Snap Roadshow Questions Focus on Growth Amid Facebook Rivalry

Snap Inc. so distant hasn’t been means to tamp down financier regard about user growth.

When asked about a slack in new users on a Snapchat photo-sharing mobile app in a fourth quarter, a association blamed a product emanate with a Android version, according to investors who attended a company’s initial open charity roadshow display Tuesday in New York. Investors were doubtful of that answer, generally in light of rising foe from Facebook Inc., whose Instagram app recently launched a counterpart of Snapchat’s renouned stories disappearing-video feature. Instagram’s stories has fast amassed 150 million daily active users, only subsequent Snapchat’s 158 million.

“Pointing to problems with Android is not addressing a elephant in a room, that is Instagram,” pronounced Sean Stiefel, a portfolio manager during Navy Capital, who attended a presentation. “They arrange of danced around a issues with user growth.”

How fast a association is adding new users — and how intent those users are — will be tip of mind for investors as they import either to buy into Snap’s batch during a $16.2 billion to $18.5 billion marketplace gratefulness it’s targeting. That’s since a 7-year-old association hasn’t given many sum on destiny skeleton outward of pulling toward profitability in a flagship Snapchat app.

Instagram’s stories, like Snapchat’s, are broadcasts of videos to friends, durability 24 hours before they disappear. In a display Tuesday, Snap sought to compute a dual apps, revelation investors that people daub Instagram for opposite reasons than they do Snapchat, that they use for their many insinuate friendships. But if Instagram’s stories underline does forestall Snapchat from building a audience, Snap will need a some-more poignant reason than Android product problems when it starts to give quarterly gain presentations after a IPO.

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Chief Executive Officer Evan Spiegel, wearing a suit, tackled other dire questions during a lunch eventuality during New York’s Mandarin Oriental hotel. The association is aiming to lift as most as $3.2 billion in a IPO, with a shares scheduled to start trade Mar 2 on a New York Stock Exchange underneath a pitch SNAP.

After doling out opening badges in a entryway of a 36th-floor ballroom, that was ornate in Snap’s heading yellow, attendees had about an hour to ask questions and taste on boxed lunches. The room was firmly packed. Several of those who spoke after a assembly pronounced they were tender with Spiegel, whom they described as discriminating and prepared.

The Los Angeles-based association was asked about a cost structure, that involves complicated spending on cloud infrastructure with Alphabet Inc.’s Google multiplication and Inc. Snap has committed to spend $2 billion with Google Cloud over a subsequent 5 years and at slightest $1 billion with Amazon in a same period.

At Tuesday’s road-show meeting, a association pronounced it expects those costs to eventually decrease as a tech giants contest on pricing, according to attendees. Snap also pronounced it is open to building a possess information centers in a future.

Spiegel also gave a glance of probable new uses for a calm prisoner by a app. The CEO pronounced a association would be able of building three-dimensional maps of real-world places like Universal Studios or a Harry Potter thesis park, according to people who attended a meeting.

While Spiegel didn’t contend a association has skeleton to pursue mapping, a discuss of such capabilities is one of a few tastes investors have gotten about intensity destiny businesses for a supposed “camera company.”

‘Leaked’ Samsung Galaxy S8 pic shows on-screen controls, no home button


The gossip that a stirring Samsung Galaxy S8 will embankment a earthy home symbol for on-screen controls gains some-more faith with a new pattern — presumably of a flagship phone in question.

The picture, that comes a approach around SamMobile (through other trickle sources), shows a tall, slight device with a high screen-to-body ratio and no earthy home symbol during a bottom.

Instead, we see a behind arrow on a bottom navigation strip, next a soothing pivotal for a settings menu, and nearby 3 dots that prove we can appropriate to see some-more screens. And a shade that a phone is on? That would be a Apps Edge shade used on Samsung’s Edge family of phones and a Note 7, before a latter was removed due to inadequate batteries.

The Galaxy S8 and incomparable S8 Plus are rumored to launch Mar 29 with winding displays, Qualcomm’s new Snapdragon 835 processor and a “Bixby” AI assistant.

Samsung did not immediately respond to a ask for comment.

Samsung Galaxy S8 judgment phone pattern by Steel Drake

UPS tested rising a worker from a lorry for deliveries

SAN FRANCISCO —  Both a worker attention and sovereign regulators are years divided from actual legal worker deliveries in a United States. But that’s not interlude companies from contrast possibilities, both to get a visible of a worker with their trademark out in front of a open and to see what works.

UPS was a latest to try something new with drones on Tuesday when it ran a exam of a truck-launched worker smoothness complement for farming areas in Lithia, Fla.

The drone-equipped vans would usually be used on farming routes, pronounced Mark Wallace, comparison clamp boss for tellurian engineering and sustainability, UPS.

Imagine a triangular smoothness track where a stops are miles detached by road, he said.

The van-top worker would concede a UPS motorist to make one smoothness during a lower-left of a triangle, after rising a worker that would autonomously fly and broach to a tip of a triangle.

“While a worker is creation a delivery, a motorist would continue to a subsequent stop, make another smoothness by hand, and a worker would afterwards event and recharge on tip of a UPS package car,” he said.

The exam “has implications for destiny deliveries, generally in farming locations where a package cars mostly have to transport miles to make a singular delivery,” Wallace said. UPS’  aim isn’t to reinstate drivers though to make them some-more fit by permitting one motorist to some-more fast and well broach to several homes nearby one and other, he said.

The drones come from a Workhorse Group, an Ohio-based electric lorry and worker developer. Workhorse built both a worker and a electric UPS package automobile used in a test. The worker tested on Monday was an octocopter that is entirely integrated with a Workhorse line of electric/hybrid smoothness trucks.

“The worker is entirely autonomous. It doesn’t need a pilot. So a smoothness motorist is giveaway to make other deliveries while a worker is away,” pronounced Stephen Burns, Workhorse owner and CEO.

UPS estimates that shortening a stretch a lorry expostulate by only one mile per motorist per day over one year could save a association adult to $50 million.

Rural smoothness routes are a many costly to serve, due to a time and car losses compulsory to finish any delivery.

This isn’t UPS’ initial open worker test. In Sep it settled a ridicule smoothness from Beverly, Mass.. to an island off a Atlantic coast, over open water.

The association also now uses drones to check register on high storage shelves in a warehouses, that is already authorised to do.

UPS realizes that drones are years divided from daily use, though Wallace pronounced a owner prolonged ago said, “our setting is as apart as a mind’s eye wishes it to be.”

From a record standpoint, a attention needs some-more growth of ‘sense and avoid’ record to be prepared to implement, and FAA still needs “to write a manners that will concede for a protected formation of blurb drones into a National Airspace.,” he said.

UPS sits on a a U.S. Federal Aviation Administration’s worker advisory committee, a group that would be a one to emanate regulations creation drones authorised for deliveries.

Why Verizon Decided to Still Buy Yahoo After Big Data Breaches

Verizon Communications Inc. outbid several suitors to buy Yahoo Inc.’s struggling internet business final year. But a phone hulk had to hasten to keep a understanding from unraveling after Yahoo disclosed dual large information breaches.

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The companies have concluded to correct a $4.83 billion deal, slicing as most as $350 million off a cost and uniformly bursting costs from a breaches, according to people sensitive with a matter.

In late January, some-more than a month after Yahoo had disclosed a second breach, Verizon Chief Executive Lowell McAdam sat with dual of his tip lieutenants in a company’s Basking Ridge, N.J., offices and weighed his options, according to people sensitive with a matter.

Walk divided from a deal, keep study a impact of a breaches — potentially pulling a deal’s closure to a second half of a year — or tighten a transaction now and pierce on.

There were still some things Verizon didn’t know. User rendezvous with Yahoo had usually declined somewhat after a second breach, disclosed in December, though cue resets were still underneath way, definition some-more defections could occur, these people said.

A new assembly between technical staff of a dual companies suggested that some of Yahoo’s systems were compromised and competence be formidable to confederate with Verizon’s AOL unit, a people added.

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But Mr. McAdam still felt owning Yahoo done clarity — and serve check would forestall Verizon from removing going on a desirous skeleton to take on Alphabet Inc.’s Google and Facebook Inc. in digital advertising. Verizon is looking for sources of expansion as a core cellphone business matures and faces tough foe from rivals.

Mr. McAdam motionless to ensue with a understanding — though Verizon would need a bonus since of a uncertainty, a people said.

The subsequent day, Mr. McAdam spoke with Yahoo executive Thomas McInerney, who was fair to a idea, a people said. Yahoo also wanted to pierce on. Selling Yahoo’s internet business was a “gating item” for a remaining businesses’ ability to do other, some-more remunerative things, such as offered stakes in Alibaba Group Holding Ltd. and Yahoo Japan Inc., another chairman sensitive with a matter said.

Mr. McAdam and Mr. McInerney met in New York a following week and crafted a outlines of an agreement that a companies could announce as shortly as Tuesday. In further to a 50-50 separate of destiny liabilities that might arise from a hacks, Yahoo would hit as most as $350 million off a strange $4.83 billion cost tag, according to people sensitive with a matter.

It took about dual weeks to produce out a final adhering points. Yahoo shareholders still contingency opinion to approve a transaction, that a companies wish will tighten in mid-April.

An review underneath approach during a sovereign Securities and Exchange Commission about what Yahoo knew about a information breaches and when, and either it scrupulously sensitive investors, could delayed that timeline. Before Yahoo can report a shareholder opinion on a deal, it needs a SEC to approve a substitute statement.

As partial of a revised agreement, Verizon will give adult a right to sue over a thought that Yahoo had lonesome adult a hacks, one of a people said. The entity offered Yahoo will keep guilt for a SEC review and any shareholder lawsuits associated to a understanding itself. Verizon will separate costs and liabilities associated to any lawsuits from consumers or partners.

There are already several category actions that have arisen as a outcome of a disclosures. Earlier this month, dual successful U.S. senators criticized Yahoo for boring a feet when responding to questions about a hacks.

Tuesday’s agreement ends a drawn-out culmination for a once-mighty internet pioneer. At a tallness of a dot-com bang in early 2000, Yahoo’s marketplace capitalization was some-more than $125 billion. After years of vital U-turns, a drawn-out auction of a core internet business and avowal of a dual largest famous hacks, Yahoo’s business is now value only $4.48 billion

The initial penetrate was suggested in Sep and occurred in 2014. It influenced 500 million user accounts. Then, in December, Yahoo disclosed a penetrate that occurred in 2013 and impacted some-more than one billion user accounts. The stolen information enclosed names, email addresses, dates of birth, write numbers and encrypted passwords, Yahoo has said.

In October, Verizon signaled it could cruise a breaches element events that could concede it to change a understanding terms.

Since then, Yahoo CEO Marissa Mayer and Verizon executives Marni Walden and Craig Silliman have hold unchanging calls to plead Yahoo’s investigation, one of a people said. Tim Armstrong, who runs AOL, essentially stayed focused on a tentative integration, a chairman added.

Verizon skeleton to overlay Yahoo’s digital promotion record and portfolio of websites like Yahoo News, Sports and Finance into AOL, that Verizon acquired in 2015. Verizon skeleton to keep a Yahoo brand. The entity offered Yahoo will be renamed Altaba Inc. Ms. Mayer will step down from a house though it is misleading what purpose she will play after a transaction closes.

Verizon has a prolonged approach to go before it is truly applicable in digital advertising. In 2016, Yahoo and AOL total tranquil about 2% of tellurian digital promotion revenue, compared with Google’s 32% and Facebook’s 13%, according to eMarketer.

–Deepa Seetharaman and Dana Cimilluca contributed to this article.

Write to Ryan Knutson during [email protected]

74 bodies of migrants rinse ashore in Libya, officials say

CAIRO — Scores of bodies of African migrants cleared ashore in Libya’s western city of Zawiya on a Mediterranean, a Libyan Red Crescent pronounced Tuesday — a latest tragedy during sea after migrant deaths rose to record levels along a pivotal bootlegging track over a past months.

At slightest 74 bodies were found in Zawiya, according to Red Crescent’s orator Mohammed al-Misrati, who feared an even aloft genocide toll. He pronounced that a ripped rubber vessel was found circuitously and that he approaching some-more bodies to aspect as such boats customarily lift adult to 120 people.


Al-Misrati told The Associated Press that a bodies were found on Monday morning and that a Red Crescent workers retrieved them between 1 p.m. and 7 p.m.

The assist group posted on a Twitter comment photographs of dozens of bodies in white and black physique bags, lined adult along a shore. Al-Misrati pronounced a internal authorities would take a bodies to a tomb in a collateral of Tripoli that is allocated for unclear persons.

Libyan seashore ensure orator Ayoub Gassim pronounced over 500 migrants were discovered during sea on Friday and Saturday off a seaside of Sebratha, a city to a west of Zawiya. The migrants’ boats were about 5-7 miles from a seashore of Libya.

Gassims assist a seashore ensure is saying a smugglers use incomparable rubber boats in sequence to raise some-more migrants into a diseased vessels — some holding on 180 people — and dramatically augmenting a risks to a migrants.

‘‘We are saying a new boats, that are not versed with anything, though they lift some-more people,’’ he said. ‘‘This is going to be even some-more catastrophic for a migrants.’’


Last week, Fabrice Leggeri, executive of a European Border and Coast Guard Agency, pronounced a Libya-Italy bootlegging track opposite a Mediterranean has seen record numbers of migrant drownings in 2016.

According to Leggeri, migrant deaths along a executive Mediterranean track stood during 4,579 for final year, that still competence be many reduction than a loyal detriment of life. That’s compared to 2,869 deaths in 2015 and 3,161 in 2014.

There is tiny pointer of a swell abating, even during wintertime. There were 228 available deaths in January, by distant a biggest monthly fee in new years. Leggeri blamed a tiny dinghies and bad vessels used by a smugglers for a high genocide rate.

Overall, executive Mediterranean migrant crossings increasing by 17 percent final year to 181,459 people, according to statistics.

On a Facebook page, a Red Crescent bend in Zawiya posted an interest for support to hoop a bodies. It pronounced bodies still sojourn on a beach as a classification lacks vehicles to packet them to a cemetery. ‘‘There are still bodies floating in a sea and we couldn’t strech them,’’ it said.

In Libya, a misunderstanding engulfing this North African nation has turn a genocide trap for thousands of migrants, many from sub-Saharan African countries, seeking to shun misery and find a improved life in Europe.

Libya is separate by competing governments and many militias order on a ground, including those profiting from bootlegging and tellurian trafficking. Rights groups have documented migrants’ fear journeys involving torture, rape, and forced labor inside Libya.

The nation sank into anarchy following a 2011 overthrow that incited into a full-blown polite fight that led to a toppling and murdering of longtime tyrant Moammar Gadhafi.

Since then, tellurian trafficking has thrived amid Libya’s chaos.

This story has been corrected to uncover following new information that a bodies cleared ashore on Monday, not Tuesday.

South Sudan’s Kiir promises protected entrance to starving civilians as fast bites

JUBA South Sudan’s President Salva Kiir on Tuesday betrothed assist agencies protected entrance to hunger-stricken civilians, a day after his supervision announced a fast in tools of a war-ravaged country.

South Sudan has been mired in polite fight given 2013 and a United Nations pronounced on Monday it was incompetent to strech some of a misfortune strike areas since of a insecurity.

“The supervision will safeguard that all a charitable and developmental organizations have unfettered entrance to a needy race opposite a country,” Kiir pronounced in a debate to parliament.

Nearly half of South Sudan’s 11 million people will miss arguable entrance to affordable food by July, a supervision predicts, since of a fighting, drought and hyperinflation.

South Sudan has been strike by a same easterly African drought that has pushed Somalia behind to a margin of famine, 6 years after 260,000 people carnivorous to genocide in 2011.

The U.N. children’s group UNICEF on Tuesday pronounced scarcely 1.4 million children were during “imminent” risk of genocide in famines in South Sudan, Somalia, Yemen and Nigeria.

South Sudan is abounding in oil resources. But, 6 years after autonomy from adjacent Sudan, there are usually 200 km (120 miles) of paved roads in a republic a distance of Texas. In a fighting, food warehouses have been looted and assist workers killed.

The dispute has increasingly separate a republic along racial lines, heading a United Nations to advise of a intensity genocide.

The medical gift Medecins Sans Frontieres (MSF) pronounced it had set adult an puncture involvement in northern Mayendit county to assistance malnourished children. One in 4 children in Mayendit had strident malnutrition, MSF said.

“Providing medical is a vital plea in such a dangerous context: people are constantly relocating to find safety,” MSF pronounced on Twitter.

(Writing by Duncan Miriri; modifying by Richard Lough)

Kremlin stays silent on new US inhabitant confidence adviser

MOSCOW — The Kremlin refrained from criticism Tuesday on a appointment of a new U.S. inhabitant confidence adviser, though one lawmaker pronounced he was expected to take a hawkish position toward Russia.

Army Lt. Gen. H.R. McMaster was named to a pursuit Monday by President Donald Trump to reinstate late Gen. Michael Flynn. Trump dismissed Flynn final week after it was dynamic that Flynn had misled Vice President Mike Pence about a inlet of his discussions with Russia’s envoy to a U.S. during a presidential transition.

Asked about how a Kremlin views a appointment, President Vladimir Putin’s orator Dmitry Peskov pronounced he wouldn’t criticism on what is Trump’s privilege to make an appointment.

Peskov pronounced in a discussion call with reporters that “it’s critical to us how a family will rise and what opinion Washington will take.”

“We are patiently following a American partners final their stance,” he added.

Trump’s regard for Putin and his debate promises to urge U.S. ties with Russia have lifted expectations of a unfreeze between a dual countries. Relations between Washington and Moscow have plunged to their lowest indicate given a Cold War over a Ukrainian crisis, a Syrian fight and allegations of Russian nosiness in a U.S. election.

The Kremlin has taken a wait-and-see proceed recently as Trump has encountered an array of hurdles and faced a clever antithesis in Congress to a truce with Russia.

While Peskov spoke with caution, Frants Klintsevich, a emissary control of a invulnerability and confidence affairs cabinet in a top residence of parliament, described McMaster as a “100 percent hawk” who represents a threat.

“Washington’s invulnerability and comprehension wing will control Russophobic policies,” he said, according to RIA Novosti.

Another lawmaker, Viktor Ozerov, warned opposite reckless conclusions, observant it will be Trump who will set a process course.

“The boss might listen to advice, though it’s adult to him to confirm either to mind it,” Ozerov pronounced in remarks carried by a Interfax news agency.

In remarks final year, McMaster pronounced Moscow’s broader idea is to “collapse a post-Cold War security, mercantile and domestic sequence in Europe and reinstate that sequence with something that is some-more sensitive to Russian interests.”

Copyright 2017 The Associated Press. All rights reserved. This element might not be published, broadcast, rewritten or redistributed.

Rioting erupts in immigrant-dominated Swedish suburb

Riots erupted in a heavily newcomer Stockholm suburb Monday night, as masked looters set cars ablaze and threw rocks during cops, injuring one military officer, Swedish officials said.


In this design taken on Monday, Feb. 20, 2017,a policeman investigates a burnt out automobile in a suburb of Rinkeby outward Stockholm. Police in Sweden pronounced Tuesday they were questioning riots that pennyless out overnight in a primarily newcomer Stockholm suburb after officers arrested a think on drug charges. Spokesman Lars Bystrom pronounced unclear people, including some wearing masks, threw rocks during police, set cars on glow and looted shops in Rinkeby, north of Stockholm. (Christine Olsson/TT News Agency around AP)Expand / Contract

A policeman investigates a burnt automobile in a suburb of Rinkeby on Monday.


The assault in Rinkeby began around 8 p.m., when officers arrested a think during an subterraneous hire on drug charges, The Local reported. A organisation shortly gathered, hurling rocks and other objects during officers and call one patrolman to glow his gun “in a conditions that demanded he use his firearm,” military orator Lars Bystrom said.

“But nobody has been found harmed during a stage and we have checked a hospitals and there hasn’t been anyone with what could be gunshot wounds,” Bystrom added.


It came only days after President Trump was mocked during a Saturday debate convene for mentioning Sweden alongside a list of European targets of terror. Trump after pronounced his “You demeanour during what’s function final night in Sweden” acknowledgement was in response to a Fox News news on a country’s interloper crime predicament that aired on Friday evening.

“Sweden. They took in vast numbers [of refugees],” Trump combined during a Florida rally. “They’re carrying problems like they never suspicion possible.”

Sweden’s central Twitter comment – that is operated by a opposite user any week – tweeted during Trump on Monday morning: “Hey Don, this is @Sweden speaking! It’s good of we to care, really, though don’t tumble for a hype. Facts: We’re OK!”

Hours later, a Rinkeby riots began, with a second call starting around 10:30 p.m. Seven or 8 cars were set on glow and many stores saw looting, The Local reported. A photographer from media opening Dagens Nyheter pronounced a organisation of 15 people beat him as he attempted to request a chaos.

“I was strike with a lot of punches and kicks both to my physique and my head. we have spent a night in hospital,” pronounced a photographer, who was not named.

The rioting finished only after midnight.

No arrests were made; however, reports were filed on 3 aroused acts, assault opposite a military officer, dual assaults, desolation and aggravated thefts, authorities said.

Rinkeby is a same area where an Australian “60 Minutes“ crew was pounded by a organisation of group in Apr 2016. The film organisation was attempting to enter a supposed “no go zone,” that authorities repudiate they use as a label. Rinkeby, however, has been strictly personal as one of 15 “particularly vulnerable” areas opposite Sweden.

The country’s primary minister, Stefan Lofven, pronounced Monday, “Yes, we have hurdles like all other countries. There’s no doubt. We have a conditions in a universe where 65 million people had to rush their countries final year, a year before that. 65 million. So that’s a fight for us together.” He also pronounced Sweden was investing some-more in housing, record and a gratification system.

Reports of rapes in Sweden jumped 13 percent in 2016 compared to a prior year, and reports of passionate assaults were adult 20 percent, according to rough information from a Swedish National Council for Crime Prevention.

Recent emigration to Sweden strike a rise in 2015 with some-more than 160,000 haven applications. It forsaken to roughly 30,000 in 2016.

Fox News’ Maria Karlsson and The Associated Press contributed to this report.