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News Slideshows (01/19/2017 - #vlrPhone #vlrFilter)


  • 1/26   Press Review #3d #audio
    TECHNOLOGY TOPIC NEWS

    

 - Experience immersive 3D audio with the Ossic X Headphones - TechCrunch   More Information - Immersive 3D Audio Software Tool - Sonic State   More Information - Valve Acquires 3D Audio Company Impulsonic - Niche Gamer   More Information - Sounds Good: Valve Acquires 3D Audio Company Impulsonic - UploadVR   More Information - Hands on: 3D audio with Ossic X headphones - New Atlas   More Information - 3D Audio Creation Comes To Masses With Sennheiser AMBEO Smart Surround Earphones - International Business Times   More Information - Sennheiser's new headphones allow anyone to record 3D audio on a smartphone - FACT   More Information - Ossic's amazingly immersive 3D headphones give you an earful of ... - PCWorld   More Information - Sennheiser's 3D Audio Headphones Could Fix VR's 'Weak Link' - Fortune   More Information - Vuze Is An $800 VR Camera Releasing In March With 3D Audio ... - UploadVR   More Information


Did you see the #crowdfunding campaign that @whmsoft will start? #tailored #3d #vr #audio.
Please share and comment. Campaign link:



vlrFilter Project #kickstarter

    - Experience immersive 3D audio with the Ossic X Headphones - TechCrunch
       More Information

    - Immersive 3D Audio Software Tool - Sonic State
       More Information

    - Valve Acquires 3D Audio Company Impulsonic - Niche Gamer
       More Information

    - Sounds Good: Valve Acquires 3D Audio Company Impulsonic - UploadVR
       More Information

    - Hands on: 3D audio with Ossic X headphones - New Atlas
       More Information

    - 3D Audio Creation Comes To Masses With Sennheiser AMBEO Smart Surround Earphones - International Business Times
       More Information

    - Sennheiser's new headphones allow anyone to record 3D audio on a smartphone - FACT
       More Information

    - Ossic's amazingly immersive 3D headphones give you an earful of ... - PCWorld
       More Information

    - Sennheiser's 3D Audio Headphones Could Fix VR's 'Weak Link' - Fortune
       More Information

    - Vuze Is An $800 VR Camera Releasing In March With 3D Audio ... - UploadVR
       More Information


    Did you see the #crowdfunding campaign that @whmsoft will start? #tailored #3d #vr #audio. Please share and comment. Campaign link:

    WhmSoft

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  • 2/26   U.S exchanges rent helicopter, drape banner in pursuit of Snapchat IPO

    By Lauren Hirsch, Liana B. Baker and Olivia Oran SAN FRANCISCO/NEW YORK (Reuters) - This past November, Nasdaq Inc hired a helicopter to film Manhattan's skyline using Snapchat's new video-camera sunglasses and sent the aerial footage to its social media followers. The New York Stock Exchange - its arch-rival - on the same day tweeted a video shot from the floor of its exchange, showing that it too was using the social media giant's gadget. The scramble to promote Snapchat's "spectacles" is revealing the fierce competition between the two exchanges to host initial public offerings (IPOs) of prominent technology startups.

    By Lauren Hirsch, Liana B. Baker and Olivia Oran SAN FRANCISCO/NEW YORK (Reuters) - This past November, Nasdaq Inc hired a helicopter to film Manhattan's skyline using Snapchat's new video-camera sunglasses and sent the aerial footage to its social media followers. The New York Stock Exchange - its arch-rival - on the same day tweeted a video shot from the floor of its exchange, showing that it too was using the social media giant's gadget. The scramble to promote Snapchat's "spectacles" is revealing the fierce competition between the two exchanges to host initial public offerings (IPOs) of prominent technology startups.


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  • 3/26   Netflix adds a third more subscribers than expected; shares jump eight percent

    Streaming video pioneer Netflix Inc added over a third more subscribers than expected in the last quarter of 2016, a sign of success for its ambitious global expansion that sent its shares up 8 percent in extended trading. Netflix signed up 7.1 million new subscribers globally, far more than the 5.2 million analysts had expected, according to research firm FactSet, beating targets at home and abroad even as it raised prices. Original shows like "Marvel's Luke Cage" and British drama "The Crown" performed strongly around the world, Netflix said, noting that competitors were adapting to compete.

    Streaming video pioneer Netflix Inc added over a third more subscribers than expected in the last quarter of 2016, a sign of success for its ambitious global expansion that sent its shares up 8 percent in extended trading. Netflix signed up 7.1 million new subscribers globally, far more than the 5.2 million analysts had expected, according to research firm FactSet, beating targets at home and abroad even as it raised prices. Original shows like "Marvel's Luke Cage" and British drama "The Crown" performed strongly around the world, Netflix said, noting that competitors were adapting to compete.


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  • 4/26   Indian government wants Apple, but not all officials are biting

    Some Indian officials have baulked at Apple's demands for concessions before it assembles iPhones there, raising doubts about a spring deadline to launch a key project in Prime Minister Narendra Modi's campaign to lure foreign investors. The country is still keen for the U.S. tech giant to produce its signature smartphones there, and Information Technology Minister Ravi Shankar Prasad said on Wednesday that India would keep an "open mind" in negotiations. "We will very much like Apple to come and have a base in India," he said.

    Some Indian officials have baulked at Apple's demands for concessions before it assembles iPhones there, raising doubts about a spring deadline to launch a key project in Prime Minister Narendra Modi's campaign to lure foreign investors. The country is still keen for the U.S. tech giant to produce its signature smartphones there, and Information Technology Minister Ravi Shankar Prasad said on Wednesday that India would keep an "open mind" in negotiations. "We will very much like Apple to come and have a base in India," he said.


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  • 5/26   Bitcoin exchange BTCC says operating normally, no official word from China central bank

    The head of major Chinese bitcoin exchange BTCC said on Thursday the platform was operating normally and that it had stopped offering margin loans last week alongside its competitors Huobi and OkCoin. Chief Executive Bobby Lee also told Reuters that the company had yet to receive any official document from China's central bank, amid state media reports that the People's Bank of China (PBOC) had found "hidden risks" in the BTCC exchange after a probe.

    The head of major Chinese bitcoin exchange BTCC said on Thursday the platform was operating normally and that it had stopped offering margin loans last week alongside its competitors Huobi and OkCoin. Chief Executive Bobby Lee also told Reuters that the company had yet to receive any official document from China's central bank, amid state media reports that the People's Bank of China (PBOC) had found "hidden risks" in the BTCC exchange after a probe.


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  • 6/26   Samsung chief staves off arrest, prosecutor keeps chasing

    By Joyce Lee and Ju-min Park SEOUL (Reuters) - A South Korean court on Thursday dismissed an arrest warrant against the head of Samsung Group [SAGR.UL], the country's largest conglomerate, amid a graft scandal that has led to the impeachment of President Park Geun-hye. Lee, who has led Samsung since his father, Lee Kun-hee, suffered a heart attack in 2014, was still likely to face the same charges of bribery, embezzlement and perjury, legal analysts said, even if he is not detained. Lee left the Seoul Detention Centre carrying a white shopping bag and climbed into a car without talking to reporters, having been held overnight as the court deliberated whether to grant the arrest warrant.

    By Joyce Lee and Ju-min Park SEOUL (Reuters) - A South Korean court on Thursday dismissed an arrest warrant against the head of Samsung Group [SAGR.UL], the country's largest conglomerate, amid a graft scandal that has led to the impeachment of President Park Geun-hye. Lee, who has led Samsung since his father, Lee Kun-hee, suffered a heart attack in 2014, was still likely to face the same charges of bribery, embezzlement and perjury, legal analysts said, even if he is not detained. Lee left the Seoul Detention Centre carrying a white shopping bag and climbed into a car without talking to reporters, having been held overnight as the court deliberated whether to grant the arrest warrant.


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  • 7/26   Toshiba woes intensify on reports of $6 billion writedown, shares plummet

    Toshiba Corp's financial crisis deepened on Thursday as media reported it may book a bigger-than-expected $6 billion writedown on its U.S. nuclear business, sending its shares sliding 15 percent. Toshiba has also approached government-backed Development Bank of Japan (DBJ) for assistance, said a source with knowledge of the matter, who was not authorized to speak on the matter and declined to be identified. Other sources said Toshiba executives will sit down with representatives from its main banks as early as Thursday to discuss possible support.

    Toshiba Corp's financial crisis deepened on Thursday as media reported it may book a bigger-than-expected $6 billion writedown on its U.S. nuclear business, sending its shares sliding 15 percent. Toshiba has also approached government-backed Development Bank of Japan (DBJ) for assistance, said a source with knowledge of the matter, who was not authorized to speak on the matter and declined to be identified. Other sources said Toshiba executives will sit down with representatives from its main banks as early as Thursday to discuss possible support.


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  • 8/26   Footage of apparent animal cruelty on movie set spurs boycott of A Dog’s Purpose

    The footage, which was published on TMZ today, was recorded during the production of family film A Dog’s Purpose and features a German Shepherd named Hercules being lowered into the water as he makes repeated attempts to climb out. A second shot shows Hercules appear to go under the water, at which point production staff shout cut, and handlers scramble to reach him. TMZ says the white water effect was achieved with eight outboard motors in a closed pool, and claims that director Lasse Hallström was present at the time.

    The footage, which was published on TMZ today, was recorded during the production of family film A Dog’s Purpose and features a German Shepherd named Hercules being lowered into the water as he makes repeated attempts to climb out. A second shot shows Hercules appear to go under the water, at which point production staff shout cut, and handlers scramble to reach him. TMZ says the white water effect was achieved with eight outboard motors in a closed pool, and claims that director Lasse Hallström was present at the time.


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  • 9/26   Footage of apparent animal cruelty on movie set spurs boycott of A Dog’s Purpose

    The footage, which was published on TMZ today, was recorded during the production of family film A Dog’s Purpose and features a German Shepherd named Hercules being lowered into the water as he makes repeated attempts to climb out. A second shot shows Hercules appear to go under the water, at which point production staff shout cut, and handlers scramble to reach him. TMZ says the white water effect was achieved with eight outboard motors in a closed pool, and claims that director Lasse Hallström was present at the time.

    The footage, which was published on TMZ today, was recorded during the production of family film A Dog’s Purpose and features a German Shepherd named Hercules being lowered into the water as he makes repeated attempts to climb out. A second shot shows Hercules appear to go under the water, at which point production staff shout cut, and handlers scramble to reach him. TMZ says the white water effect was achieved with eight outboard motors in a closed pool, and claims that director Lasse Hallström was present at the time.


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  • 10/26   Fujifilm upgrades the sensors in its excellent midrange X-series cameras

    Fujifilm X100F Fujifilm Fujifilm is announcing two new cameras today, though they will be very familiar to anyone that follows the company’s product lines. The new X100F and X-T20 are successors to the X100T and X-T10, respectively, and feature familiar designs with the new sensors and processors that debuted with the higher-end X-Pro2 and X-T2 last year. Both cameras will be available in the US starting next month. ...

    Fujifilm X100F Fujifilm Fujifilm is announcing two new cameras today, though they will be very familiar to anyone that follows the company’s product lines. The new X100F and X-T20 are successors to the X100T and X-T10, respectively, and feature familiar designs with the new sensors and processors that debuted with the higher-end X-Pro2 and X-T2 last year. Both cameras will be available in the US starting next month. ...


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  • 11/26   Fujifilm upgrades the sensors in its excellent midrange X-series cameras

    Fujifilm X100FFujifilmFujifilm is announcing two new cameras today, though they will be very familiar to anyone that follows the company’s product lines. The new X100F and X-T20 are successors to the X100T and X-T10, respectively, and feature familiar designs with the new sensors and processors that debuted with the higher-end X-Pro2 and X-T2 last year. Both cameras will be available in the US starting next month. ...

    Fujifilm X100FFujifilmFujifilm is announcing two new cameras today, though they will be very familiar to anyone that follows the company’s product lines. The new X100F and X-T20 are successors to the X100T and X-T10, respectively, and feature familiar designs with the new sensors and processors that debuted with the higher-end X-Pro2 and X-T2 last year. Both cameras will be available in the US starting next month. ...


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  • 12/26   Fujifilm’s first medium-format mirrorless camera arrives next month

    Fujifilm has announced that the GFX 50S medium-format mirrorless camera will be available for purchase in the US in late February. The GFX 50S is Fujifilm’s first medium-format digital camera and will go head to head with the similarly-priced Pentax 645Z and more expensive offerings from Hasselblad and PhaseOne. It has a new 51.4-megapixel 43.8mm x 32.9mm sensor (that’s nearly twice as large as a 35mm “full frame” sensor), Fujifilm’s X-Processor Pro imaging processor, 1080p video recording capability, and a detachable electronic viewfinder.

    Fujifilm has announced that the GFX 50S medium-format mirrorless camera will be available for purchase in the US in late February. The GFX 50S is Fujifilm’s first medium-format digital camera and will go head to head with the similarly-priced Pentax 645Z and more expensive offerings from Hasselblad and PhaseOne. It has a new 51.4-megapixel 43.8mm x 32.9mm sensor (that’s nearly twice as large as a 35mm “full frame” sensor), Fujifilm’s X-Processor Pro imaging processor, 1080p video recording capability, and a detachable electronic viewfinder.


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  • 13/26   Fujifilm’s first medium-format mirrorless camera arrives next month

    Fujifilm has announced that the GFX 50S medium-format mirrorless camera will be available for purchase in the US in late February. The GFX 50S is Fujifilm’s first medium-format digital camera and will go head to head with the similarly-priced Pentax 645Z and more expensive offerings from Hasselblad and PhaseOne. It has a new 51.4-megapixel 43.8mm x 32.9mm sensor (that’s nearly twice as large as a 35mm “full frame” sensor), Fujifilm’s X-Processor Pro imaging processor, 1080p video recording capability, and a detachable electronic viewfinder.

    Fujifilm has announced that the GFX 50S medium-format mirrorless camera will be available for purchase in the US in late February. The GFX 50S is Fujifilm’s first medium-format digital camera and will go head to head with the similarly-priced Pentax 645Z and more expensive offerings from Hasselblad and PhaseOne. It has a new 51.4-megapixel 43.8mm x 32.9mm sensor (that’s nearly twice as large as a 35mm “full frame” sensor), Fujifilm’s X-Processor Pro imaging processor, 1080p video recording capability, and a detachable electronic viewfinder.


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  • 14/26   Resident Evil 7 for Xbox One comes with a free PC version

    Microsoft’s Xbox boss Phil Spencer has announced that Resident Evil 7 will support the Xbox Play Anywhere initiative, meaning that owners of the Xbox One version can also play it through the Windows Store for free and vice versa. The Capcom horror game is the first major third-party title to support the program, which so far has mostly applied to big Microsoft-published releases like Gears of War 4 and Forza Horizon 3.This means that people who own a ton of video game hardware might have a tough decision to make when Resident Evil 7 is released next Tuesday. ...

    Microsoft’s Xbox boss Phil Spencer has announced that Resident Evil 7 will support the Xbox Play Anywhere initiative, meaning that owners of the Xbox One version can also play it through the Windows Store for free and vice versa. The Capcom horror game is the first major third-party title to support the program, which so far has mostly applied to big Microsoft-published releases like Gears of War 4 and Forza Horizon 3.This means that people who own a ton of video game hardware might have a tough decision to make when Resident Evil 7 is released next Tuesday. ...


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  • 15/26   Resident Evil 7 for Xbox One comes with a free PC version

    Microsoft’s Xbox boss Phil Spencer has announced that Resident Evil 7 will support the Xbox Play Anywhere initiative, meaning that owners of the Xbox One version can also play it through the Windows Store for free and vice versa. This means that people who own a ton of video game hardware might have a tough decision to make when Resident Evil 7 is released next Tuesday. Free PC compatibility is a strong feature for the Xbox version, but the PlayStation 4 release can be played entirely in PlayStation VR.

    Microsoft’s Xbox boss Phil Spencer has announced that Resident Evil 7 will support the Xbox Play Anywhere initiative, meaning that owners of the Xbox One version can also play it through the Windows Store for free and vice versa. This means that people who own a ton of video game hardware might have a tough decision to make when Resident Evil 7 is released next Tuesday. Free PC compatibility is a strong feature for the Xbox version, but the PlayStation 4 release can be played entirely in PlayStation VR.


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  • 16/26   Nintendo says to launch Super Mario Run Android version in March

    Japan's Nintendo said it will release an Android version of its Super Mario mobile game in March following the launch of Super Mario Run for Apple Inc's iPhone in December. Super Mario Run represents a belated bid by Nintendo to tap mobile gaming after restricting its most popular gaming character to its own game consoles.

    Japan's Nintendo said it will release an Android version of its Super Mario mobile game in March following the launch of Super Mario Run for Apple Inc's iPhone in December. Super Mario Run represents a belated bid by Nintendo to tap mobile gaming after restricting its most popular gaming character to its own game consoles.


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  • 17/26   Super Mario Run will be available on Android in March

    Super Mario Run, Nintendo’s first real foray into mobile gaming, won’t be available on Android until March, the company announced in a tweet. The question now is was it worth it for Nintendo? The company has been fretting about a move to mobile gaming for years, and is set to release two further titles in 2017 (Fire Emblem and Animal Crossing) with more to come in the following years.

    Super Mario Run, Nintendo’s first real foray into mobile gaming, won’t be available on Android until March, the company announced in a tweet. The question now is was it worth it for Nintendo? The company has been fretting about a move to mobile gaming for years, and is set to release two further titles in 2017 (Fire Emblem and Animal Crossing) with more to come in the following years.


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  • 18/26   Palmer Luckey defends the early days of Oculus in VR trade secrets trial

    Palmer Luckey became tech industry royalty at age 21, when he sold his burgeoning virtual reality company Oculus VR to Facebook in 2014 for $2 billion. Luckey took the stand today in Dallas to testify in the trial alleging he helped Oculus steal trade secrets and violate copyrights owned by ZeniMax Media, the parent company of video game developer id Software. At the center of the dispute is John Carmack, a legendary programmer and video game creator behind id Software titles Doom and Quake.

    Palmer Luckey became tech industry royalty at age 21, when he sold his burgeoning virtual reality company Oculus VR to Facebook in 2014 for $2 billion. Luckey took the stand today in Dallas to testify in the trial alleging he helped Oculus steal trade secrets and violate copyrights owned by ZeniMax Media, the parent company of video game developer id Software. At the center of the dispute is John Carmack, a legendary programmer and video game creator behind id Software titles Doom and Quake.


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  • 19/26   Palmer Luckey defends the early days of Oculus in VR trade secrets trial

    Palmer Luckey became tech industry royalty at age 21, when he sold his burgeoning virtual reality company Oculus VR to Facebook in 2014 for $2 billion. Luckey took the stand today in Dallas to testify in the trial alleging he helped Oculus steal trade secrets and violate copyrights owned by ZeniMax Media, the parent company of video game developer id Software. At the center of the dispute is John Carmack, a legendary programmer and video game creator behind id Software titles Doom and Quake.

    Palmer Luckey became tech industry royalty at age 21, when he sold his burgeoning virtual reality company Oculus VR to Facebook in 2014 for $2 billion. Luckey took the stand today in Dallas to testify in the trial alleging he helped Oculus steal trade secrets and violate copyrights owned by ZeniMax Media, the parent company of video game developer id Software. At the center of the dispute is John Carmack, a legendary programmer and video game creator behind id Software titles Doom and Quake.


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  • 20/26   NASA Data Shows 2016 Was Warmest Year on Record Globally

    Temperatures on Earth were the warmest in 2016 since modern record-keeping began in 1880, according to independent analyses by NASA and the National Oceanic and Atmospheric Administration, boosting the argument shared by many climate scientists that our planet is changing in significant ways. The year 2016 was the third consecutive year to set a new record for global average surface temperatures, and far exceeded the temperature mark set in 2015, scientists said today. Gavin Schmidt, director of NASA's Goddard Institute for Space Studies (GISS), said in a statement that the consistent pattern of record-breaking temperatures is indicative of a "warming trend" taking place on Earth.

    Temperatures on Earth were the warmest in 2016 since modern record-keeping began in 1880, according to independent analyses by NASA and the National Oceanic and Atmospheric Administration, boosting the argument shared by many climate scientists that our planet is changing in significant ways. The year 2016 was the third consecutive year to set a new record for global average surface temperatures, and far exceeded the temperature mark set in 2015, scientists said today. Gavin Schmidt, director of NASA's Goddard Institute for Space Studies (GISS), said in a statement that the consistent pattern of record-breaking temperatures is indicative of a "warming trend" taking place on Earth.


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  • 21/26   American Airlines will offer cheaper tickets but carry-on bags won’t be allowed

    American Airlines is launching a new discounted fare class called Basic Economy. It does away with free overhead-bin space for carry-on baggage, you board last, can’t pick your seat, and there are no changes or refunds. Members of American’s AAdvantage frequent flyer program will receive no free first class upgrades and elite status qualification is cut in half, though they will earn frequent flyer miles.

    American Airlines is launching a new discounted fare class called Basic Economy. It does away with free overhead-bin space for carry-on baggage, you board last, can’t pick your seat, and there are no changes or refunds. Members of American’s AAdvantage frequent flyer program will receive no free first class upgrades and elite status qualification is cut in half, though they will earn frequent flyer miles.


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  • 22/26   American Airlines will offer cheaper tickets but carry-on bags won’t be allowed

    American Airlines is launching a new discounted fare class called Basic Economy. Members of American’s AAdvantage frequent flyer program will receive no free first class upgrades and elite status qualification is cut in half, though they will earn frequent flyer miles. Regular checked bags cost as well, just like with standard coach class tickets.

    American Airlines is launching a new discounted fare class called Basic Economy. Members of American’s AAdvantage frequent flyer program will receive no free first class upgrades and elite status qualification is cut in half, though they will earn frequent flyer miles. Regular checked bags cost as well, just like with standard coach class tickets.


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  • 23/26   Netflix adds a third more subscribers than expected; shares jump eight percent

    Streaming video pioneer Netflix Inc added over a third more subscribers than expected in the last quarter of 2016, a sign of success for its ambitious global expansion that sent its shares up 8 percent in extended trading. Netflix signed up 7.1 million new subscribers globally, far more than the 5.2 million analysts had expected, according to research firm FactSet, beating targets at home and abroad even as it raised prices. Original shows like "Marvel's Luke Cage" and British drama "The Crown" performed strongly around the world, Netflix said, noting that competitors were adapting to compete.

    Streaming video pioneer Netflix Inc added over a third more subscribers than expected in the last quarter of 2016, a sign of success for its ambitious global expansion that sent its shares up 8 percent in extended trading. Netflix signed up 7.1 million new subscribers globally, far more than the 5.2 million analysts had expected, according to research firm FactSet, beating targets at home and abroad even as it raised prices. Original shows like "Marvel's Luke Cage" and British drama "The Crown" performed strongly around the world, Netflix said, noting that competitors were adapting to compete.


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  • 24/26   Asian shares down, dollar firms on Yellen's rate hike signal
    TECHNOLOGY TOPIC NEWS

    Asian shares slipped on Thursday and the dollar rebounded after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank is poised to pursue a path of steady interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.3 percent. On Wall Street overnight, stronger financial shares helped push up the S&P 500 , though the Dow Jones Industrial Average edged down.

    Asian shares slipped on Thursday and the dollar rebounded after Federal Reserve Chair Janet Yellen signaled that the U.S. central bank is poised to pursue a path of steady interest rate hikes. MSCI's broadest index of Asia-Pacific shares outside Japan slumped 0.3 percent. On Wall Street overnight, stronger financial shares helped push up the S&P 500 , though the Dow Jones Industrial Average edged down.


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  • 25/26   China says can resolve trade disputes with new U.S. government
    TECHNOLOGY TOPIC NEWS

    China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump. Trump, who is sworn into office on Friday, has criticized China's trade practices and threatened to impose punitive tariffs on Chinese imports. Billionaire investor Wilbur Ross, Trump's choice for commerce secretary, voiced sharp criticism of China's trade practices on Wednesday, telling senators he would seek new ways of combating them.

    China and the United States can resolve any trade disputes through talks, the government said on Thursday, as a Chinese newspaper warned U.S. business could be targets for retaliation in any trade war ushered in by President-elect Donald Trump. Trump, who is sworn into office on Friday, has criticized China's trade practices and threatened to impose punitive tariffs on Chinese imports. Billionaire investor Wilbur Ross, Trump's choice for commerce secretary, voiced sharp criticism of China's trade practices on Wednesday, telling senators he would seek new ways of combating them.


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  • 26/26   Credit Suisse finalizes $5.3 billion mortgage deal with U.S.
    TECHNOLOGY TOPIC NEWS

    By Karen Freifeld NEW YORK (Reuters) - Credit Suisse has formally agreed to pay $5.3 billion to settle with U.S. authorities over claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis. As part of the settlement, announced by the U.S. Department of Justice on Wednesday, the Zurich-based bank acknowledged that home loans it pooled into the securities did not meet underwriting guidelines, with some described by employees as "complete crap" and "[u]tter complete garbage." "The bank concedes that it knew it was peddling investments that were likely to fail," Principal Associate Attorney General Bill Baer said in a statement announcing the deal. Credit Suisse will pay a $2.48 billion cash penalty and provide $2.8 billion in consumer relief, including loan forgiveness and financing for affordable housing, the Justice Department said in the statement.

    By Karen Freifeld NEW YORK (Reuters) - Credit Suisse has formally agreed to pay $5.3 billion to settle with U.S. authorities over claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis. As part of the settlement, announced by the U.S. Department of Justice on Wednesday, the Zurich-based bank acknowledged that home loans it pooled into the securities did not meet underwriting guidelines, with some described by employees as "complete crap" and "[u]tter complete garbage." "The bank concedes that it knew it was peddling investments that were likely to fail," Principal Associate Attorney General Bill Baer said in a statement announcing the deal. Credit Suisse will pay a $2.48 billion cash penalty and provide $2.8 billion in consumer relief, including loan forgiveness and financing for affordable housing, the Justice Department said in the statement.


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