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Re/code Daily - The Fed Hikes Interest Rates for First Time Since '06. Here's What It Means. - Dec 17, 2015
Re/code Daily - The Fed Hikes Interest Rates for First Time Since '06. Here's What It Means. - Dec 17, 2015
Read Now
•
The Federal Reserve officially said it's going to raise interest rates for the first time in almost a decade, a measure that chairwoman Janet Yellen says gives the central bank more flexibility to handle an economic downturn or increased inflation. The New Yorker's John Cassidy says that this reflects
Yellen's upbeat attitude
about the American economy. The Washington Post's Matt O'Brien points out that every country that has recently raised interest rates has been
forced to lower them again
. Wired
makes the bear case
for why slightly tighter credit will slow Silicon Valley's roll.
[
Binyamin Applebaum | The New York Times
]
•
Facebook and Uber are partnering to let Messenger users order rides straight from the app, plans that
Re/code
first reported on
last year. It's not clear what the terms of the deal are, though Facebook has been adding a lot of
similar third-party integrations all year
.
[
Kurt Wagner | Re/code
]
•
Federal judges ruled yesterday that Pandora will have to pay 17 cents per 100 plays of a song, which is three cents more than what it currently pays, but substantially less than what the music labels want it to pay. Pandora's stock, which has stayed low in part because of uncertainty about royalties, shot up about 20 percent on news of the decision.
[
Peter Kafka | Re/code
]
•
Google is reportedly planning to launch a fleet of self-driving cars for hire next year, which sets it on a collision course with a company it has long claimed it's not competing with (and has
actually invested in
): Uber.
[
Mark Bergen | Re/code
]
•
FBI Director James Comey poured cold water on earlier New York Times, AP and NBC reports that San Bernardino attacker Tashfeen Malik publicly pledged allegiance to ISIS on Facebook prior to the shooting. Comey also continued to whine very loudly about tech companies' comms encryption, even though it hasn't been tied to either the Paris or San Bernardino attacks.
[
Noah Kulwin and Kurt Wagner | Re/code
]
•
Katie Nolan is the host of "Garbage Time" a biting and funny sports comedy show on Fox Sports. On this week's
"Re/code Decode"
podcast interview hosted by Peter Kafka, Nolan talks about her sudden, Internet-fueled ascent to stardom, how she deals with online abuse and why she transcribes John Oliver every week.
[
Eric Johnson | Re/code
]
Top Stories from Re/code
Policy
Donald Trump Tells Jimmy Kimmel Some of the Other GOP Candidates Should Drop Out Already
By Dawn Chmielewski
Trump says he'll build a "big, beautiful door" for immigrants to pass through -- presumably after he builds the wall.
Social
Twitter’s Head of Video, Baljeet Singh, Is Leaving the Company
By Kurt Wagner
Another key Twitter departure.
Media
BBC Uses Artificial Intelligence to Track Down New Audiences for ‘Sherlock’
By Dawn Chmielewski
Parrot Analytics provides a new way to measure TV audiences, even when they're not watching TV.
Commerce
One Kings Lane’s Chief Product and Merchandising Officers Depart in Shakeup
By Jason Del Rey
The departures coincide with the company laying off 25 percent of employees, its second big cut in 18 months.
Enterprise
Oracle Q2 Results Beat Street; Ellison Says Cloud Business on Track
By Arik Hesseldahl
Founder and CTO Larry Ellison says plans for $1.5 billion in new cloud business are still on track for the fiscal year.
Mobile
Mossberg: Battery Tech Isn't Keeping Up
By Walt Mossberg
It's the top feature our digital devices need, but won't get anytime soon.
This Is Cool
This Guy Built a Self-Driving Car in His Garage
George Holtz, the first guy to hack an iPhone and one of the earliest hackers of the PS4, has built a self-driving car in his garage. Bloomberg Businessweek's Ashlee Vance writes about his solo, equally wacky and brilliant project to sell cheap self-driving car upgrades. The accompanying video is particularly fun.
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