Morgan and Omarosa Manigault, have been more supportive of the businessman's candidacy.

In a statement, Trump called the former contestants "six failing wannabes out of hundreds of contestants."

"How quickly they forget. Nobody would know who they are if it weren't for me," he said, adding, "They just want to get back into the limelight like they had when they were with Trump. Total dishonesty and disloyalty."

Friday's press conference was led by Season 4 winner Randal Pinkett, who has been an outspoken critic of Trump's campaign since last summer.

"We acknowledge Donald's success as a businessman, and genuinely appreciate the opportunity 'The Apprentice' afforded all of us," Pinkett said in a statement. "We, however, strongly condemn Donald's campaign of sexism, xenophobia, racism, violence and hate."

Trump hosted "The Apprentice" and its celebrity spin-off edition from 2004 through early 2015. Nowadays, on the campaign trail, he is fond of citing his experience on the show and its success in the ratings.

He sometimes reprises his tag line -- "you're fired" -- to great effect at rallies.

The television hosting skills that Trump honed through "The Apprentice" have also come in handy during the campaign.

But perhaps there's a downside to his decade plus on the NBC show -- the former contestants who detest him.

Along with Pinkett, the other attendees at Friday's press event were Kevin Allen, Tara Dowdell, Marshawn Evans Daniels, James Sun and Kwame Jackson.

Trump is "stoking the flames of our worst demons," Jackson, the season one runner-up, said in a statement ahead of Friday's event.

Morgan, on the other hand, has been a welcome friend to Trump.

Morgan won the first season of "The Celebrity Apprentice." While he has occasionally critiqued Trump's controversial positions, but he has also defended Trump many times.

This week he tweeted that "lots of people" are writing off Trump, but "I still believe he'll win GOP nomination & the general election."

Correction: An earlier version of this story incorrectly said Morgan won the first season of "The Apprentice."

Democrats' 'battle in Brooklyn' drew 5.6 million viewers

Democrats' 'battle in Brooklyn' drew 5.6 million viewers

The Brooklyn Democratic debate in 90 seconds
The "battle in Brooklyn" was joined by 5.6 million viewers on Thursday night.

According to Nielsen ratings data, about 5.4 million tuned in to CNN, and another 171,000 watched on Time Warner Cable News NY1, the debate's co-sponsor.

Total viewership on Thursday was roughly in line with the viewership for the two Democratic debates last month.

The results suggest that the Hillary Clinton-Bernie Sanders match-ups are drawing a core, loyal audience but not much curiosity beyond that.

CNN's debate in Flint, Michigan, on March 6 had 5.5 million viewers. Univision's debate in Miami, Florida, on March 9, simulcast on CNN, had 5.9 million viewers combined.

For comparison's sake, the most recent GOP debate, CNN's face-off in Miami, Florida on March 10, totaled 11.8 million viewers.

No further GOP debates are scheduled, and it remains to be seen if Clinton and Sanders will debate again.

The Democratic National Committee and the two campaigns have laid the groundwork for one more debate, to be held sometime in May, but there isn't a specific date or host locked in yet.

So for now Thursday's combative session between Clinton and Sanders is the last.

In the key advertiser demographic of 25- to 54-year-olds, 1.8 million viewers tuned in.

J.J. Abrams gives a big clue about Rey's parents in 'Star Wars'

J.J. Abrams gives a big clue about Rey's parents in 'Star Wars'

Star Wars: The box office guide
Speaking at New York's Tribeca Film Festival on Friday night, the director of " Star Wars: The Force Awakens , said that the parents of the film's heroine, Rey, were not in the hit Disney ( DIS ) film.

J.J. Abrams just gave a big clue to one of the biggest mysteries in the " Star Wars" universe.

"Rey's parents are not in Episode VII," Abrams said to the audience. "So I can't possibly at this moment tell you who they are."

The fact the character played by Daisy Ridley can use the film's all powerful Force has fans of the saga speculating that she may be the daughter of "Star Wars" characters like Luke Skywalker or Princess Leia and Han Solo.

J.J. Abrams reveals Rey's parents aren't in The Force Awakens @slashfilm pic.twitter.com/O2j8gFNqtF

— emily chi (@theemilychi) April 15, 2016

However, Abrams' comments appear to take those characters out of the running seeing that they were all in "Force Awakens."

Since opening in December, "The Force Awakens" has shattered box office records before going on to make more than $2 billion worldwide.

The next film in the series, Episode VIII, is set for release on December 15, 2017.

Maybe Episode VIII will have a character tell Rey, "I am your father," but until then fans will just have to keep guessing.

CNNMoney (New York) First published April 15, 2016: 11:07 PM ET

How Rupert Murdoch warmed up to Donald Trump's candidacy

How Rupert Murdoch warmed up to Donald Trump's candidacy

Former 'Apprentice' contestants slam Trump
The Post, of course, is owned by Murdoch, once a vocal critic of Trump's presidential campaign.

The most intriguing part about the New York Post's endorsementof Donald Trump might be what it says about the relationship between the candidate and Rupert Murdoch.

The Post, of course, is owned by Murdoch, once a vocal critic of Trump's presidential campaign. The tabloid's endorsement comes amid a thaw in tensions between Trump and Murdoch's media empire.

Trump and Murdoch have had several meetings and conversations in recent months, according to sources close to both men. Those discussions were brokered by Trump's son-in-law Jared Kushner, the owner and publisher of the New York Observer, the sources said.

Kushner, who helped write Trump's speech at the American Israel Public Affairs Committee conference last month, encouraged Murdoch to have a dialogue with the Republican frontrunner.

Over the course of these discussions, Murdoch has apparently come to see Trump not only as a serious candidate with potential, but also as the GOP's inevitable nominee, the sources told CNNMoney.

trump murdoch post

It's a far cry from where their relationship stood last summer. At that point in the campaign, Murdoch said that Trump was "embarrassing his friends" and "the whole country."

After Trump made harsh comments about John McCain's service in the Vietnam War, the Post ran a cover depicting Trump on a raft with an encircling shark lurking behind. "Don Voyage!" blared the headline. In its endorsement on Thursday, the Post's editorial board said Trump "has the potential -- the skills, the know-how, the values -- to live up to his campaign slogan: to make America great again."

"It's a big journey from 'Don Voyage' to endorsing," one of the sources told CNNMoney.

Murdoch's evolution is discernible through his Twitter feed, which has gone dormantsince his marriage last month. He said in July that Trump was "wrong" with his inflammatory comments about Mexican immigrants and crime. In November, Murdoch defended Ben Carson, who Trump had likened to a child molester.

"Trump finally loses it," Murdoch tweeted at the time.

But Murdoch softened his tone after the new year. He said in January that "many influential Republicans" were beginning to recognize the inevitability of a Trump nomination. And Murdoch, a conservative power broker, cautioned the GOP last month against opposing Trump.

"If he becomes inevitable party would be mad not to unify," he tweeted.

When is Donald Trump going to stop embarrassing his friends, let
alone the whole country?

— Rupert Murdoch (@rupertmurdoch) July 19, 2015

Trump has clearly been chafed by the criticism from Murdoch and his media properties.

"Murdoch's been very bad to me," Trump told New York Magazine in a story published earlier this month.

The Murdoch-owned Wall Street Journal has especially infuriated Trump.

In February, Trump trashed a poll commissioned by the Journal as a "Rupert Murdoch hit." (Murdoch responded by telling Trump in a tweet to "calm down.") Trump has also repeatedly gone after the paper's editorial board, which has been highly critical of his campaign.

"The good news is, nobody cares what they say in their editorials anymore, especially me!" Trump tweeted last month.

On Thursday, hours before the Post's endorsement appeared online, the Journal published an editorial authored by Trump.

Trump's on-again-off-again feud with Fox News and the channel's star anchor Megyn Kelly appears to have reached detente, too. Kelly sat down with Trump earlier this week to "clear the air." After that face-to-face meeting, Trump had lunch with Fox News chief Roger Ailes. Trump may even appear on a Kelly special next month.

The Post was not exactly full-throated in its endorsement, however. The tabloid's editorial board even echoed some of Murdoch's concerns, calling Trump "thin-skinned" and questioning some of his proposals, including on immigration.

The endorsement said Trump's signature policy -- to build a wall on the United States-Mexico border -- "is far too simplistic" and his language "has too often been amateurish, divisive -- and downright coarse."

"But what else to expect from someone who's never been a professional politician and reflects common-man passions?" the editorial read.

In a statement provided to CNNMoney, Trump spokeswoman Hope Hicks said, "Mr. Trump is proud to receive the endorsement and has always had great respect for Mr. Ailes and Mr. Murdoch."

Hicks did not respond to an inquiry about the recent dialogue between Trump and Murdoch. A spokesman for Murdoch's company, News Corp, declined to comment.

CNNMoney (New York) First published April 15, 2016: 3:35 PM ET

Disney hoping 'Jungle Book' has bare necessities for box office hit

Disney hoping 'Jungle Book' has bare necessities for box office hit

'The Jungle Book' is the latest Disney forgotten franchise
Pixar, Marvel, Lucasfilm.

These are the big three Disney franchises everybody knows about, but it has another blockbuster formula that doesn't get as much attention: live action reboots of its animated classics.

The latest in the line of live action reimaginings is "The Jungle Book," which swings into 4,028 theaters this weekend.

The film brings the 1967 animated film to life thanks to visual effects and voice talent from Bill Murray and Scarlett Johansson. It is projected to bring in $70 million to $80 million in North America this weekend, according to box office analysts. It made $4.2 million in its preview showings in the U.S. on Thursday night.

Disney is being less wild with its forecasts predicting an opening around the mid-to-high $60 million range. Disney budgeted the film for $175 million.

"The Jungle Book" is the latest Disney live action animated reboot following 2010's "Alice in Wonderland," 2014's "Maleficent," and 2015's " Cinderella."

Those three films may not have gotten the attention of an "Captain America: Civil War" or a " Star Wars: The Force Awakens," but they have brought in a combined $2.3 billion worldwide.

mowgli bagheera "The Jungle Book" swings into theaters this weekend, and the live action remake of the animated classic looks to bring a big box office for Disney.

"Disney has had a pretty supercalifragilistic box office track record with their live action reboots of their animated classics," said Paul Dergarabedian, senior media analyst for comScore . "By going to their extensive vault and re-imagining these titles as live action epics has provided yet another creative source and revenue stream for the company."

Disney is not even close to being done scavenging though its vault.

The studio has in the works live action reboots based on classics like "Beauty and the Beast," "Dumbo," "Peter Pan," "Pinocchio," "Winnie The Pooh," "The Sword in the Stone," "Mulan," and even "Night on Bald Mountain," which is a segment from the 1941 film, "Fantasia."

The studio even already has plans to produce a sequel to "The Jungle Book."

"Jungle Book," which is directed by "Iron Man" director Jon Favreau, may prove to be the king of the box office jungle this weekend thanks to strong reviews from critics.

Its 93% critics score on review site Rotten Tomatoesand family friendly PG rating should have kids and adults wanting to return to the jungle with Baloo and Mowgli.

Bernie Sanders wants to kill fracking boom

Bernie Sanders wants to kill fracking boom

If Bernie Sanders becomes president, America's fracking boom will be in danger.

bernie fracking

This week the Democratic presidential candidate called for a national ban on fracking, the controversial drilling technology that has not only led to a massive boom in oil and natural gas, created thousands of new jobs but also been linked to water contamination and even earthquakes.

"If we are serious about combating climate change, we need to put an end to fracking, not only in New York and Vermont, but all over this country," Sanders said during a speech in Binghamton, New York this week.

The anti-fracking crusade marks an escalation for Sanders, who previously introduced legislation to ban fracking on federal lands. It also pressures his rival, Hillary Clinton, to endorse a fracking ban, which is something Vermont and New York have already done.

"Fracking pollutes water, degrades air quality and worsens climate change. No amount of regulation can make it safe," Sanders said on Twitter.

Environmentalists cheered the Sanders fracking ban proposal, but others are worried about the consequences for the economy and national security.

Killing fracking would also kill jobs

After all, the energy boom helped lead America out of the Great Recession, thanks largely to fracking, which now accounts for half of all U.S. oil production.

New oil and gas extraction alone created 725,000 U.S. jobs between 2005 and 2012, lowering the unemployment rate by 0.5%, according to a 2015 study by Dartmouth professors.

Fracking has also been a boon to consumers, with excess U.S. supply causing oil prices to crash to $26a barrel earlier this year. The average American family saved an estimated $750 last yearon cheaper gas prices.

It's reasonable to conclude any ban on fracking would raise oil and gas prices. A fracking ban would also darken the already-troubling employment picture in the U.S. energy industry, which has slashed thousands of jobs.

"Slamming the brakes on fracking now or in the future would be extremely damaging," said Sheila Hollis, a partner and energy specialist in the law firm Duane Morris.

The American Petroleum Institute, which represents big oil and gas producers, told CNNMoney the Sanders proposal is mere "fear mongering."

Certain communities in Western Pennsylvania and Ohio are enjoying "economic growth for the first time in a generation" thanks to fracking, according to Louis Finkel, executive vice president for government affairs at API.

Fracking has also made America less reliant on oil from unfriendly countries in the Middle East. U.S. oil production has nearly doubledover the past decade and now only trails the world's top producers: Saudi Arabia and Russia.

Real concerns but real need for fossil fuels

However, there are real environmental concerns over fracking. Environmental worries were highlighted by a 2010 HBO documentary called "Gasland" that focused on residents who have experienced chronic health problems traceable to contamination of their air and their water from fracking.

Last month government scientists warned that 7.9 million peopleare now at risk of earthquakes believed to mostly be triggered primarily by the disposal of waste water as part of oil and gas drilling. Fracking involves shooting a mixture of mostly water and sand under high pressure against a rock formation until it fractures. The sand fills the fracture, oil and gas out of the rock formation.

Also renewable sources of energy like solar are not yet ready to carry the torch. Even the U.S. Energy Information Administration forecasts that fossil fuels will supply the vast majority of U.S. energy until at least 2040.

The Independent Petroleum Association of America told CNNMoney that any attempt to "stifle" the U.S. oil and gas industry "is not only misguided but impractical policymaking."

Clinton no friend of frackers either

The anti-fracking crusade by Sanders is putting pressure on Clinton, who has stopped short of endorsing an outright ban on fracking.

This week Sanders saidthe recent Keystone oil pipeline leakshows why he was against the Keystone XL pipeline extension from the beginning. He has criticized Clinton as being late to oppose the controversial project.

Sanders also put out a new adnarrated by Susan Sarandon trumpeting him as the only presidential candidate opposed to fracking everywhere. The ad claims Washington politicians "side with polluters over families" because "big oil pumps millions into their campaigns."

Clinton doesn't sound like a friend to frackers either though. In last month's CNN debate in Flint, Michigan, Clinton said she doesn't support fracking in states that don't want it, if it causes pollution or if the chemicals used aren't disclosed.

"By the time we get through all of my conditions, I do not think there will be many places in America where fracking will continue to take place," Clinton said.

Glittering: Gold's brightest quarter since 1986

Glittering: Gold's brightest quarter since 1986

Why gold is considered an investing safe haven
Gold is glittering like it hasn't in three decades.

A mixture of early 2016 market turmoiland an erosion of confidence in central banks sent gold spiking 16.5% to $1,234 an ounce in the first quarter. It's the best quarter for the precious metal since 1986.

Gold isn't just on fire. It's crushing virtually every other asset class this year. While U.S. stocks have erased their huge losses, stocks in Europe, the U.K. and Japan are still stuck in the red. Bonds are up mostly, but gold's gains shine the brightest. The popular SPDR Gold Trust ETF surged 16%, its best quarter since launching in 2004.

All of this is a reflection of gold's role as the ultimate safe haventhat investors turn to when they're scared. And clearly many people were very scared as the Dow got off to its worst start to a year ever, China's economy seemed to be slowing drastically and the crashin oil prices freaked Wall Street out.

"You had the panic trade where when people see volatility they rush to safe assets like gold. There was this perfect storm of events," said Nicholas Colas, chief market strategist at ConvergEx.

gold vs stocks 2016

Fear caused investors to pour $13.4 billion into gold assets during a recent 11-week stretch, the largest sustained weekly inflow since the 2009 financial crisis, according to Bank of America Merrill Lynch. Compare that to the final quarter of last year when investors yanked $2.6 billion from gold.

Gold has also benefited from increased skepticism over the waning power of global central banks to juice their economies. Investors are concerned the U.S. Federal Reserve has few tools left to use in a crisis.

There's also a great deal of doubt over central banks' unorthodox tactics, especially the unforeseen consequences linked to negative interest rateslaunched by the European Central Bank and Bank of Japan. Prominent investor and gold bull Jeff Gundlach recently warnedthat negative rates are "really bad" and will "backfire like an old Model-T."

The World Gold Council thinks the negative rate trend may result in higher demand for gold because it "erodes confidence" in currencies and increases "uncertainty and market volatility."

Even though gold is looked at as a fear trade, it's still subject to laws of supply and demand. Colas of ConvergEx notes that gold production declined in the fourth quarter for the first time in years and could do so again this quarter.

Of course, it's worth pointing out that even after the terrific start to 2016, the price of gold remains a long way from its all-time high of $1,923 set in September 2011.

Not surprisingly, gold's momentum eased considerably after global markets calmed down in mid-February. The yellow metal is actually down 1% since February 11. By comparison, the S&P 500 is up 13% since then, while emerging market stocks have soared 18% and oil has spiked over 40%.

Royal Bank of Canada warns gold bugs an outright decline could be coming next for gold.

"We think gold should consolidate at a lower level than set this quarter, at least in the near-term," RBC wrote in a report.

Delta avoids turbulence despite oil price spike

Delta avoids turbulence despite oil price spike

What is a low-cost carrier?

It looks as though smoother skies may finally be ahead for Delta -- even as oil prices continue to rebound.

Delta reported better than expected first-quarter earnings on Thursday, despite charges the airline took to reflect the strength of the dollar as well as the impact from the terrorist attacks in Brusselslast month.

The airline also predicted that results would improve for the second quarter, as well.

Shares of Delta rose 2% on the news. Delta's stock is still down year-to-date, though, as are shares of many other airlines.

But the worst may soon be over.

Ed Bastian, the incoming CEO of Delta, said in the earnings release that Delta "will continue to be disciplined with our business in the face of volatile fuel prices." Bastian is replacing Richard Anderson, who is retiring in May.

Oil prices have risen sharply in the past few weeks. But Delta, like other airlines, uses financial hedges to help minimize the impact that fuel costs have on its operations.

"investors were too bearish on airlines," said Mike Bailey, director of research at FBB Capital Partners. "People were caught off guard thinking that the recent spike in oil would be a big negative. But it looks like hedging helped."

While most airlines use hedges, Delta took it a step further a few years ago by purchasing its own refinery in order to help offset fuel price swings.

Still, hedging is just one piece of the puzzle. Delta executives would rather see more of an improvement in its actual business operations.

Glen Hauenstein, the airline's incoming president, said in the earnings report that the company is not yet satisfied with its financial performance.

Despite the better profits, Delta's passenger unit revenue, a key measure of an airline's sales, is still expected to slip in the second quarter -- albeit at a slower pace.

Hauenstein said in the earnings release that Delta wants to see this important figure start to increase in the coming months. And if it doesn't, he said Delta would make adjustments to its capacity levels this fall. Translation: Fewer flights and higher fares.

This is yet another sign that the days of punishing price wars among airlines are long gone. They are no longer desperately seeking (Susan?) people to fill as many seats as possible.

Along those lines, Bailey said that Alaska Air's recent decision to buy Virgin America could wind up being another positive for Delta and other airlines.

The number of major national carriers has been whittled down to just a handful over the past few years. The remaining players are now acting in a more financially responsible manner as a result.

That means more (and higher) fees. And fewer fare wars. That's not great news for frequent fliers, but it's music to the ears of airline CEOs and their investors.

"More consolidation could help Delta and other airlines," Bailey said, suggesting Southwest and JetBlue could look to acquire rivals in the coming years.

Bailey didn't rule out the possibility of Southwest, which recently acquired regional carrier AirTran, purchasing JetBlue at some point down the road either.

But for now, investors are going to remain focused on just how airlines navigate an uncertain global economy. So far, Delta's results seem to indicate that they are doing their best to avoid those nasty air pockets.

Good news for stocks -- Caterpillar leads market

Good news for stocks -- Caterpillar leads market

China seeks economic growth despite obstacles
You've heard about sending a canary into a coal mine to see if it's safe for people to enter?

You've heard about sending a canary into a coal mine to see if it's safe for people to enter? Well, it looks like investors have sent a Caterpillar into the dark, scary coal mine that is the global economy. And it's still breathing.

Caterpillar is the top performing stock in the Dow this year, up 16%.

That is potentially a good sign for the rest of the market since Caterpillar is extremely cyclical and also has significant exposure to what's going on with oil and other commodities -- not to mention China.

Other construction and mining equipment stocks have rebounded sharply as well.

Shares of Japanese construction equipment giant Komatsu have gained nearly 15% year-to-date. Joy Global is up more than 40% this year -- and has doubled from the lows it hit in January.

So will Caterpillar satisfy the bulls when it reports its first quarter earnings on April 22?

Wall Street is cautiously optimistic. The first quarter numbers are likely to be lousy. Analysts are forecasting a 26% decline in sales and more than 60% plunge in profits. But the worst may soon be over.

Analysts have actually raised their earnings forecasts for the second quarter and full year over the past few months.

Scott Colyer, CEO of Advisors Asset Managment Inc., said investors had gotten too bearish about China's economic outlook. That hurt stocks like Caterpillar and other big multinational industrials.

Colyer thinks investors underestimated China's willingness to do whatever it takes (paging Mario Draghi!) from an economic hard landing.

"China is doing what it should be doing to spur economic growth with rate cuts and stimulus. It just takes time to turn it around," Colyer said.

He added that the recent rebound in commodities should be good news for Caterpillar and other companies with ties to energy and basic materials.

"Commodities had been in the dog house for awhile," Colyer said. "But this looks like the last part of an ugly bear market for commodities. Every dog has its day."

It looks like every CAT has its day too.

Trump and Cruz predict stock market 'crash'

Trump and Cruz predict stock market 'crash'

How realistic are candidates' plans to fix the debt?

The two leading Republican candidates for president warn the U.S. stock market is trading at an alarming level.

On Friday, Ted Cruz predicted a stock market "crash will be coming."

Donald Trump calls it a "terrible time" to invest. "We're in a bubble right now," Trump says.

It's a high degree of fear from a party that is normally viewed as pro-business and pro Wall Street.

Trump recently told The Washington Postthat America is on track for a "very massive recession."

Blame the Fed?

Cruz and Trump blast America's central bank, the Federal Reserve, for pumping up the stock market to unrealistic levels.

"The problem with using monetary policy to juice the system is that it creates bubbles," Cruz said Friday on CNBC's Squawk Box.

Trump has similar concerns. In October he told The Hillthat he thought Americans were "being forced into an inflated stock market and at some point they'll get wiped out."

So what do the experts think?

"I agree with them that the market is very richly valued. At some point there will be an adjustment," says Brad McMillan, chief investment officer at Commonwealth Financial Network.

But McMillan believes it's too extreme to call it a bubble. The U.S. economy is still in decent shape, he says, and valuations aren't wildly high.

The Fed cut interest rates to historically low levels -- near 0% -- at the end of 2008 to try to jumpstart the economy after the financial crisis. Only as recently as December did the Fed raise interest rates a tiny bit: 0.25%.

Low rates encourage people to put more money into the stock market since they earn so little interest by saving their money in the bank.

Trump has suggested that Fed chair Janet Yellen is trying to help President Obama's economic track record.

"Janet Yellen for political reasons is keeping interest rates so low that the next guy or person who takes over as president could have a real problem," Trump said.

Experts say America is NOT in a bubble

Yellen dismisses assertions that the U.S. is in an economic or financial bubble.

"This is an economy on a solid course, not a bubble economy," Yellen said last week.

The stock market hit its highest level in 2016 this week. It's not far from its all-time high that occurred in May of last year.

Most investment and economic experts think Cruz and Trump are far too gloomy. Stock prices are higher than they're historic norm, but they aren't at extremes like the dot-com bubble.

In order for the stock market to undergo a dramatic decline of 20% or more, it usually takes one (or more) of three shock factors: the economy falling into recession, a mistake by the Fed or oil and other commodity prices spiking.

"Right now we don't have any of those three aggravating factors," says McMillian.

trump cruz bubble

Hillary Clinton viewed as best for the stock market

Investors believe Hillary Clinton would be the best for the stock market, although Trump is a close second.

Earlier this month, E*Trade and CNNMoney polled 907 investors with at least $10,000 in online brokerage accounts. Twenty-eight percent said Clinton would be best for stocks. A quarter felt Trump would be the ideal for the market. Only 8% thought Cruz would.

Toxic oil loans create trouble for big banks

Toxic oil loans create trouble for big banks

The story behind oil's plunge
Bad oil loans are piling up at big banks.

The Wall Street firms that bankrolled America's oil boom continue to suffer losses linked to loans that look increasingly shaky given the crash in crude prices. And big banks are bracing for more oil loans to implode.

Bank of America on Thursday announced it set aside $997 million to protect from loan losses, mainly in the bank's $22 billion energy portfolio.

Wells Fargo warned of "significant stress" and "deterioration" in the oil and gas space. The problems there forced Wells Fargo to add $200 million in loan-loss reserves, its first increase to this rainy-day fund since 2009.

And JPMorgan Chase increased its provisions for credit lossesby 88%, mostly due to the oil, natural gas and pipeline business. It was enough to cause JPMorgan's first drop in profits since late 2014.

Dick Bove, a banking analyst at Rafferty Capital, said there's "no question" banks are being pressured by the oil crash. "Banks are taking significant charges for loan losses. They are seeing a deterioration of those portfolios," he said.

That's not good because banks are already grappling with a crummy environment. Trading revenue has dwindled and hopes for higher interest rates have been dashed by a cautious Federal Reserve.Extremely low rates make it hard for banks to make money off the difference between the rate they pay depositors and what they charge on loans.

No wonder the financial sector is down 4% this year, the biggest loser in the stock market. Wells Fargo shares slipped another 1% on Thursday, leaving them down 11% in 2016. Other stocks like JPMorgan rose as investors had been fearing worse results.

oil stocks hurting banks 2

Even though toxic oil loans are bringing back memories of the financial crisis, the good news is the problem is nowhere near as scary. Yes, banks probably handed out too much credit to oil companies back when crude was sitting at $100 a barrel. And some of those loans will go bad as $40 oil causes cash flows to plunge, fueling a rise in bankruptcies.

But banks have limited exposure. Energy loans make up just 2.5% of bank assets, Goldman Sachs estimates. That pales in comparison with 2007 when souring mortgage loans represented a scary 33% of their assets. Banks are also better prepared because regulators have forced them to stock up on capital that can absorb losses.

"It would be extremely difficult for the oil and gas industry to generate enough losses to cause a disaster in the American banking industry," said Bove.

However, it's clear cheap oil is causing headaches for big banks. Bove said Wells Fargo is being hurt by the oil crash a bit more than its peers because many of its loans are to riskier companies with junk credit ratings. Wells Fargo said it's now sitting on $1.9 billion of nonperforming oil and gas loans, up 72% from the end of 2015.

Still, Wells Fargo notes that its $41 billion of oil and gas exposure is declining and represents a tiny portion of its overall assets.

Big banks are also guarding against fallout in other parts of the economy. Wells Fargo said it's "actively monitoring" its commercial real estate exposure as well as problems with auto loans in states that rely on the oil industry for employment. Recent research suggests mass oil layoffs may be a factor behind a rise in seriously delinquent subprime car loans.

It will be telling how aggressive banks are about yanking loans to struggling oil companies during the ongoing spring "redetermination" process. This review allows banks to reevaluate the terms of loans that are based on how much oil a company can pump at current prices.

"The banks are not sitting there trying to lose money," said Bove.

Young women are asking for (and getting) more pay than men

Young women are asking for (and getting) more pay than men

5 stunning stats about women in the workplace
Women are likely to be paid less than men hired for the exact same role.

Women are likely to be paid less than men hired for the exact same role. Unless, that is, they're recent college grads, a new study shows.

Women in technology, sales or marketing with two years' or less experience actually got salary offers that were 7% higher than those received by equally inexperienced men, according to the jobs site Hired.

Why are the youngest female workers earning more than men? It could be in part because they're asking for it. Those junior women asked for 2% more in compensation than their male counterparts.

That's a surprising fact when you consider that most women typically asked for less up front -- about $14,000 less on average than a man applying for the same post, the study found.

And the more experience a woman has in a field, the less she's likely to ask for relative to a man with comparable experience.

Overall, women hired for jobs in technology, sales and marking were offered salaries that were 3% less than what men were offered, but at some companies the gender pay gap was as high as 30%, the study showed.

Men received higher salary offers for the same job title at the same company 69% of the time.

"It's difficult to determine whether this is a symptom of unconscious gender bias in the hiring process or results from an ongoing cycle of women being underpaid, setting their salary expectations too low, and ultimately receiving less in subsequent roles," data scientist Jessica Kirkpatrick, the report's author, noted.

Hired also found that the gender pay gap at larger corporations is almost double that of bootstrapped companies or small, seed-stage firms.

Take the job of software engineer. Women were offered 7% less on average at major corporations versus being paid 4% less at small start-ups that haven't received a lot of funding yet.

The good news for everyone: The connection between asking for what you think you're worth and getting it applies to women at all levels of experience, Hired found.

"Women who ask for the same salary as men in the same role tend to get offers in line with what they are asking," Kirkpatrick wrote.

Emerging markets have rallied. Will it last?

Emerging markets have rallied. Will it last?

Emerging markets have had a lot of turbulence for a long five years.

emerging markets custom

Stocks in emerging markets were in the red for four of the last five years. The tide appears to be turning now.

One key stock index for emerging markets, the MSCI, is up 6.5% this year. That's far better that European markets and ahead of the recent turnaround in U.S. markets. Mexico, Brazil and South Africa's markets are up so far this year. Last year they were all down by double digits.

That's because many of the factors that led to the downturn are also starting to turn.

"The recent recovery after a miserable six months largely reflects a pickup of global risk appetite as concerns about the global economy have receded," says Charles Collyns, chief economist at the Institute of International Finance.

Many developing countries, such as Brazil and South Africa, depend on demand from China for their economies to grow. Since 2011, China's economy has been slowing down, hurting growth prospects in developing countries.

Crashing commodity prices and concerns about higher interest rates have exacerbated the flight of cash out of emerging markets in recent years. Investors pulled $750 billion out of emerging markets last year, according to the Institute of International Finance.

Here is what has driven the comeback for emerging market stocks:

1. Prices for commodities like oil, iron and soy have stopped falling and have actually risen a lot. Oil prices are up 54% since hitting a low on February 11. Iron and copper prices are up this year too. This is great news for emerging markets, many of which depend on commodities to drive growth.

2. Fears have eased about China's economic slowdown and how much value its currency, the yuan, will lose.

3. Interest rates aren't rising as expected. That eases the pressure on developing countries, some of which have to pay off their debt in higher value U.S. dollars or euros.

4. The U.S. dollar rallied a lot against several currencies in emerging markets last year. In fact, now some those currencies are gaining value against the dollar in 2016.

5. Another key reason is value. Emerging market stocks are cheaper than U.S. stocks. One key measure of value, the price-to-earnings ratio, is about 11.6 for the MSCI EM index. But the S&P 500 is trading at about 17.5 times forward earnings.

But the real question is whether the stock rally will stay or if it's just a short-term Cinderella story.

Concerns still loom about China's slowdownand the comeback in commodities is no sure thing. For example, leaders of the oil cartel OPEC are meeting this weekend to discuss oil production. If no concrete agreement comes out of the meeting in Doha, that could claw back some of the gains in oil prices.

Plus, the Federal Reserve still plans to raise interest rates this year, albeit more slowlythan originally believed. Higher rates usually make it more expensive for developing countries and companies to pay back debt that must be paid in dollars.

The Institute of International Finance also believes there will be outflows from emerging markets of $500 billion -- less than last year.

Despite those concerns, some experts remain confident.

"We suspect that financial markets in the emerging world will continue to perform well," say John Higgins, chief markets economist at Capital Economics, a research firm.

Emerging markets have rallied. Will it last?

Emerging markets have rallied. Will it last?

Emerging markets have had a lot of turbulence for a long five years.

emerging markets custom

Stocks in emerging markets were in the red for four of the last five years. The tide appears to be turning now.

One key stock index for emerging markets, the MSCI, is up 6.5% this year. That's far better that European markets and ahead of the recent turnaround in U.S. markets. Mexico, Brazil and South Africa's markets are up so far this year. Last year they were all down by double digits.

That's because many of the factors that led to the downturn are also starting to turn.

"The recent recovery after a miserable six months largely reflects a pickup of global risk appetite as concerns about the global economy have receded," says Charles Collyns, chief economist at the Institute of International Finance.

Many developing countries, such as Brazil and South Africa, depend on demand from China for their economies to grow. Since 2011, China's economy has been slowing down, hurting growth prospects in developing countries.

Crashing commodity prices and concerns about higher interest rates have exacerbated the flight of cash out of emerging markets in recent years. Investors pulled $750 billion out of emerging markets last year, according to the Institute of International Finance.

Here is what has driven the comeback for emerging market stocks:

1. Prices for commodities like oil, iron and soy have stopped falling and have actually risen a lot. Oil prices are up 54% since hitting a low on February 11. Iron and copper prices are up this year too. This is great news for emerging markets, many of which depend on commodities to drive growth.

2. Fears have eased about China's economic slowdown and how much value its currency, the yuan, will lose.

3. Interest rates aren't rising as expected. That eases the pressure on developing countries, some of which have to pay off their debt in higher value U.S. dollars or euros.

4. The U.S. dollar rallied a lot against several currencies in emerging markets last year. In fact, now some those currencies are gaining value against the dollar in 2016.

5. Another key reason is value. Emerging market stocks are cheaper than U.S. stocks. One key measure of value, the price-to-earnings ratio, is about 11.6 for the MSCI EM index. But the S&P 500 is trading at about 17.5 times forward earnings.

But the real question is whether the stock rally will stay or if it's just a short-term Cinderella story.

Concerns still loom about China's slowdownand the comeback in commodities is no sure thing. For example, leaders of the oil cartel OPEC are meeting this weekend to discuss oil production. If no concrete agreement comes out of the meeting in Doha, that could claw back some of the gains in oil prices.

Plus, the Federal Reserve still plans to raise interest rates this year, albeit more slowlythan originally believed. Higher rates usually make it more expensive for developing countries and companies to pay back debt that must be paid in dollars.

The Institute of International Finance also believes there will be outflows from emerging markets of $500 billion -- less than last year.

Despite those concerns, some experts remain confident.

"We suspect that financial markets in the emerging world will continue to perform well," say John Higgins, chief markets economist at Capital Economics, a research firm.

Do investing and justice mix? Companies that fund lawsuits are hailed - and blasted

Do investing and justice mix? Companies that fund lawsuits are hailed - and blasted

Investing in lawsuits: Should it be regulated?

Some lawsuits never get filed for a single reason: cost. And firms in a burgeoning line of business are trying to change that.

It's called litigation finance: Third-party investment firms put up money to fund a lawsuit for a litigant -- usually the plaintiff, or person bringing the suit -- who otherwise couldn't afford to go to court.

In exchange for funding, the investor takes a cut of any recovery, and the litigant gets his or her day in court.

Proponents say litigation finance levels the playing field -- for example, giving small companies and individual claimants the money they need to go up against deep-pocketed corporations. And they say market forces compel firms to finance only legitimate lawsuits that have a chance of winning.

"They have an incentive to support good cases, cases that are meritorious, that will succeed, because if they lose it's their dime," said Selvyn Sidel, one of the industry's pioneers. Sidel co-founded Burford Capital, the biggest player in the field. He now serves as a litigation finance adviser as head of Fulbrook Capital Management.

But critics of the practice, like the U.S. Chamber of Commerce, say incentive-based financing of lawsuits by third parties can promote frivolous cases and inflated awards and settlements.

Lisa Rickard, president of the U.S. Chamber Institute for Legal Reform, called litigation finance "a sophisticated scheme for gambling on litigation."

"More lawsuits, more litigation uncertainty, higher settlement payoffs to satisfy cash-hungry funders, and in some instances, even corruption," Rickard wrote in a paper, ticking off what she sees as the problems with the trend.

While experts say litigation finance is a growing field, it's hard to get information about the size of the industry and the terms of its agreements. Funding agreements, although entered into between litigants and finance firms, are typically cloaked in the secrecy that surrounds attorney-client relationships.

"You can't even tell in the U.S. how many [investor funded] litigations there are," Sidel said.

Investor-backed lawsuits can also give rise to conflicts of interest.

"There are conflicts between the investor and the client as well and maybe with the investor and the lawyer," Sidel said. "The investor may feel after funding the case that it wants to settle and go to the next case. The claimant may say no."

The lack of transparency has drawn the attention of some members of Congress.

Republican Senator Chuck Grassley, chairman of the Judiciary Committee, and Senate Republican Whip John Cornyn wrote a letterto three of the largest litigation finance firms, that are also publicly traded, asking them to turn over information about their funding agreements.

"We're asking for ... how much they're spending. We want to know what their objectives are," Grassley told CNN.

Grassley said he needs more information to evaluate whether the business should be subject to regulation beyond what is required in public disclosures.

"Who is benefiting the most -- the person that's been harmed, or the person that's financing it?" Grassley asked, adding that in some instances justice might not be achieved without a third-party interest.

Burford Capital, the largest funder in the industry, said in a written responseto the Judiciary Committee that oversight is unnecessary because it invests predominantly in commercial claims -- in other words, lawsuits involving corporations and other sophisticated parties.

"The courts and legislatures have been clear about the legality of the business, and the tide is clearly running in favor of including litigation finance within the umbrella of protection from disclosure," Burford said.

Grassley is also concerned that financed lawsuits could put more strain on already clogged courtrooms. "That's a very bad problem even without people promoting lawsuits," he said.

But Sidel, an industry pioneer, argues that judicial workloads shouldn't be a factor. "If it's overcrowding or increasing the crowds, then that's not the claimants nor the investors' faults or concern, it's the legal system's fault or concern," Sidel said. "And let that expand to be able to handle it because that's what they're there for."

Jacqui Miller, whose family-owned Miller UK Ltd. won a $73.6 million trade secrets award against Caterpillar Inc., said she wouldn't have been able to prevail without litigation financing.

"The simple fact is that had we not had financing, we couldn't have taken our case to the finishing post," Miller said. " Large companies use the law as a protection because for them it's cheaper than going to court."

Sling TV offers YES Network on new streaming service

Sling TV offers YES Network on new streaming service

Derek Jeter: Decade of best ads
Good news for Yankees fans who live in New Jersey, Connecticut and Pennsylvania.

No, Comcast and the YES Network haven't reached a deal. But a new streaming service from Sling TV will offer the Yankees network for $20 a month.

Sling TV is a product from Dish Network . It allows subscribers to stream live TV from any device. It's also available on most digital media players.

So far this season, Yankees fans who are Comcast customers in these states have been unable to watch home games since the YES Network and Comcast have failed to reach a deal.

Comcast, which has 900,000 customersin the region, dropped the network in November saying that Yankees games aren't "popular enough" to justify the cost. YES disagrees.

Both sides have said there currently aren't any negotiations underway.

Yankees fans with Comcast subscriptions can watch out-of-market games on MLB.com, but home games aren't shown on MLB.com and the service costs $85 a year.

Sling TV CEO Roger Lynch told CNNMoney that the decision to offer the YES Network was part of a larger deal between Fox and Dish Network. Fox owns 80% of the YES Network.

Lynch said he was "happy with the timing of the roll out."

The launch comes a little more than a week after the Yankees home opener on April 5 -- six games have already been played.

New customers can try the multi-device streaming service for free for seven days and there isn't an annual contract.

Lynch said Sling TV customers have been requesting more channels.

"We believe our new multi-stream service, anchored by a strong lineup of Fox content... as well as access to Major League Baseball in 15 markets, including the New York Yankees, is the first step in answering their requests."

YES Network CEO Tracy Dolgin said the new service was "really good news for disenfranchised" fans who have Comcast.

He also praised the fact that the sign-up process was immediate and could be easily done online -- in time for tonight's game.

"This month alone there are 22 games -- we have exclusive access to 20 of them," he said.

Verizon CEO says Bernie Sanders is 'disconnected from reality'

Verizon CEO says Bernie Sanders is 'disconnected from reality'

Thousands of Verizon workers walk off the job
Bernie Sanders isn't making a lot of friends in the business world.

After Sanders spoke at a rally of striking Verizon workersWednesday, Verizon CEO Lowell McAdam lambasted the Democratic presidential candidate in a long.

McAdam said Sanders' "uninformed views are, in a word, contemptible," and that the senator is "disconnected from reality."

Issue 1: Sanders said Verizon fails to pay its fair share of taxes

Sanders saidVerizon "in a given year has not paid a nickel of taxes."

McAdam said Sanders is dead wrong: Verizon paid more than $15.6 billion in taxes over the past two years, at an effective tax rate of 35%. That's the official U.S. corporate tax rate.

It's unclear what "given year" Sanders was referring to. It might have been 2013, when Verizon's tax rate was -4.8%. That was in part because Verizon Wireless was, at the time, 45% owned by Britain's Vodafone. It is now 100% American-owned.

Issue 2: Verizon doesn't use its profits to benefit America

bernie sanders verizon Sanders a the Verizon rally

Sanders said Verizon is not investing in American communities, in particular the "inner cities."

McAdam said that's nonsense, noting that Verizon has invested about $35 billion in infrastructure -- virtually all of it in the U.S. -- over the past two years, making the company one of the top three capital investors in corporate America.

"We're making significant investments in New York City, Philadelphia and other metro areas throughout our wireline footprint," McAdam wrote in his LinkedIn post. "I challenge Sen. Sanders to show me a company that's done more to invest in America than Verizon."

Telecommunications companies are among the most capital-intensive businesses on Earth. That $35 billion isn't altruistic -- it's the cost of doing business.

Although Verizon has a landline footprint that reaches just about everyone from Massachusetts to Virginia, Verizon has repeatedly been criticized for rolling out its super-high-speed FiOS network only to wealthier neighborhoods.

Issue 3: Verizon is demanding workers take pay cuts and reduce health benefits

Sanders said Verizon will ship workers' jobs overseas if they don't agree to reduced benefits or pay.

McAdam countered that Sanders is oversimplifying a complex labor negotiation. He said Verizon has agreed to wage increases and continued pension benefits while asking for "more flexibility in routing calls and consolidating our call centers."

"Feeling the Bern of reality yet, Bernie?" McAdam quipped.

Verizon has outsourced about 5,000 jobs to Mexico, the Philippines and the Dominican Republic, and the company has contracted some U.S. jobs to lower-wage, non-union workers, angering the Communications Workers of America union.

McAdam says the "facts of life" have changed, as wireless overtakes the landline and broadband business. He said Sanders is "ignoring the transformational forces reshaping the communications industry."

"Nostalgia for the rotary phone era won't save American jobs, any more than ignoring the global forces reshaping the auto industry saved the Detroit auto makers." McAdam said.

The Verizon workers' union, the CWA, endorsed Sanders. But Sanders isn't alone in his support of the union. Rival Hillary Clinton also sided with the striking Verizon workers, saying the company should give them a "fair offer."

GE CEO Jeff Immelt criticized Sanderslast week for being out of touch, noting that "GE has never been a big hit with socialists."

Social media and mental health: 'We are more than our profile pictures'

Social media and mental health: 'We are more than our profile pictures'

Most people present their best selves on social media.

social media vs reality


Most people present their best selves on social media. But what about their whole selves?

"The photo on the left is me on a 'normal' day and on the right is the side of me nobody sees," wrote Pete Lawsin a Facebook post Monday.

Laws, inspired by a stranger on the Internet, posted two selfies. One smiling, forming a heart with his fingers, pre-anxiety attack. The other, with his hand over face, one eye shut, post-anxiety attack. Laws went on to describe his symptoms: breathlessness, dizziness, stomach pains, headaches and more.

He also detailed his frustration: "Not enough people are aware of the destruction it can cause somebody's life if they don't get the right support," he wrote.

From Instagram to online dating, people are constantly posting photos that reveal just the "highlights" of their life and their looks.

A woman named Amber Smith bucked that trend earlier this monthwhen she opted to reveal a more well-rounded version of herself -- anxiety and all. Smith wrote that while she may physically look OK, in reality, she's "battling a monster inside my head every single day."

Her intention was to remove the stigma associated with mental health and make social media a platform that's a bit more real.

Some have started to push back against a curated version of reality that doesn't reflect a person's ups and downs.

Take Essena O'Neill, an Australian teen who had more than 500,000 followers consuming her cheerful YouTube, Instagram and Facebook posts.

But that wasn't reality and it drove O'Neill to a tipping point. She went back and edited her posts to describe how she actually felt when posting the pictures. "Social media is an illusion," she wrote.

According to George Nitzburg, a research fellow at Mount Sinai, that's a very real danger of platforms like Instagram and Facebook .

"It's definitely social comparison where you feel other people are living happier, better lives than you are or who look better, feel better than you do," said Nitzburg at TalkSpace's Future of Therapy conferencelast week.

The reality is that most aren't as happy as their smiling selfies would have you believe. One in five people are suffering from mental health issues, according to the National Alliance on Mental Illness, but the vast majority aren't seeking help.

"Mental health is not a sexy topic, the same way cancer is not a sexy topic," said Roni Frank, cofounder of Talkspace, a text therapy startup that hosted the conference.

But people are hungry to talk about it.

"Well done for standing up and telling the world about this," commented a woman on Facebook. "Too many people hide mental health and it's not right."

"This needs to be a thing. We all need to show the world how mental illness affects people on different levels and that we are more than our profile pictures depicting our 'perfect' lives," said a different woman.

Support for Smith and Laws also came in full force.

"I literally have hundreds of unread messages from people, that it is getting a little overwhelming as I want to reply to you all right now," Smith wrote in a separate post on Facebook.

Laws, on the other hand, posted a screenshot of his Facebook friend requests: 462.

"I promise I will accept you all just need time to sort out my privacy settings," he wrote.

Laws and Smith did not immediately respond to CNNMoney's requests for comment.

CNNMoney (New York) First published April 13, 2016: 6:26 PM ET

Former Reuters editor Matthew Keys gets 2 years in prison for LA Times hack

Former Reuters editor Matthew Keys gets 2 years in prison for LA Times hack

Convicted journalist keeps fighting hacking law
Matthew Keys, a former social media editor at Reuters, was sentenced to two years in prison for helping hackers break into the Los Angeles Times website in 2010.

Keys said in a tweet that he plans to appeal the decision.

"2 years," he wrote. "We plan on filing a motion to stay the sentence...This whole process has been exhausting."

Earlier in the day, Keys penned a thank you note to supporters and maintained his innocence.

"I did not ask for this fight," he said. "I hope that our combined efforts help bring about positive change to rules and regulations that govern our online conduct."

2 years. We plan on filing a motion to stay the sentence.

— Matthew Keys (@MatthewKeysLive) April 13, 2016

Keys, 28, was convicted last October of conspiring with the hacker group Anonymous to break into the network of the Tribune Co., his former employer. The Tribune Co. owns the LA Times.

Keys had been fired from Tribune-Co. owned KTXL FOX 40 in October 2010. Two months later, he handed over the information Anonymous needed to hack its network.

According to court documents, Keys passed login information to Anonymous members in an online chat urging them to "go f--- some s--- up." According to the indictment, at least one of the hackers used the credentials he provided to log into the company's server and alter a news story on the Los Angeles Times website.

He later went to work for Reuters, which dismissed him after he was charged with the crime.

The Justice Department charged him for transferring information in order to damage a "protected computer."

CNNMoney (New York) First published April 13, 2016: 7:25 PM ET

Senate bill would force Apple to put a back door on iPhones

Senate bill would force Apple to put a back door on iPhones

The leaders of the Senate Intelligence Committee, seeking to empower police nationwide, have unveiled a draft bill that would force companies like Apple to unlock iPhones anytime a judge says so.

apple iphone encryption

The draft bill, released publicly Wednesday, would radically change privacy laws in the United States.

It would force American companies to keep back door keys that guarantee government access to all smartphones, computers and software.

To do that, the bill dictates how technology companies like Apple , Google and Microsoft can design their products.

To keep devices and apps safe from hackers, tech companies have adopted modern security features that lock out everyone but the gadget's owner. Personal information is encrypted into indecipherable numbers and letters -- and the passcode is the only key.

This bill would roll that back. It's an order to decrypt on demand.

"Consumers have a right to seek solutions that protect their information," Committee Chairman Richard Burr said in a statement. "I do not believe, however, that those solutions should be above the law."

The Compliance with Court Orders Actis an attempt to give law enforcement extra powers. It would force companies presented with a court order to always give up information "in an intelligible format." And it requires device manufacturers to keep a spare key.

It's unclear when the bill would be formally introduced to the Senate floor -- or if it has a chance of becoming law. But the senators behind the law say they intend to start "a meaningful and inclusive debate on the role of encryption and its place within the rule of law."

It was put forward by the top two politicians in the Senate Intelligence Committee: Burr, a Republican from North Carolina, and Vice Chairman Dianne Feinstein, a Democrat from California. Both have a reputation for their conservative stances on national security matters.

The initial response from tech experts was harsh.

"It's obvious that nobody in the tech field was consulted during the drafting of this bill. It's a work of complete ignorance," said Eric Rand, a computer security consultant in Southern California.

The Application Developers Alliance, an industry group representing the computer professionals who create software, said the measures in the bill "would compel companies and developers to create a specific design or operating system with inherent security flaws."

Cybersecurity expert Robert Graham said regulating encryption this way is akin to regulating document shredders. It shows senators "fear what they don't understand," he said.

The back story

This legislation is a direct response to the current fight between Apple and the FBI. Right now, law enforcement is hitting a brick wall during investigations.

Until recently, police were able to employ Apple's help to unlock iPhones when investigating crimes. But the latest versions of the iPhone are far more secure and more difficult -- if not impossible -- for law enforcement to unlock without a suspect's passcode.

The FBI faced this problem when trying to enter the iPhone 5C belonging to Syed Farook, one of the two dead San Bernardino shooters. In that instance, the FBI tried to force Apple to design a newer, weaker version of its softwareto unlock that specific phone. When Apple fought back, the FBI teamed up with an "outside party" and successfully hacked the phone.

But the fight isn't over. Law enforcement still lacks a law that would give it power to force companies to unlock devices and software. The Compliance with Court Orders Act would provide that power.

"Today, terrorists and criminals are increasingly using encryption to foil law enforcement efforts, even in the face of a court order," Feinstein said in a prepared statement. "We need strong encryption to protect personal data, but we also need to know when terrorists are plotting to kill Americans."

But other politicians have warned that mandating back doors only puts people at riskof criminal hackers, identity thieves and high-tech spies in China and Russia.

"This is a great way to tell the rest of the world: 'Don't trust U.S. products and services,'" said Martijn Grooten, a Dutch security researcher.

Snapchat overtakes Instagram as 'most important social network' among teens

Snapchat overtakes Instagram as 'most important social network' among teens

Instagram's next feature?

Instagram's next feature? Teleportation


Maybe Facebook should have tried harder to buy Snapchat.

The disappearing messaging app just surpassed Instagram as the "most important social network" among teens, according to a new Piper Jaffray report.

In a survey of 6,500 U.S. teens, 28% named Snapchat as the most important service compared to 27% who named Instagram. (The teens surveyed ranged in age from 14 to 19.)

While the one percentage point difference may seem insignificant, the change in perception over time is very significant.

Instagram has been at the top position of this study for almost two years. Last spring Instagram was named by 32% as the top choice of teens, and last fall 33% named it as the most important.

Snapchat was named by 13% and 19% during those same time periods.

Twitter and Facebook were third and fourth in the latest survey, while Yahoo -owned Tumblr rounded out the top five.

Facebook bought Instagram in 2012 for $1 billion. The following year, Facebook tried to buy Snapchatfor $3 billion.

Snapchat turned down the offer and hasn't looked back.

In both cases, Facebook wanted to grow its audience and product line.

With Instagram, it gained an app that appealed to people who skewed younger and female.

Snapchat could have given Facebook that plus a popular messaging platform.

Given how dominant messaging apps have become, it's no surprise that teens say Snapchat is the most important social network. Messaging is a just form of socializing, but it's more intimate, and doesn't force people to think about how to broadcast their personality across the Web.

It's important to note that Piper Jaffray's study measures the perception of Snapchat among teens and not actual usage.

But a recent independent study by Edison Research and Triton Digitalfound that usage aligns with this perception. The survey found that 72% of Snapchat's users are between the ages of 12 and 24. On Instagram, it's 66%.

Both perception and usage numbers are important for advertisers who want to associate themselves with the right platform and target certain customers.

Theranos CEO in jeopardy after regulators propose ban

Theranos CEO in jeopardy after regulators propose ban

Elizabeth Holmes could be banned from her startup Theranos' labs -- a move that comes at the suggestion of federal health regulators.

elizabeth holmes

But a spokeswoman for Theranos said that's a "worst case scenario."

Regulators proposed this nuclear option to the blood testing company after it failed to adequately satisfy concerns raised by the Centers for Medicare and Medicaid Services.

In a letter dated March 18 that was obtained by the Wall Street Journal, CMS wrote that Theranos failed to adequately address critical deficiencies at the company's California lab. If Theranos didn't respond within 10 days, Holmes and president Sunny Balwani would be barred from owning or operating the lab -- or any others -- for a minimum of two years. It would also take away the California lab's federal license. Theranos has a lab in Arizona, which is still operational.

Theranos has positioned itself as a cheaper, more efficient alternative to traditional medical tests. It claimed it could process up to 70 lab tests on just a few drops of blood. It is valued at more than $9 billion and has been billed as a classic industry disruptor.

But in October 2015, a scathing report in the Wall Street Journal called much of its technologyand testing methods into question.

CMS's concerns became public in January,after the agency conducted a routine survey of the lab and found five areas in which it fell short of compliance standards.

Theranos responded and said it had addressed the issues, but in the March letter, CMS said it wasn't adequate.

A spokeswoman for Theranos told CNNMoney that the company responded more than two weeks ago and is waiting for CMS to review and respond, although she said Theranos is in "constant" contact with the regulators. If sanctions are imposed, they will be made public, she said.

"CMS has not imposed sanctions on Theranos' Newark lab. Due to the comprehensive nature of the corrective measures we've taken over the past several months, which has been affirmed by several experts, we are hopeful that CMS won't impose sanctions. But if they do, we will work with CMS to address all of their concerns," according to a statement from Theranos spokeswoman Brooke Buchanan.

CMS said that it's not able to release the letter at this time and declined to comment on the record.

Just last week, Theranos announced that it has added six new board memberswith deep medical expertise. The company had been criticized in the past for the fact that its board is made up with people like Henry Kissinger -- and few medical experts.

Microsoft sues government for secret searches

Microsoft sues government for secret searches

Apple vs.

Apple vs. the FBI: a timeline


Microsoft filed a landmark lawsuit against the U.S. Department of Justice on Thursday, taking a stand against the way federal agents routinely search its customers' personal information in secret.

The company accuses the federal government of adopting a widespread, unconstitutional policy of looking through Microsoft customers' data -- and forcing the company to keep quiet about it, sometimes forever.

Over the past 18 months, federal judges have approved 2,600 secret searches of Microsoft customers, according to the company. And in two-thirds of those cases, Microsoft can't even notify their customers that they've been searched -- ever -- because there's no expiration date on these judicial orders.

"Microsoft brings this case because its customers have a right to know when the government obtains a warrant to read their emails, and because Microsoft has a right to tell them," the lawsuit states.

At issue here is the 1986 Electronic Communications Privacy Act, which creates a double standard when it comes to a person's right to know when police are rummaging through their stuff.

Normally, a person must be told when police -- with a search warrant -- search their home to look for clues to a crime.

Nowadays, people keep lots of email, notes, contact lists, and pictures on computer servers at Microsoft and elsewhere. Under this 1986 law, police can get a special exemption to search those computers and keep the company from informing its customers when law enforcement has ordered a search.

"People do not give up their rights when they move their private information from physical storage to the cloud," Microsoft says in its lawsuit. "The government, however, has exploited the transition to cloud computing as a means of expanding its power to conduct secret investigations."

A spokeswoman at the Department of Justice said it is reviewing the lawsuit.

Federal agents appreciate the secrecy of these searches, because it doesn't tip off a person when they're under investigation. However, as Microsoft notes in its lawsuit, these searches remain undisclosed even after cases are closed.

"One of the most basic promises of our Constitution is that the government must notify you when it infringes your rights. For years, the government has skirted that obligation by seeking our sensitive data from tech companies without providing notice," said Alex Abdo, a staff attorney at the American Civil Liberties Union.

In its lawsuit, Microsoft claims that federal agents have been violating the company's First Amendment right to speak to its own customers, as well as their customers' Fourth Amendment right to know when they're being searched.

This lawsuit also notes the odd, modern distinction that the government makes between searching your computer -- and searching your information on a company's computer.

Law enforcement agents often remain covert when they dig through information stored on company data backup services. The most privacy-conscious companies reveal this in transparency reports. For example, Apple says it gave American police accessto 1,407 customer iCloud, iTunes and Game Center accounts in the first half of last year.

This is how the FBI quickly got access to search through the iCloud account of San Bernardino shooter Syed Farook.

The Fourth Amendment protects a person from all types of "unreasonable searches and seizures." Law enforcement frequently takes advantage of an exception, called the "third-party doctrine," which says that a person can't expect privacy when information is disclosed to a third party.

But that exception doesn't always apply to electronic data stored for safekeeping online.

"So far, courts have ruled that a person's Fourth Amendment rights still apply to their email," said Orin S. Kerr, a legal scholar who teaches at George Washington University Law School.

Microsoft has taken stands over customer privacy in the past. Microsoft is currently fighting the DOJ, saying it doesn't have to hand customer information it stores in Ireland over to American law enforcement agents unless Ireland gives the okay.

But this lawsuit is different, because it confronts the secretive tactics adopted by U.S. law enforcement in recent years. In 2014, Yahoo beat the federal government in court, allowing companies to publicize mass government data collection. This year, Apple fought off the FBI's attemptsto force it to unlock a terrorist's iPhone.

Facebook's ad chief: Let's rethink STEM

Facebook's ad chief: Let's rethink STEM

Andrew Bosworth, "Boz" to many, is the brains behind Facebook's News Feed.

andrew bosworth facebook Andrew Bosworth, vp of ads and pages for Facebook.

He's a passionate technologist for whom the stars aligned when he was a student at Harvard: Bosworth was a teaching assistant in an artificial intelligence class and Mark Zuckerberg was one of his students.

Two years after graduating, the computer science major joined his former pupil at Facebook . He's currently Facebook's VP of advertising and pages.

But when Bosworth, now 34, tells the story of his success, he reaches back into his childhood.

Prominent in his narrative is 4-H, a youth program that Bosworth participated in from the ages of 9 to 19.

4h boy Bosworth, 10, demonstrating a science project at a 4-H club meeting.

"My family's been farming from way back," said Bosworth, who grew up in Santa Clara County, California.

4-H, which dates back to the early 1900s, is traditionally known for its roots in agriculture and animal husbandry. Bosworth embraced all of it.

"I was into cooking projects and I raised sheep, pigs, rabbits, guinea pigs," said Bosworth. "I wore my 4-H uniform and would show my animals at the country fair."

The program was instrumental to him in other ways, too. "It was a 4-H mentor who first taught me how to program a computer when I was 10 or 11," he said.

4-H has a deep bench of luminaries. It includes NASA astronaut Peggy Whitson, who is scheduled to go to the International Space Station later this year; Harvard president Drew Faust; and singer Jennifer Nettles.

"Every county in America has a 4-H program," said Jennifer Sirangelo, president of the National 4-H Council.

4-H offers hundreds of classes -- everything from yoga and cooking to public speaking and environmental science. Now, 4-H is rebranding itself with a focus on STEM (science, technology, engineering and math) through classes like robotics and rocketry.

4H STEM Students in a 4-H STEM program.

The objective is twofold: break out of its traditionally rural mold and increase its membership, especially among urban youth.

"We no longer want to be the best kept secret in America. We're striving to reach 10 million youth by 2025, a nearly 67% increase," Sirangelo said, adding that much of the growth "will be fueled by STEM programming."

Bosworth believes that 4-H is an important vehicle for exposing more kids to STEM.

"I was lucky to grow up in Silicon Valley. And my parents recognized the value of computers early on," he said, adding that he had an Apple IIE at home as a kid. "But I know of dozens who were with me in 4-H, who had to drive 45 minutes to have access to any kind of technology."

andrew bosworth facebook Bosworth [far right] with his family after winning the 4-H All Star award in 1997.

And while he says programs like 4-H and Code.org are working to narrow the accessibility gap, "we're behind where we need to be."

He blames that on the current approach to teaching STEM.

"It's staggering that we've managed to make it so unexciting and so unappealing," said Bosworth. "You can't tell a 12 year old, 'Hey, this is really important to your future job growth,' and have them get super pumped about it."

STEM education should take a more hands-on approach that facilitates social interaction, too, said Bosworth, who was a founding member of 4-H's technology program.

"If you look back to my experience with 4-H, what was great was that you were doing an activity and building a social skill," said Bosworth. "It was fun. You were doing it with your friends, and you were doing it as part of the community."

4H STEM program 4-H members enjoying a STEM project.

Those "soft skills" gave him an advantage at Facebook.

"There was such tremendous advantage to having worked in teams at 4-H," he said. "It gave me the confidence to approach a new subject and the confidence to take on bigger community-oriented goals."

4-H was a family affair for Bosworth. His mother Vicky and both his sisters were also 4-H members. And Vicky is still very active with the California 4-H organization.

Bosworth, too, has stayed connected to his 4-H roots.

"I go to the Santa Clara country fair every year," he said. "4-H kids raise animals and bring them to the fair. I buy a pig every year. I've bought a cow and split it with my coworkers."

He hopes to be more involved when his 16-month-old son is older.

"Right now, he's working on walking. He's not quite into STEM yet," he said.

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