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Apple apologizes, issues fix for Error 53 that disables iPhones and iPads
Article Hits: 995
February 18th, 2016 9:14 pm

Apple has released a software update for iPhone and iPad users who found that their devices stopped working after going to third-party technicians for repairs. The problem, known as Error 53, bricks your phone if any non-Apple source tampers with the newest version of the Touch ID fingerprint sensor, installed on the iPhone 5s, 6 and 6s and some models of the iPad. Apple has said it was designed as a security feature to prevent unauthorized access to the phone. But many users called the function a means to stifle independent repair shops that might charge less for repairs than those from an official Apple store.

Thousands affected

According to a report by the U.K.'s Guardian newspaper, Error 53 has affected thousands of people. A Seattle law firm filed a class-action lawsuit against Apple over Error 53, calling the practice of rendering devices unusable if opened by a third party "abusive" to its customers. "Despite knowing about the security features, Apple took no steps to warn consumers," the law suit says. A post on Apple's blog details how to restore your phone if you've run into Error 53. It involves making sure you have the latest version of iTunes installed on your device and then a forced restart. TechCrunch reports that restoring your phone this way will not re-enable Touch ID if it was disabled by the error. You'll still have to get that fixed by an official Apple technician. "We apologize for any inconvenience, this was designed to be a factory test and was not intended to affect customers. Customers who paid for an out-of-warranty replacement of their device based on this issue should contact AppleCare about a reimbursement," Apple said in a statement Thursday. more

Guggenheim's $240 Billion Man Says Nasdaq to Tumble Below 3,800
Article Hits: 1049
February 9th, 2016 2:16 pm
Technology stocks will tumble further this year as investors flee to safety and buyers stay on the sidelines, according to Scott Minerd, chief investment officer for Guggenheim Partners LLC. The Nasdaq Composite Index will probably drop below 3,800, sliding another 13 percent, he said. The tech-heavy index already has fallen that much this year, closing at 4,363 on Friday, its lowest since October 2014. That’s more than 16 percent below the all-time high it reached in July. “The market sentiment is so bad,” Minerd, who manages about $240 billion, said Sunday in a telephone interview from Los Angeles. “The market is repricing to absorb and reflect the uncertainty around earnings and the economy going forward.”
 
Nasdaq growth stocks such as Amazon.com Inc. and Netflix Inc., the biggest gainers in 2015 on the Standard & Poor’s 500 Index, face new scrutiny amid doubts about their high price-earnings ratios and broader economic concerns, driven by China and oil.
LinkedIn Corp. plunged the most ever Friday on the New York Stock Exchange amid a wave of analyst downgrades after the company said its new business lines for sales and marketing tools aren’t going to grow as quickly as predicted. Tableau Software Inc., a maker of data-analysis and charting software, saw its value plummet by half Friday after falling short of fourth-quarter estimates, dragging down bigger software companies such as Salesforce.com Inc.
 
Minerd predicted on Jan. 20 that the S&P index will decline to 1,650 this quarter, a forecast he maintains. The index has dropped 8 percent this year, closing on Feb. 5 at 1,880. He also predicted last month that oil could fall as low as $25 a barrel before rebounding. He said he’s holding onto that forecast even after prices closed at $34.06 Friday, up from a low of $27.88 on Jan. 20. Minerd said he sold out of stock positions in early January in his funds such as the $3.18 billion Guggenheim Macro Opportunities Fund, which has fallen 1.5 percent this year. He expects a bear market similar to 1987 or 1998 rather than a crash like the dot-com bust of 2000 or the 2008 financial crisis, because the probability of a U.S. recession is very low. “I don’t think we’ll have that kind of a wipeout here,” he said. “Stocks aren’t as overvalued as they were then.” more
Low oil prices hollow out Calgary's downtown core
Article Hits: 819
February 9th, 2016 1:03 pm
The heart of our city is hollowing out.
 
Gone are thousands of downtown white collar office jobs, as oil and gas companies cut employees and slash entire departments. Alberta unemployment rate hits 7.4%, highest since 1996 Jingle mail rears its ugly head in Alberta again The core is the economic powerhouse of Calgary — a measure of our vitality as a city. Calgary suffered a net loss of 6,800 jobs in Calgary in 2015, which has contributed to the growing vacancy rate in downtown office space.  Whether seen against the flat prairie, or against the backdrop of the mountains, they are the enduring image of Calgary. They are part of who we are. To a Calgary eye, cranes symbolize good times. A darkened office floor is an economic black eye. The CBC's Rob Brown met up with Mary Moran, CEO of Calgary Economic Development for a tour though some of our city's silent cubicle farms, abandoned offices and empty coffee rooms. They talked about who's been, who's gone, and who could move in to give our city a much needed economic boost.You can watch the video of their tour above. Keep reading below for an edited and condensed version of their conversation.The downtown vacancy rate is currently estimated to be as high as 18.5 per cent. What does this emptying out of downtown office space do to the city's psyche?I think it's tough for people to come to work every day and see empty office space. For a lot of people, particularly young people, they haven't been through such a dramatic recession before. 
 
I would say the more seasoned people have probably a little bit more tolerance for it, because they have seen it before. Calgary had significant growth in the late 70's, from a downtown office space perspective. In some ways, it was almost harder in the 80's, because all of a sudden you have extra capacity added on in a rapid rate and then contracted very quickly. This is definitely different than 2009 where office space was threatening to be as high as it was today. more



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