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If there were any lingering doubts about whether video game tournaments were becoming a mainstream phenomenon, today those doubts were dispelled. NBC Sports Group, part of media giant NBCUniversal, has announced it will launch an esport tournament of its own. Participants will compete in regional, national and international rounds. More than 40 hours of coverage will be available via live-streaming and video-on-demand. The game chosen for the inaugural tournament, Rocket League, pits players, as vehicular avatars, in a soccer match. Even as viewership for traditional sports such as baseball, basketball and football have steadily declined, esports numbers have gone in the opposite direction. Esports, short for electronic sports, are competitions where professional gamers publicly play against each other. The global audience for esports is expected to reach 385 million this year, according to market research firm Newzoo. About 191 million of those people are dedicated esports viewers while the other 194 million people are considered “occasional viewers.” NBC Sports hopes that by tapping into the esports market, it can attract new viewers. According to NBC Sports, Rocket League, developed by Psyonix, has a community of more than 32 million players. NBC Sports is not the only company that views esports tournaments as a way to grow its business. Earlier this month at the Electronic Entertainment Expo, E3, in Los Angeles, Intel announced that it was expanding its partnership with ESL Gaming and Oculus to launch the VR Challenger League, a global gaming competition that is slated to kick off in July. Intel is pursuing virtual reality opportunities in esports, noting that it expects the audience for video game tournaments to grow to around 500 million people by 2020. Related Professional video gamers eligible for athlete visas Professional video gamers earn lots of real life dollars During last year’s Olympic games in Rio, competitive gamers from around the world gathered for a tournament of their own. At the time, the number of esports fans was estimated to be about 150 million. Esports tournaments are nothing new. Back in 2013, Marketplace interviewed the organizers of Major League Gaming, which was not only organizing competitive gaming events but also ensuring that players from around the world would be able to attend. That year the organization was able to convince the U.S. Citizenship and Immigration Services to issue athlete visas to professional gamers. "Fourteen million people tune in to the All-Star Weekend. And when they have a championship event, they are going to have 15,000 to 20,000 people in the room, and those people are there to see not only the game being played, but also the players," Sundance DiGiovanni, CEO of MLG, said at the time. "Bringing them in from Europe and bringing them in from Asia is a key component to that." The future of sports, at least when it comes to lucrative audience numbers, might just be video games. At least that is what NBC and Intel are betting.

Read more: Marketplace All Stories

The Orange County (CA) District Attorney's office remains in the news. It's not often an entire prosecutors' office gets booted off a high-profile murder case, but that's what happens when misconduct occurs on a massive scale. An open-and-shut murder case with eight victims is now the DA's perpetual nightmare. Judge Thomas Goethals kicked the agency to the curb after uncovering repeated discovery violations committed by prosecutors. But the problems go back further than this case. The office

Read more: Techdirt.

Ethereum suffered dramatic losses on Wednesday, sliding from $360 to $260 before rebounding, in the process experiencing what appears to have been its first flash crash, when it plunged by 96% from $315 to $13 on massive volume, before rebounding. From Tyler Durden:   As tends to happen without fail during volatile crypto-periods, the crash […] The post Ethereum Flash Crashes Massive 96% appeared first on Silver Doctors.

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Since we first highlighted the cash-crunch in Qatar over a week ago, the situation has got notably worse (as liquidity costs rise further, signalling Qatar's financial system is running out of dollars). The good news for Qatar - the world's wealthiest nation on a GDP/capita basis - is that it has enough financial firepower to withstand a prolonged financial siege, and defend its currency and economy, Finance Minister Ali Shareef Al Emadi told CNBC in an interview broadcast last

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This is how bad things are in the United States. The post This Is How Bad Things Are In The United States appeared first on King World News.

Read more: http://kingworldnews.com/this-is-how-bad-things-really-are-in-the-united-states/

Millienials look for instant gratification Spend half of their income on leisure Instant gratification doesn’t work if need to save for the future Savings rates falling, few have retirement funds Important to understand marginal difference between spending and pleasure Future wealth depends on what you decide to keep and invest in now This week the festival of all festivals begins, Glastonbury 2017. Ed Sheeran, Foo Fighters and Barry Gibb will each be singing to the 250,000 revellers who

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After more than 20 years, Jim Quigley left his job at a Wall Street investment firm for a smaller market. He got elected town supervisor in Ulster, New York, about 100 miles north of Manhattan. Population: 12,251.   “My family's been in this community since 1849,” Quigley said. These days, Quigley is working 60-hour weeks, trying to keep the town’s budget in the black. He’s been preparing for a drop in tax dollars from Ulster’s largest taxpayer, the Hudson Valley Mall. About two years ago, one of the mall’s anchor stores, JCPenney, closed. Macy’s followed. Then the smaller apparel stores and mom-and-pops started to disappear. In 2015, the mall’s owner defaulted on its debt and the bank later took over. In 2009, the property was valued at $135 million. The bank sold it in 2017 for just over $8 million. Now the new owner, Hull Property Group, based in Augusta, Georgia, which didn’t respond to requests for comment, is asking the town to lower its tax bill.  Quigley said the mall could end up paying about a quarter of a million dollars less in taxes in 2018. In some cities, that would be a rounding error. But in Ulster, that amount represents about 6 percent of the town’s total tax revenue. The money helps pay for basic services like sewers, roads and the fire department. He said the town has two options: raise taxes or cut costs. “We might not be able to cut grass as much as we used to,” Quigley said. “We might not be able to pave the same number of feet of roads every construction season.” One store closure after another It seems like every time you turn around, another retailer announces that it's shutting down stores: JCPenney, Sears, Payless, Michael Kors, Ann Taylor — brands you'd find at your local shopping mall. There are many reasons the stores are struggling. Online retail plays a role. In some towns, like Ulster, demographics do, too.   Ulster used to be a company town. In the 1950s, IBM opened a campus there, where more than 7,000 workers built computer systems for things like missile defense and aircraft control. The Hudson Valley Mall opened in the '80s, when times were good. Then the computer giant restructured its business. “When IBM left in the mid-'90s, it left a gigantic hole in our community,” Quigley said. Related Brick and mortar stores are dying, but not at this mall Outlet malls experiment with food and full-price stores to maintain growth US retail is hurting, and your mall is probably feeling it The youngest workers transferred. The older ones retired early. Now, 43 percent of Ulster’s residents are age 50 or older, and they don’t have a lot of disposable income to shop. That’s clear when we get to the Hudson Valley Mall. It doesn’t look run down. The lights are working. The floors are clean. On a weekday afternoon, there are people walking around. But about 40 percent of the stores are vacant. Many of the now-closed stores, like American Eagle and Hollister, catered to teenagers. “It’s quite problematic for a retailer to succeed when there’s no customers,” Quigley said. Winners and losers What some customers want is changing, too. And while that hurts places like Ulster that depend on a mall, it's helping other cities and towns. Kingston, New York, is just a 10-minute drive from the mall. On a weekday afternoon, the city's main drag is buzzing with people. They're ducking into shops and eating at cafes that serve vegan milkshakes and quinoa with edible flowers. "I think a lot more people have become conscious of shopping local," said George Volpe, who works at a plant store called Green Thumbs Plant Care. People are also spending more money on experiences, like eating at restaurants, and less on clothes. Volpe said there used to be a lot of empty stores in this part of Kingston. Not anymore. And he doesn't think much of the Hudson Valley Mall. "The mall is basically dead at this point," he said. The worst-case scenario A recent Credit Suisse report estimates that about one in four U.S. malls will shut down during the next five years. That can be the beginning of a downward spiral for towns, said Thad Calabrese, associate professor at the New York University Wagner Graduate School of Public Service. "When you have large, blighted properties, which empty malls are, it does not telegraph that this is a municipality that is thriving, growing and the place you want to do business," Calabrese said. "It gives quite the opposite, that it's a city in decline." That perception can hurt surrounding property values. “Most studies have found that the malls have a positive impact on residential property,” said Lucy Dadayan, senior research scientist at the Rockefeller Institute of Government. “The reverse is true as well.” And if a mall stays vacant for a long time, the local government can end up paying to maintain the property’s lighting, electricity, roads, water lines and other infrastructure. “They may have to take on some of these costs that used to be paid by the owner or the tenants of the mall,” said NYU's Calabrese. In Ulster, the Hudson Valley Mall's new owner has told local media that it plans to turn the property around by attracting national brands with cheap rent. Jim Quigley, the town supervisor, hopes that works. He has roads to pave. 

Read more: Marketplace All Stories

Last night's special election for Georgia's 6th District was historic for many reasons, not the least of which was the shear amount of money that flowed into the race.  As we pointed out last night, Jon Ossoff spent a staggering $22 million dollars versus only $3 million for Handel...all for a seat where candidates usually spend about $1 million each.   Unfortunately, it wasn't enough as Ossoff still lost...resulting in a devastating waste of $176 per vote, or roughly 7.6x more than

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This week the Fed announced that they are going to begin reducing their $4.2 trillion balance sheet starting this year. Here’s what Louis-Vincent Gave at Gavekal Research said about this yesterday (see Louis-Vincent Gave on Tech, Fed Balance Sheet, and […] The post Global Liquidity Nearing a Tipping Point appeared first on ValueWalk.

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The following is a summary of our recent podcast interview with Robin Griffiths, which can be accessed on our site here or on iTunes here. Markets Have Been Strong, But Narrow Focus Is Worrying After Trump’s election, when US equities markets took off, […] The post Robin Griffiths on A Market Crash and Why He Likes India appeared first on ValueWalk.

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Uber just cannot seem to help itself, finding a way to get in the news, and often in ways that leave its image in tatters. You could see this pattern in full display last week, where Travis Kalanick, its founder […] The post Uber’s Bad Week: Doomsday Scenario Or Business Reset? appeared first on ValueWalk.

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It's officially summer as you may have heard. So this week’s Corner Office is all about the business of vacations. Cruises actually. Specifically, cruises under the umbrella of the Carnival Corporation. One of the biggest travel and leisure companies in the world, Carnival's brands include Carnival, of course, but also Princess and Holland America.  This week, Kai talks with Arnold Donald, who’s been President and CEO of Carnival since 2013.  

Read more: Marketplace All Stories

Authored by Simon Black via SovereignMan.com, In the latest episode of the completely psychotic breakdown of Western values, Canada’s government has just passed a law that champions sexual identity over science... It’s called C-16, “An Act to Amend the Canadian Human Rights Act and the Criminal Code”. Both of these codes prohibit discrimination against individuals based on race, gender, sexual orientation, religion, etc. And this new law includes gender identity in that

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The time is coming when AIs will have better judgment than most politicians.” —Joshua Davis Kolanovic’s Deep Dive Into Artificial Intelligence Lacks Human Understanding Imagine that you were given two choices for the next president. The first choice is a […] The post Watson For President? appeared first on ValueWalk.

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Here’s an interview with Warren Buffett – published February 27, 2017 on CNBC – where Buffett talks to Becky Quick about retail, Jeff Bezos, and the power of Amazon’s business model. Becky Quick: A major investor I spoke with recently […] The post Jeff Bezos And The Power Of The Amazon Model appeared first on ValueWalk.

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Oil's latest foray into a bear market has left the world's biggest junk bond ETF mostly unscathed, with the damage so far contained to the energy sector. Investors still aren't demanding higher overall premiums for the riskiest corporate debt and the $18.4 billion iShares iBoxx High Yield Corporate Bond ETF has gained 3.9 percent this year, even as credit spreads for energy companies widened to the highest since September after crude slid below $43 a barrel.  "There may be more pain on the way" for the energy patch, warns Bloomberg Intelligence senior credit analyst Spencer
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It has never been more evident that the entire globalist system is falling apart. While James Comey hung himself in the public square last week, it was again revealed that the “official” mainstream media narrative about the Russians hacking the US election is filled with more holes than Swiss cheese, and the strategy to use […] The post The Entire Globalist System is Falling Apart appeared first on Silver Doctors.

Read more: Silver Doctors

While Bitcoin, and recent Chinese and Korean momentum favorite, Litecoin, have been relatively stable for much of the day, Ethereum suffered dramatic losses on Wednesday, sliding from $360 to $260 before rebounding, in the process experiencing what may have been its first flash crash, when it plunged by 96% from $315 to $13 on massive volume, before rebounding.   As tends to happen without fail during volatile crypto-periods, the crash almost immediately took the Coinbase offline. Over

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Is the Yellowstone supervolcano is gearing up for a MAJOR eruption? From Michael Snyder: If you follow my work on a regular basis, then you already know that I spend a lot of time documenting how the crust of our planet is becoming increasingly unstable. Most of this shaking is taking place far away from the […] The post 296 Earthquakes Reported In The Vicinity Of The Yellowstone Supervolcano In Past 7 Days appeared first on Silver Doctors.

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“At the time, my life just seemed too complete, and maybe we have to break everything to make something better out of ourselves.”  -Chuck Palahniuk, Fight Club I am still trying to interpret and integrate all that I experienced and learned about disintermediation, about myself, and about y'all at last week's First ZeroHedge Symposium and Live Fight Club in Marfa, Texas. I hope that writing this after-action report will help me to

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The Oracle 4Q F2017 earnings report was released after closing bell. The company posted GAAP earnings of 76 cents per share and non-GAAP earnings of 89 cents per share on $10.9 billion in revenue, a 3% year over year increase. […] The post Oracle Corporation 4Q F2017 Earnings Released: Shares Rise appeared first on ValueWalk.

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