Technology

Macquarie's equity research team has just offered up a valuable economics lesson which seems to perfectly, if inconveniently, explain why their business model is doomed by the upcoming implementation of MiFID II. 

So what happens when you compete in a 'slightly' fragmented market (see below) to sell a highly commoditized product to a customer that places so little value on the product that it has historically only existed courtesy of subsidies from trading revenues...then a regulatory body suddenly comes along and says you have survive as an independent operation?

A brand new Manhattan Shake Shack set to open its doors later this month in Astor Place will offer guests all the same great-tasting burgers, dogs and shakes as other locations but it will be missing one costly component that most other restaurants still depend on: cashiers. 

As the NY Post points out today, Shake Shack will be using it's newest location to test a fully automated ordering system that will allow customers to order at kiosks or via the company's app and then pick up their food once they get a text. 

Is it too late for Verizon to get some more of its money back?

After the entity responsible for selling Yahoo agreed to cut $350 million off the company’s sales price earlier this year following revelations that hackers had stolen sensitive  account information of as many as 1.5 billion user accounts during two separate data breaches, the Wall Street Journal is now reporting that the scale of one of those intrusions was much larger than initially believed.

As Democrats in Congress continue in their endless crusade to prove to you that Russia swayed the entire U.S. Presidential election with a measly $100,000 worth of Facebook ads, Adam Schiff (D-CA) has come forward this afternoon to let you know that he now has his hands on the 3,000 ads in question and plans to release a "representative sampling" of them in an effort to "inoculate the public against future Russian interference in our elections."

Once you've recovered from the laughing fit, here is his full statement:

Authored by Martyn Williams via 38North.org,

A major Russian telecommunications company appears to have begun providing an Internet connection to North Korea. The new link supplements one from China and will provide back-up to Pyongyang at a time the US government is reportedly attacking its Internet infrastructure and pressuring China to end all business with North Korea.