These are the unfamiliar jobs that pay six figures
Afternoon roundup: Costco to pay for selling fake Tiffany rings, Philippines president likens himself to Hitler
• California Governor Jerry Brown has signed a bill that allows cars with no drivers or driver controls to test in certain areas, a big gain for autonomous vehicle companies.
• Philippines President Rodrigo Duterte seemingly compared himself to Hitler, saying he'd be "happy to slaughter" 3 million drug addicts.
• Enterprise data storage company Nutanix had a strong IPO yesterday, raising $238 million in its NASDAQ debut.
GlaxoSmithKline to pay $20 million fine over bribing of foreign officials
Pharma giant GlaxoSmithKline agreed to pay $20 million to the U.S. Securities and Exchanges Commission after an investigation into whether a Chinese subsidiary bribed foreign officials in the form of gifts and travel to increase product sales.
The company didn't confirm or deny the findings, but agreed to provide status reports to the SEC for the next two years. CF
California approves testing of driverless cars—this time, no driver required
The state previously allowed autonomous-car testing on public roads, provided a driver was in the driver's seat and the car was equipped with a steering wheel, a brake pedal, and an accelerator. Now, California Governor Jerry Brown has signed a bill that permits testing of cars without drivers or driver controls in specific locations.
Specifically, the tests will be permitted "only at a privately owned business park designated by the [Contra Costa Transportation] authority, inclusive of public roads within the designated business park, and at a GoMentum Station located within the boundaries of the former Concord Naval Weapons Station."
[Photo: Google] SK
Newsweek suffers “massive” cyberattack after publishing investigative report about Donald Trump
Newsweek was the victim of a distributed denial of service (DDoS) attack last night after it published a critical article about Donald Trump, reports Talking Points Memo. The magazine's cover story this week detailed how Donald Trump's companies allegedly violated the Cuban embargo.
Yesterday, after the article was published, Newsweek began experiencing the attack, which made the site temporarily inaccessible. Fast Company reached out to the magazine for more information. Editor-in-chief Jim Impoco provided this statement:
Last night we were on the receiving end of what our IT chief called a "massive" DDoS (denial of service) attack. The site was down for hours at a time when Kurt Eichenwald's story detailing how Donald Trump's company broke the law by violating the U.S. trade embargo against Cuba, was being covered extensively by prominent cable news programs. Our IT team is still investigating.
News: The reason ppl couldnt read #TrumpInCuba piece late yesterday is that hackers launched a major attack on Newsweek after it was posted.— Kurt Eichenwald (@kurteichenwald) September 30, 2016
This week in fintech
Money tech can be hard to follow, iterative, and boring. To spare you from having to read about it yourself, we put together a list of some of the launches, funds raised, and headlines that hit this week:
• Online-only bank, Simple, re-emerged into public consciousness with the launch of shared accounts.
• Millennial-focused investment app Robinhood debuted a new $10 monthly membership that gives customers extended investment hours and fast access to additional capital.
• International remittance app Remitly raised $38 million and is expanding further into Latin America.
• ClearExchange, the company that big banks are partnering with to compete with peer-to-peer payment app Venmo, signed on Citibank this week. So far, the peer-to-peer network includes Wells Fargo, J.P Morgan Chase, U.S. Bank, Bank of America, and Capital One. RR
Nutanix IPO offers glimmer of hope amid drought
For Nutanix, an enterprise data storage company, the IPO delay was worth the wait. After putting its public offering on hold last winter, after market conditions grew stormy, Nutanix raised $238 million yesterday in its Nasdaq debut. The San Jose, California-based company, which had initially priced the 14 million shares it hoped to sell at $13-$15, reset prices at $16 based on investor demand.
That promising public start may convince other technology companies to move forward with IPO plans, especially as Nutanix is not yet profitable. The company is growing fast, with revenue up 84% to hit $445 million for the fiscal year ending July 31, but continues to operate at a loss. Wall Street's warm reception suggests that other high-growth companies that have yet to turn a profit may benefit from a similar welcome.
During peak trading today Nutanix shares rose to $29.80, valuing the company at over $4 billion. AOC
The horrifying story behind the battery that powers your smartphone
A disturbing deep dive by the Washington Post today traces the pipeline of cobalt from underground mines in Congo to manufacturing centers in Asia, where the mineral is used as an ingredient in the lithium batteries that power mobile devices and laptops.
An estimated 100,000 miners, including children, work in punishing and dangerous conditions to excavate the material, the Post found investigation found, which may end up powering devices and computers made by the world's biggest brands, including Apple and Samsung. Congo is the source of 60% of the world's cobalt. The Post, to its credit, did not shy away from asking Amazon—owned by current Post owner Jeff Bezos—about the source of cobalt that powers its Kindle devices. The company did not respond to direct questions, but said it conducts audits to make sure its manufacturing partners comply with its policies.
The man leading Hillary Clinton’s get-out-the-vote effort is a Silicon Valley CEO
Donnie Fowler, the founder and CEO of Dogpatch Strategies, a consulting firm that works with tech firms, has been picked by the Democratic National Committee with leading the effort to get voters to the polls for Hillary Clinton on November 8. He told Politico that the main difference between the campaigns is that Donald Trump is great at marketing but lacks a sales team—"nobody to go to the voter and make the sale. And Hillary has a very deep and sophisticated sales team."
Of course, Fowler is not such a strange choice given his pedigree—he's the son of longtime DNC chairman Don Fowler and he's worked on plenty of presidential campaigns going back to Al Gore's failed effort in 2000. MB
Yahoo hack not directly “state-sponsored,” says security firm
According to Arizona-based security firm InfoArmor, the recently reported massive Yahoo hack wasn't directly carried by state-sponsored hackers but by a commercial group that sold the data both to a government-sponsored buyer and to spammers.
The organization, which InfoArmor calls Group E, is a "group of professional blackhats from Eastern Europe," the company says. The group hasn't made the data available on darknet marketplaces, despite claims on some forums to offer Yahoo data for sale, according to InfoArmor. SM
Morning intel: Microsoft zeroes in on AI, FCC expands scope of emergency alerts
• Microsoft is restructuring to bulk up its AI research: The company is combining its research group with the division responsible for Bing and Cortana, creating a 5,000-person team focused on artificial intelligence research.
• Yesterday, the FCC put off voting on a proposal to make set-top boxes optional. But one thing the FCC did vote in favor of was to increase the length of emergency alerts to 360 characters, as well as include photos and phone numbers (and, later this year, embedded links).
• Volvo is setting up a self-driving car R&D center in Silicon Valley, where it will station 70 engineers, according to BuzzFeed News.
• Google's suite of enterprise apps—Gmail, Google Docs, Google Drive—will now be referred to as the G Suite. Google is also introducing enterprise-focused updates like Team Drives, a collaborative take on Google Drive.
• Following the NJ Transit train crash yesterday—which killed one person and injured about 100—New Jersey's Hoboken station is still not operational. The cause of the crash is still unclear, though officials are not reporting any more fatalities. PM
In China, ride-sharing wars spill over into bicycles
Competition in China's ride-sharing market has been fierce, so fierce that Uber gave up its battle with homegrown rival Didi Chuxing in August. Now the battle for urban transportation in China is expanding from cars to bicycles as investors plow a combined $200 million into Beijing-based bike-sharing services Ofo and Mobike.
Didi Chuxing backs oFo, which recently raised $100 million-plus and is now valued at more than $500 million. Mobike, also coming off a $100 million round, has raised funding from traditional investors, including Asian-focused private equity firm Hillhouse Capital, which also backs Airbnb. AOC
After 12 years of chasing it, Rosetta crash-lands on a comet
The Rosetta spacecraft crash-landed on a comet after 12 years of chasing it across the universe, said the European Space Agency today. When Rosetta landed, scientists at the control center in Germany embraced and clapped, reports Reuters. And ESA director general Jan Woerner expressed his appreciation on Twitter:
Here's the video:
And here's the sequence of images captured by Rosetta just before it landed, via the ESA: