Securities and Exchange Commission Chairman Jay Clayton told a conference that, while he generally prefers index-based investment, he has enjoyed strong returns from actively managed funds. His remarks have been seen as a possible indication that he might be considering imposing stricter requirements on broker advice.
⋅ Fortune
Vending machine company Three Square Market plans to insert microchips into about 50 employees to make snack buying at work more efficient. The employees can purchase snacks without using a credit card or smartphone at any of the workplace's "micromarkets."
⋅ EdSurge
Massive open online courses have the potential to overhaul higher education, but some obstacles are stifling adoption, says Oakland University's Barbara Oakley. In this Q&A, Oakley discusses these challenges, including some faculty who see MOOCs as a threat to their jobs and students who still want in-class instruction with a teacher "who's spoon-feeding the material to them."
Treasury Secretary Steven Mnuchin has told a Senate Appropriations subcommittee that prompt action is needed to raise the debt limit. Debt is being held below a cap of almost $20 trillion by accountancy and cash-management methods, Mnuchin says, but this carries a real cost to taxpayers and creates investor unease.
Colorado-based organic grocer Lucky's Market will open a new store in Oakland Park, Fla., next month, marking the retailer's third store in the South Florida market. The new store will be located in Oakland Park's Downtown Culinary Arts District, which includes the Funky Buddha brewery and restaurants that emphasize fresh, local ingredients, according to a local developer.
The Senate narrowly approved a procedural motion to start floor debate on health care legislation, with Vice President Mike Pence breaking a tie, but hours later the Senate rejected Republicans' most comprehensive plan to unravel and replace portions of the Affordable Care Act -- the Better Care Reconciliation Act plus funding for low-income people who would lose Medicaid coverage and a proposal by Sen. Ted Cruz, R-Texas, to allow insurers that sell ACA-compliant plans to also offer noncompliant plans. Continued debate and additional votes are expected today.
⋅ Adweek
Quilted Northern partnered with Cheap Chic Weddings to support the annual Toilet Paper Wedding Dress competition, featuring designer dresses made entirely from the brand's paper. An accompanying Droga5 spot tells the story of an ambitious roll of toilet paper that becomes a global traveler as part of a beautiful wedding dress.
Manufacturers are frequently perceived as more vulnerable than other industries to cyberattacks because they present multiple points of entry and may be under-prepared to protect themselves. Improving resistance to cyberattacks should begin with a multilayered "defense-in-depth" strategy along with the purchase of cyberinsurance.
⋅ Robohub
Assistant Professor Sergey Levine of the University of California at Berkeley is working on new ways to enable robots to adjust to the unpredictability of the real world. "Deep learning," as Levine calls it, uses optimization algorithms to allow the robot to adapt its actions to unexpected circumstances and learn from that experience to accomplish future tasks.
⋅ Reuters
The FDA has granted approval to Zydus' Mesalamine Delayed-Release tablets in 800 mg, which will be produced at the company's manufacturing facility at Moraiya.
⋅ The Wall Street Journal (tiered subscription model)⋅The New York Times (free-article access for SmartBrief readers)
Viacom CEO Bob Bakish on Tuesday reportedly met with executives from Scripps Networks Interactive to discuss a possible acquisition. The company offered an all-cash deal to purchase Scripps, which is also being sought by Discovery Communications, which is not expected to offer an all-cash deal, sources say.
⋅ Reuters
A Buddhist pagoda has been washed away and 100,000 people turned out of their homes due to erosion and flooding along rivers during a heavy monsoon in Myanmar. The steady rains that began early this month have also cost two lives and collapsed a small dam.
A New York couple used an online fundraiser and flyers to entice Long Island residents into letting them create small farms out of the homeowners' lawns. The result is Lawn Island Farms, owned and run by Jim Adams and his wife, Rosette, who cultivate and sell fresh produce locally, provide the landowners with some of the bounty and have inspired "foodscaping."
Hawaiian Airlines announced plans to add service in 2018 from Portland, Ore., to Maui; from Oakland, Calif., to Kaua'i, and from Los Angeles to Kona. The routes will feature the airline's new single-aisle Airbus A321neo aircraft.
AccorHotels is using acquisitions to solidify its position in the home-sharing market, merging Squarebreak and Travel Keys under its Onefinestay company. The combined companies will have about 10,000 rental properties.