Wealthy Americans snap up vacation homes and invest in a change of scenery in a hot market


USA TODAY 07 July, 2021 - 02:01am 15 views

What is Jedi cloud project?

The DoD's General Purpose Enterprise Cloud, also known as the Joint Enterprise Defense Infrastructure (JEDI) Cloud, is the initiative that will deploy foundational cloud technology, while leveraging commercial parity, to the entire Department, with a focus on where our military operates--from the homefront to the ... cloud.milJEDI Cloud Features

The daily business briefing: July 7, 2021

The Week Magazine 07 July, 2021 - 06:32am

The Defense Department announced Tuesday that it was canceling its $10 billion JEDI cloud-computing contract with Microsoft. The decision came after Amazon protested the decision to give the contract to rival Microsoft. The Pentagon said it would start the procurement process over again. The process will start out with Amazon and Microsoft competing against each other, but other cloud vendors are expected to be allowed to make bids at some point. "The Department has determined that, due to evolving requirements, increased cloud conversancy, and industry advances, the JEDI Cloud contract no longer meets its needs," a Defense Department spokesperson said in an unsigned news release.

AAA said Tuesday that it expected U.S. gasoline prices to rise by 10 to 20 cents per gallon through late August. The average price for a gallon of regular gas has reached $3.13, up from $3.05 a month ago, AAA said. A year ago, the average pump price for regular gas in the United States had dropped to $2.18 per gallon, because the coronavirus crisis was forcing people to stay home. Upward pressure on prices increased this week when OPEC talks broke down, blocking a deal on raising production to meet surging demand. "Robust gasoline demand and more expensive crude oil prices are pushing gas prices higher," Jeanette McGee, an AAA representative, said in a statement. "We had hoped that global crude production increases would bring some relief at the pump this month, but weekend OPEC negotiations fell through."

The Republican National Committee said Tuesday that Russian hackers breached one of its technology providers, Synnex, last week, around the time of a massive global ransomware attack that affected up to 1,500 businesses. The RNC said none of its data was compromised, and the extent of the hack against Synnex was not immediately clear. Early indications pointed to Russia's SVR intelligence agency as the suspected culprit, investigators said. The SVR hacked the Democratic National Committee six years ago, and more recently was blamed for the SolarWinds attack that targeted several government agencies and some of the largest U.S. corporations. Last week's ransomware attack was one of the largest in history. The hackers reportedly demanded $70 million in bitcoin as ransom to free up the computer systems of the targeted companies.

U.S. stock futures made modest gains early Wednesday after the S&P 500 snapped a seven-day winning streak. S&P 500 futures were up by 0.1 percent several hours before the opening bell. Futures tied to the Dow Jones Industrial Average were flat, while those linked to the tech-heavy Nasdaq were up by 0.4 percent. The S&P 500 fell by 0.2 percent on Tuesday, ending its longest winning streak since August. The Dow dropped by 0.6 percent. The Nasdaq gained 0.2 percent, closing at an all-time high. "It is really the tech space that's been driving the market," said Esty Dwek, head of global market strategy at Natixis Investment Solutions. Wall Street has seen a series of records recently as the economy rebounds from the coronavirus crisis but the Federal Reserve sticks with policies to support the recovery.

The Peacock streaming service has reached a deal with Universal Filmed Entertainment Group to offer all Universal films starting in 2022, the two companies, both subsidiaries of Comcast's NBCUniversal, announced Tuesday. The addition of Universal's library, which includes the new Jurassic World and Minions movies, marks the latest sign of rising competition for streaming viewers. Universal films will become exclusively available on Peacock within four months of their theatrical premieres. The films will be available only on Peacock for the first and last four months of the 18-month window following their theater debuts. Peacock also plans to start developing Peacock-only content.

Jeff Bezos hits wealth record of US$211 billion on Pentagon move

Yahoo Singapore News 06 July, 2021 - 10:33pm

(Bloomberg) — Jeff Bezos is leaving the rest of the world behind when it comes to wealth accumulation.

The world’s richest man reached a record US$211 billion net worth Tuesday after Amazon.com Inc. shares rose 4.7% after the Pentagon announced it was canceling a cloud-computing contract with rival Microsoft Corp. The rally raised Bezos’s fortune by US$8.4 billion, according to the Bloomberg Billionaires Index.

The last time anyone in the Bloomberg ranking neared this amount was in January, when Tesla Inc.’s Elon Musk briefly hit US$210 billion. The two men spent the first part of the year trading the top spot as the world’s richest person, but Bezos has cemented his hold on No. 1 since mid-March as Amazon shares climbed almost 20% during that time.

Soaring stock prices in recent months have boosted the fortunes of a group of tech titans including Musk. He remains in second place behind Bezos with a US$180.8 billion net worth even as Tesla shares fell Tuesday. French luxury goods magnate Bernard Arnault is third at US$168.5 billion.

Bezos’s record haul is even greater than during a 2020 Amazon stock surge, when his net worth topped out at US$206.9 billion as the pandemic turbocharged the company’s price. Bezos, 57, officially stepped down as Amazon’s chief executive officer this week after a 27-year run. He still owns about 11% of the company and serves as the firm’s executive chairman.

The Pentagon said Tuesday it was scrapping a US$10 billion cloud-computing contract awarded in 2019 to Microsoft Corp. after several years of wrangling between the government and some of the biggest U.S. tech companies over the deal. The decision indicates it planned to split the work between Microsoft and rival Amazon.

MacKenzie Scott, Bezos’s ex-wife and the 15th-richest person in the world, saw her wealth jump US$2.9 billion Tuesday, eclipsing the US$2.7 billion she’s given away so far this year. It’s just a reminder that some billionaires can’t give their money away faster than they make it.

Those who have received the Sinovac vaccine locally as well as returning Singapore residents who have received a vaccine overseas different from the two under the national vaccination drive would be allowed to receive two doses of the Pfizer or Moderna vaccine.

The Chinese border city of Ruili went into lockdown on Wednesday after mass testing uncovered 15 new locally transmitted Covid-19 cases. Authorities in the southwest province of Yunnan, which neighbours Myanmar, said genome sequencing of samples from seven patients showed the strain was closely related to the highly transmissible Delta variant and the strain circulating in Myanmar. Ruili party chief Zhai Yulong said authorities would trace the source of the latest outbreak and strengthen border

How effective are Covid vaccines if your immune system is compromised by HIV, cancer or a recent organ transplant?

As the summer heat began to bear down on Hong Kong in the early hours of May 21, four men loaded ice-cold styrofoam boxes onto two speedboats off a pier in the small fishing village of Lau Fau Shan in the city’s northwest. Their suspected destination was mainland China, just a few kilometres across Deep Bay, in Guangdong province, according to Hong Kong customs. One of the speedboats never made it out of Hong Kong waters. The other sped off carrying all four men as Hong Kong customs and marine p

Oil prices briefly spiked Tuesday before sinking after the latest talks by OPEC+ crude producers fell apart as global equity markets mostly retreated.

A US software firm hit by a major ransomware attack that crippled hundreds of companies worldwide was working Tuesday to restart its servers to bring customers back online, but said it had run into further technical difficulties.

The United States conducted 36 reconnaissance flights over the South China Sea in June, half the number from May, a Beijing-based think tank said, saying the US had temporarily shifted focus to the East China Sea. In a monthly summary, the South China Sea Strategic Situation Probing Initiative (SCSPI) said there was a “significant” increase in reconnaissance flights the US sent to the East China Sea last month, compared with its previous “sporadic” sorties. The 22 large-scale spy planes sent to

Tributes poured in on Wednesday from Indian actors, politicians, sports personalities and even an animal rights group after much-loved Bollywood veteran Dilip Kumar died aged 98.

A Hong Kong teenager who was one of 12 fugitives intercepted by the Chinese coastguard while attempting to flee to Taiwan last summer has pleaded guilty to charges stemming from a firebomb attack on a local police station during 2019’s social unrest. Hoang Lam-phuc admitted in District Court on Tuesday that he hurled a petrol bomb at Mong Kok Police Station in the early hours of October 14, 2019 in hopes of killing officers there, and that he had kept three more of the incendiary devices at his

Retired Chinese military personnel would be a top priority for conscription in wartime, according to draft regulatory changes released by the Ministry of Veterans Affairs on the weekend. The proposed changes to the country’s conscription regulations spell out for the first time how authorities would enlist veterans and other conscripts while the country was on a war footing. Under the regulations, the State Council or the Central Military Commission would issue mobilisation orders and hand respo

Ethiopia has started the second phase of filling the reservoir of its mega-dam on the upper Blue Nile, Egypt and Sudan said, raising tensions Tuesday ahead of an upcoming UN Security Council meeting on the divisive project.

Canberra has approved the acquisition of an additional stake in Grosvenor Place, an iconic Sydney office building, by China’s sovereign wealth fund. China Investment Corporation (CIC) agreed to buy the stake for A$925 million (US$696 million) in November last year, but had to wait for approval from Australia’s Foreign Investment Review Board (FIRB). The approval means CIC will own 75 per cent of the 44-storey building. The go-ahead, reported by The Australian, comes as a surprise amid heightened

For those about to turn 55 years old, here are the details on the widely-discussed CPF pre-retirement ‘hack’ that allows you to have more money earning 4% interest per annum, risk free. If you’re living in Singapore, the planning of your finances and your retirement […] The post CPF Special Account (SA) Shielding: How You Can Perform This Retirement ‘Cheat Code’ appeared first on SingSaver Blog - We Compare, You Save.

The chairman of a Chinese aerospace investment firm has been detained by Beijing police for allegedly attacking two academics, one of them in her 80s. Police took Zhang Tao into custody a month after the alleged assault on June 6, with no charges brought so far. A Chinese criminal defence lawyer said police needed to fully explain the reason for the delay in the arrest.Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new pl

China’s newest and biggest research vessel is expected to make its maiden voyage to the South China Sea in October as part of Beijing’s efforts to boost exploration in the resource-rich waters. The vessel was manufactured by Shanghai Jiangnan Shipyard, builder of China’s second and third aircraft carriers and was handed over to researchers at Guangzhou-based Sun Yat-sen University, after which it is named, in a ceremony in Shanghai last month. Professor Yu Weidong, from the university’s school o

Protesters hit the streets across Myanmar on Wednesday to mark the anniversary of 1962 student protests against the country's first junta, vowing defiance against its latest incarnation more than five months after it seized power.

Malaysians struggling to make ends meet during a worsening coronavirus outbreak have hoisted white flags outside their homes in a desperate plea for help that has swept the country.

Hong Kong's leader on Tuesday brushed off a warning by major tech companies including Google, Facebook and Twitter that they may quit the financial hub if authorities push ahead with a new privacy law.

Online brokerages are now offering cryptocurrency products for investors in Singapore. Find out what's the difference between trading on an...

China's central bank warned companies on Tuesday against assisting cryptocurrency-related businesses as it shut down a software firm over suspected involvement in digital currency transactions.

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