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The 15 Countries With The Highest Quality Of Life

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girl hood happyFor a good chance at a happy life, head to Australia, which one again topped the Organization for Economic Cooperation and Development's Better Life Index, which looks at the quality of life in member countries.

The (OECD) — an international economic organization — analyzed 34 countries in 11 categories, including income, housing, jobs, community, education, environment, civic engagement, health, life satisfaction, safety, and work-life balance. (You can read the full methodology here.)

We looked at the countries with the highest overall scores, and highlighted a few of the criteria on the following slides.

#15 Ireland

Average household disposable income: $24,104

The Irish have a strong sense of community — 96% of people believe they know someone they could rely on in a time of need (higher than the OECD average of 90%).

They also rate highly in work-life balance, where the average employee works 1,543 hours a year, less than the OECD average of 1,776.

Researchers compared data from 34 countries that are members of the Organization for Economic Cooperation and Development. They based the rankings on 11 factors including income, safety, life satisfaction, and health, and then rated each country on a 10-point scale. Income is net-adjusted and in USD.



#14 Luxembourg

Average household disposable income: $23,047

Luxembourg rates well in both health and environment, with an average life expectancy of 81 years and a low level of atmospheric PM10 — tiny air pollutant particles small enough to enter and cause damage to the lungs.

Citizens also have a high participation rate in the political process, with 91% of the population turning out for recent elections.

Researchers compared data from 34 countries that are members of the Organization for Economic Cooperation and Development. They based the rankings on 11 factors including income, safety, life satisfaction, and health, and then rated each country on a 10-point scaleIncome is net-adjusted and in USD.



#13 Austria

Average household disposable income: $28,852

Austria has a high rate for education. 82% of Austrian adults ages 25-64 have earned the equivalent of a high school degree.

Austrians also have a strong sense of community, with 94% of the population reporting they know someone they could rely on in a time of need.

Researchers compared data from 34 countries that are members of the Organization for Economic Cooperation and Development. They based the rankings on 11 factors including income, safety, life satisfaction, and health, and then rated each country on a 10-point scaleIncome is net-adjusted and in USD.



See the rest of the story at Business Insider

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These Skyscrapers Predicted History's Worst Financial Crises

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Burj Khalifa Dubai

In China, construction on Sky City, which is expected to be the world's tallest building, will begin in June.

It is expected to rise to 838 meters.

Barclays' Skyscraper Index suggests that construction booms, especially those highlighted by record-breaking skyscrapers, coincide with the beginning of economic  downturns. The index even suggests that the rate of increase in height could also reflect the extent of that economic crisis. 

Drawing on Barclays' Skyscraper Index, we pulled 11 skyscrapers whose constructions coincided with the financial crises of their times.

Equitable Life Building (1873)

The Long Depression, 1873 - 1878

The pervasive U.S. economic recession with bank failures that came to be known as the Long Depression coincided with the construction of the Equitable Life Building in New York in 1873. At the time the building was the first skyscraper at a height of 142 feet.

Source: Barclays



Auditorium (1889) and New York World (1890)

British Banking Crisis, 1890

Chicago's 269-foot tall Auditorium building completed in 1889, and the 309-foot tall New York World building completed in 1890, coincided with the British banking crisis of 1890, and a world recession.

Source: Barclays



Masonic Temple, Manhattan Life Building and Milwaukee City Hall (1893)

U.S. panic marked by the collapse of railroad overbuilding, 1893

Chicago's 302-foot tall Masonic Temple, and the 348-foot tall Manhattan Life Building, and the 353-foot tall Milwaukee City Hall coincided with the U.S. panic of 1893 marked by the collapse of railroad overbuilding. It also coincided with a string of bank failures and a run on gold.

Source: Barclays



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The Stunning Fall Of Generation X [CHARTS]

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man cringing in pain cringe grief sad miserable

For the most part, generations in America have followed a similar storyline: kids grow up to earn more and become more financially secure than their parents and grandparents before them. 

But that story ended with those born between 1965 and 1981, known as Generation X

In just about every regard, Gen X has fallen behind financially. Even before the recession, they were earning less and saving less for retirement than previous generations did at their age while taking on unprecedented debt. They were hit hardest by the recession, losing half of their wealth from 2007 to 2010.

Where do they go from here? 

Assuming the U.S. isn't on track for another recession anytime soon, as long as Gen X finds a way to crack down on spending, get ahold of their debt and find ways to further their careers, they can bounce back. At the very least, Gen X has one thing on their side that older generations would kill for –– time.

Using charts from recent studies on generational wealth gaps by the Pew Research Center and the Urban Institute, we've put together a clearer picture of what's gone wrong for Gen X.

While Generation Xers got a lot richer over the past two decades, this was primarily due to them entering the workforce. Older generations saw larger real gains.



Young generations have stopped getting richer over time.



37-year-old Americans today are actually much poorer than 37-year-olds in 1983.



See the rest of the story at Business Insider

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Here's How To Use NYC's New Citi Bike Share Program

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man riding citi bike nyc

Bike share finally opened for business in New York City on Monday, and so far it's been quite well-received.

Despite a few early glitches (and one stolen bike), Citi Bike members had taken more than 6,000 trips and covered nearly 14,000 miles before the end of the afternoon.

The program will change the look of the city, and it will also change a lot of people's lives. Many people — cyclists and others — will benefit. Others — including drivers — will lose out. 

Mayor Michael Bloomberg notes that Citi Bike is New York's first new public transit option in 75 years, and if it expands enough of the next few years, it could one day make the Big Apple the first American metropolis to count among the world's most bike-friendly cities.

For everyone who wants to give it a shot but has not tried out a similar system in any of the more than 500 cities that already have one in place, here's a rundown of how to sign up, get a bike, and hit the city on two wheels.

For the first week, Citi Bike is only open to members with year-long subscriptions, for $95. You can sign up online, as long as you have a credit or debit card.



Starting June 2, those who do not want to commit for the long-term can sign up for one day ($9.95) or a week ($25).



Annual members get a Citi Bike key fob. Short-term members can unlock bikes by entering a 5-digit number on a keypad.



See the rest of the story at Business Insider

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The Hottest Inhabited Place On Earth Will Dazzle You With Its Bright Yellow-Green Colors

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Sulphur and mineral salt formations are seen near Dallol in the Danakil Depression, northern Ethiopia April 22, 2013.The Danakil Depression, located in Ethiopia's Danakil Desert, has been called the hottest inhabited place on the planet and dubbed "The Cruelest Place on Earth" by National Geographic.  

The basin is home to the Afar people who withstand year-round averages temperatures of about 95 degrees Fahrenheit, although temperatures can reach as a high as 145 degrees

The depression is about 328 feet below sea level, and features a lot of red rock, sulfur fields, and salt deposits. 

Geologists believe that the salt was deposited gradually over time, as the nearby Red Sea periodically flooded into the region. The extreme heat in the desert vaporized the floodwaters, leaving only the salt behind.

In the Danakil, salt means money. The entire local economy depends on mining and trading the mineral. 

Miners use traditional methods — camel caravans, pickaxes, and rope — to cut, pack, and ferry the salt out of the harsh basin.

It can be dangerous work, though. The heat can kill unprepared workers, and the occasional earthquake can split the ground and swallow camels.  

The Danakil Depression is one of the lowest points on Earth that is not covered in water. Geologists believe that in 10 million years, this searing desert will once again be submerged under water.



The brilliant green and gold colors are the result of sulfur deposits that come from underground hot springs. It looks pretty, but smells like rotten eggs.



It's a four-day trek to the Danakil Basin, during which salt miners camp in the desert with their camels.



See the rest of the story at Business Insider

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Facebook Will Block Photos Celebrating Rape Following Ad Boycott

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American Express Audible Facebook Rape

Facebook is in the midst of a PR crisis as brands including Nationwide and Nissan's UK divisions pull advertising over its policy towards photos glorifying rape and domestic violence.

See the banned images here (warning: they are disturbing) >

Following a petition launched by Women, Action, & the Media (WAM), the Everyday Sexism Project, and writer Soraya Chemaly, 15 advertisers took the open letter's advice to pull advertising until Facebook takes action against "gender-based hate speech" on the social network seriously.

Thousands of tweets later, Facebook changed its policy.

The pictures often feature meme-like phrases attempting humor such as: "Don't wrap it and tap it, Tape her and rape her."

WAM's website reads:

Facebook has long allowed content endorsing violence against women. They claim that these pages fall under the “humor” part of their guidelines, or are expressions of “free speech.” But Facebook has proven willing to crack down on other forms of hate speech, including anti-Semitic, Islamophobic and homophobic speech, without claiming such exemptions.

More than 50,00 tweets were sent out using the movements adopted hashtag #FBRape just this month, many of which are aimed at advertisers' handles.

Dove, which prides itself in promoting healthy female body images and even created a tool that lets women change Facebook ads about love handles to self-esteem boosting messages, has received a lot of backlash for not pulling its ads on the brand's own Facebook page. Dove recently tweeted that it is now "aggressively working with Facebook to resolve the issue."

Other advertisers were more dismissive of the claims. Procter & Gamble said, "We can’t control what content they [our advertising] pops up next to. Obviously it’s a shame that our ad happened to pop up next to it."

When ThinkProgress contacted Facebook about images for groups like "Fly Kicking Sluts in the Uterus" and "Violently Raping Your Friend Just for Laughs," a spokesperson said: 

As you may expect in any diverse community of more than a billion people, we occasionally see people post distasteful or disturbing content, or make crude attempts at humor... While it may be vulgar and offensive, distasteful content on its own does not violate our policies. We do require that any such page be clearly marked — so users are aware that the content may be in poor taste.

Facebook has since responded to the #FBRape campaign on its newsroom site. It removed all the offensive images activists have pointed to on Twitter, but "Over a billion people use Facebook and add millions of updates and photos every day to our service." Facebook encouraged users to keep on flagging offensive photos.

We collected some of the images that triggered the campaign. Warning: some of them are graphic and disturbing.

Ads from major advertisers like Dove and Amazon were randomly placed next to images encouraging violence against women.



Here's an ad for Sky (lower right corner).



Hugo Boss, Magnum ice cream and Iams appeared next to this.



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RARE PLANETARY ALIGNMENT: Check Out Photos Showing Venus, Jupiter, And Mercury

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Triple planetary conjunction of Venus, Jupiter and Mercury

For the past couple of days, Venus, Jupiter, and Mercury have been putting on a rare show in the western sky.

The three planets are in the middle of what is known as a planetary conjunction, when they appear unusually close together. The three planets won't do this again until 2021. 

The event peaked for viewers in the western hemisphere on Sunday, May 26. But the three planets will still be quite noticeable for the next week or so, even as they move away from each other. 

We've collected several photos of the planetary conjunction taken from various locations around the world. 

Skywatcher John Lybrand has a clear view of the bright planets from Las Vegas.

Las Vegas-based Flickr user John Lybrand told us how he found a good spot to take this photo: 

"I knew the conjunction was going to be in the west, and I can see the Stratosphere to my west, so I just needed to find a place to shoot from. I scouted around the area, and found a vacant lot next to a road that had a good view.

When I went there on the 24th, I was just planning on taking some test shots in preparation for the 26th, which was supposed to be the closest conjunction. I wanted to practice with the location and camera settings so I could get it right later. 

As it turned out, the picture from that night was the best of the weekend. I think that the configuration of the planets that night just had a more interesting look."

Triple conjunction of Jupiter, Venus and Mercury



Dave Walker was fortunate to get a cloudless view of the sky from England.

Flickr user Dave Walker took this photo from the town of Billinge in northwestern England. Here's his explanation of the shot: 

"I went up to Billinge Lump, as it is the only elevated vantage point near where I live with clear views in all directions, so I could capture both this event in the West and the full moon rising in the East. I was very lucky, as it has been cloudy almost every day beforehand and since!

Yes, it was cold, but that's Spring in the UK for you."

Triple planetary conjunction of Venus, Jupiter and Mercury



Garner Haines of Ontario took this shot as he was loading groceries into his car.

Flickr user Garner Haines told us he first heard about the planetary conjunction from astrophysicist Neil DeGrasse Tyson's Twitter feed.

Here's what Haines told us about his shot, taken from Stratford, Ontario: 

"I had just finished grocery shopping at the Soby's nearby and could see Jupiter and Venus over the roof of the building as I loaded by groceries into my car. I realized they were visible with the naked eye and that I might be able to catch the alignment on "film".

I drove just a little bit down the road (the supermarket was right at the edge of town anyway) and pulled over. I didn't have my tripod with me so I steadied the camera on the roof of the car, and then experimented with shutter and aperture settings until I got the shot I wanted."

Jupiter Venus Mercury conjunction



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Europe Has Better Sunscreen Products Than America

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Tori spelling beach mothers day

Want to protect yourself from the sun?

You may want to consider taking a trip to Europe, where you can buy sunscreens with active ingredients that adhere to strict European Union standards, but are still not approved for sale in the U.S.

According to Sumathi Reddy in The Wall Street Journal, there are currently eight sunscreen ingredient applications pending before the U.S. Food and Drug Administration. 

Some have been on file for up to a decade, and almost all of the ingredients are readily available in brands sold outside the U.S. Most are also considered "highly effective" by the strict European standards for sunscreen, the WSJ reports.

Most American sunscreens protect from UVA rays using benzophenones, which largely work by absorbing the sun's rays but have a variety of shortcomings including allergic reactions and negative affects on hormone levels.

Some types of benzophenones even break down in sunlight and reduce the potency of UVB filter ingredients.

Of the eight pending ingredient applications, doctors say ecamsule, Tinosorb S, and Tinosorb M are the most effective with long-range UVA protection, according to the WSJ.

SEE ALSO: You Can't Get Closer To The Belly Of A Flying Plane Than At Maho Beach

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Here's Everything That's Changed Since Apple Announced The iPad Mini — 230 Days Ago (AAPL)

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tim cook ipad mini

Apple is going to take the stage on June 10 at its Worldwide Developers Conference to announce a new version of iOS, the operating system that powers the iPhone and iPad.

This will be the first time we see an Apple event focused entirely on products since October. That's 230 days between product events, the longest gap in Apple's recent history.

The tech industry moves very quickly, and nothing proves that more than taking a look at how much has changed since Apple's last big product announcement.

On October 23, 2012, Apple revealed the iPad Mini. The stock was trading at ~$613.



Today, the stock is at ~$444, and it's been trapped between $390 and $460 since February.



Why did the stock tank? Because the world realized that Apple's growth is slowing. And people started cutting their EPS estimates.



See the rest of the story at Business Insider

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14 Startups That Will Change The Way You Eat

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woman girl mouth eat cheeto

There's a growing number of startups focusing on the food market. 

That's likely because, as VC Dave McClure says, the market opportunity for food technology is huge.

Last year, investors poured in roughly $350 million into food startups, according to CB Insights.

Last month, Food Hackathon hosted its inaugural event in San Francisco with the goal of teaming up entrepreneurs, developers, and designers to create products geared toward the food ecosystem. 

And just last week, Seamless and GrubHub announced a merger, bringing even more attention to food startups. 

HealthyOut helps people find meals at local restaurants that match your diet.

Startup: HealthyOut

Founded: 2012

Location: New York, N.Y.

Founders: Jonathan Hironaga, Wendy Nguyen, Dan Myers

Concept: HealthyOut helps you find dishes at local restaurants that match your diet criteria. Once you select your diet restrictions, HealthyOut plans out your weekly meals (lunch and dinner) for you and delivers them right to your door. HealthyOut is currently available in New York, lower Manhattan to be exact.

Funding: $1.2 million from 500 Startups, Bradley Harrison Ventures, Peter Horan, Jan Brandt, Dave Kassling, Josh Knowles, and others. 



UNREAL takes the junk out of candies and eventually snacks.

Startup: UNREAL

Founded: 2012

Location: Boston, Mass.

Founders: Nicky Bronner, Michael Bronner, Adam Melonas

Concept: UNREAL offers a line of candies that are just as delicious as their mainstream counterparts, but without all the junk. 

UNREAL doesn't use any corn syrup, partially hydrogenated oils, artificial ingredients, genetically modified organisms, or preservatives. Instead, it uses all natural ingredients and is made with 40% less sugar than candies from major brands. 

Funding: Undisclosed amount from Khosla Ventures and Raptor Consumer Partners.



ZeroCater is aiming to make office-wide lunches easier.

Startup: ZeroCater

Founded: 2009

Location: San Francisco, Calif.

Founder: Arram Sabeti

Concept: ZeroCater aims to prevent Sad Desk Lunch by helping companies coordinate family-style catering for their employees. It turns out that half of all adults who eat at work (47%) do so at their desks, which carry 400 times more bacteria than a toilet seat, according to a study last December.

ZeroCarer only works with the best local restaurants and accommodates any dietary restrictions. ZeroCater is currently available in the San Francisco Bay Area and New York City.

Funding: $1.5 million from Keith Rabois, Paul Buchheit, Yuri Milner, SV Angel, Start Fund, Stewart Alsop, Justin Kan, Emmett Shear, and others. 



See the rest of the story at Business Insider

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Mary Meeker's Latest Masterful Presentation On The State Of The Web

ATTENTION, AMERICA: Here's A Powerful Presentation On Our Desperate Need For Immigration Reform

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Former analyst and current Kleiner Perkins partner Mary Meeker is best known for her presentations on the state of the Web.

But over the past couple years, she has expanded her interests beyond tech companies to look at more macro issues.

Today, at the D Conference, Meeker gave a presentation on a hot button issue in the tech industry: immigration.

Called "Immigration In America & The Growing Shortage Of High-Skilled Workers," it first demonstrates how America's economy became mighty thanks to immigrant workers. Then it explains how everything will soon fall apart if we don't  reform our national intake system soon.







See the rest of the story at Business Insider

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Get Lost Inside The Medina In Tangier, Morocco

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Woman selling pottery in the Medina in Tangier Morocco

Located in northern Morocco, Tangier is easily the country's most diverse and international city. Locals speak a combination of Arabic, Spanish, French and Portuguese, while international newspapers and advertisements cater to the diverse crowd.

Despite the assimilation, the city remains vibrantly Middle Eastern. The smell of spices, sweet tea, and cigarette smoke mingles in the air with street vendors hustling at every turn.

The Medina—the old walled city within Tangier—encompasses the city's vibrant spirit. Dating back to the 14th century, this walled area is overflowing with meat and produce stalls and vendors selling everything from spices and flowers to rugs, textiles, silks and more.

Click here to go straight to photos of the Medina >

It’s this area of the Kasbah where Morocco comes alive. The noise of negotiation and conversation is drowned out only by motor bikes making deliveries down the narrow, steep and winding streets.

Two days per week, farmers from the outskirts of Tangier proper travel to the Medina with their harvests. These peasants stick together in groups around the Medina’s major intersections, laying out produce on tarps and waiting quietly for six or eight hours to sell out the haul before returning home.

As dark approaches, storefronts shutter, the peasants vanish, and people return to modern houses built on the hills of the city far outside the 700-year-old walls.

The entrance to the Medina is marked by a grand old arch.



Inside the Medina's ancient walls, farmers and peasants lay out their wares—fresh vegetables, fruits, spices, flowers—on tarps.



And they wait patiently for customers.



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15 Startling Photos Of Pigs In China

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china pig pen shanghai

Chinese company Shuanghui International Holdings Limited will acquire Smithfield Foods, the world's largest pork producer.

Remember, China is the world's largest pork consumer so this deal makes a lot of strategic sense.

Moreover, the recent decline in Chinese pork prices is seeing the industry consolidate and smaller farmers

We pulled together these images to put together a tour of China's pork industry.

China is the world's largest pork consumer and is expected to have consumed 52 million tons in 2012.



Half of the world's pigs, about 476 million are said to reside in China.



China become a net importer of pork in 2008.



See the rest of the story at Business Insider

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Send Your Kid To One Of These Crazy Expensive Summer Camps

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summer camp kidsSleepaway camp is a great summer activity, if you can afford it. 

Groups like YMCA and Girl Scouts offer inexpensive camping options. But on the other end of the spectrum are private, eight-week camps that offer top-notch food, living accommodations, and activities from waterskiing to horseback riding.

Many are located in the mountains of the northeast, and cost more than $1,000 every week. To put it in perspective: The cost of these camps is equivalent to a semester at a state college.

Know of an even more expensive summer camp? Let us know about it in the comments.

Camp Winaukee in Moultonboro, NH costs $10,550 for the summer.

Camp Winaukee, an all-boys camp that sits on Lake Winnipesaukee in New Hampshire, prides itself in being one of the premier sports and adventure camps in the country.

For $10,550, you can send your rugrats away for seven weeks.

There are about 200 campers between the ages of 7-12, and a 150 campers between the ages of 13-15.

Activities at camp include: sports, canoeing, kayaking, outdoor adventure, ropes, arts & crafts, and theater.



Lake Bryn Mawr Camp in Honesdale, Penn. costs $10,700 for the summer.

Lake Bryn Mawr Camp is an all-girls camp that offers an eight week program for $10,700.

The typical day starts at 7:30 a.m. and goes until 9:15 p.m.

Some of the special events at camp include: Miss Firecracker Contest, Olympics, Top-Secret Chocolate Banana Night, special surprise snacks, and the culminating event of the summer: the weeklong Color War.



Camp Mataponi in Naples, ME costs $10,750 for the summer.

Camp Mataponi for Girls takes campers ages 7-15 years old.

For lunch, there's a 30-item salad bar. And there are weekly BBQs with themes such as Under the Sea, Funky Princess Super Hero, and Western night.

The camp costs $10,750 for the summer.



See the rest of the story at Business Insider

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What Mary Meeker Says About The State Of Advertising On The Web

Inside The Macau Casino VIP Room Where The Minimum Bet Is $1.6 Million

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China's Sky 32 is one of the most elite casino lounges on the planet.

Perched on the 32nd floor of the Galaxy Macau casino and resort, the VIP mecca has gorgeous views, diamond chandeliers, and six opulent rooms where high rollers must commit to betting at least 10 million yuan — that's $1.6 million — per visit, according to Bloomberg.

The Macau casino finally opened in 2011 after nine years in development ,with the hope that its luxurious amenities, 600 gaming tables, and 250 suites would attract China's wealthiest patrons.

And despite worries that there would be a government crackdown on Macau gambling, Bloomberg reports the luxury VIP betting business has fared well.

In fact, the Galaxy Macau Casino raked in $38 billion in revenue last year, more than six times that of the Las Vegas Strip.

The Galaxy Macau is a mega-casino resort in the Cotai strip that cost nearly US$2 billion to build.

Galaxy Casino in Macau

In March of 2013 alone, it raked in $3.9 billion, according to Bloomberg.

Galaxy Casino lobby in Macau

Its VIP lounge is on the 32nd floor. This is the elaborate lobby that greets Macau's high rollers.

attached image

Everything about Sky 32 is opulent, even the areas where guests aren't betting. Take for instance this bar and restaurant.

Galaxy Casino Sky 32 VIP lounge in Macau

To play in this VIP setting, patrons need to be willing to bet a minimum of $1.6 million per visit.

Galaxy Casino Sky 32 VIP lounge in Macau

There are six rooms that span the floor, including this intimate gambling area.

Galaxy Casino Sky 32 VIP lounge in Macau

And don't forget to enjoy the view — both inside and out.

Galaxy Casino Sky 32 VIP lounge in Macau

SEE ALSO: These Casinos In Macau Make Las Vegas Look Like A Dump

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10 Ways Jailbreaking Your iPhone Will Make Life Better (AAPL)

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iphone getty

While the iPhone is considered by many to be the closest thing to the "perfect" phone, the software running the device is beginning to show its age. 

That's why a lot of people enjoy jailbreaking their iPhones, which lets you customize the software with apps and other features that Apple wouldn't normally allow. 

Jailbreaking is pretty easy, and you can use this simple tool to do it. (Fair warning: jailbreak at your own risk as it can cause some problems and voids your iPhone's warranty.)

Here are a few of our favorite jailbreak features. You can download most of them from Cydia, an alternative app store that appears on your phone after you jailbreak.

You can unlock your iPhone with a gesture.

Like having a secure iPhone but hate having to put a code in each time you unlock your device? Stride is an app for jailbroken iPhones that lets you unlock a device with any gesture you'd like. It's convenient and secure. 



Multitask with gestures, not the home button.

iOS lets you open your recently used apps by double-clicking the home button. That takes you away from the screen and puts extra wear on the most-used button on the device.

To make things faster, jailbroken users can install Zephyr, which lets you switch between apps by swiping up from the bottom of the screen.



Get rid of Newsstand.

For some users, Newsstand is a convenient way to get news and magazines on their iOS devices.

For most of us though, it's an eyesore that can't be hidden in a folder or deleted from the home screen.

Users of jailbroken iPhones, however, have the option to install NoNewsIsGoodNews, which gets rid of Apple's pesky app.



See the rest of the story at Business Insider

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7 Fascinating Psychology Concepts That You'll Find On Wall Street's Hardest Exam

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brain scan mri

Thousands of ambitious financial analysts around the world will sit for one of the three the Chartered Financial Analyst (CFA) exams this weekend.

The very few candidates who are taking the level III exam will be tested on a fun topic: behavioral finance.

"Investors are 'normal,' not rational," says Meir Statman, one of the leading thinkers in behavioral finance.

Behavioral finance reconciles the discrepancy between rational valuation and irrational market pricing. It's a booming field of study.  Top behavioral finance gurus include Yale's Robert Shiller and GMO's James Montier.

We compiled a list of the seven common behavioral biases that drive investor decisions.  Read through them, and you'll quickly realize why you make such terrible financial decisions.

NOTE: These definitions are derived from Hersh Shefrin's Beyond Greed And Fear, which was required reading in the CFA Institute's Level III curriculum in 2009.

Investors believe they are awesome at investing.

Overconfidence may be the most obvious behavioral finance concept.  This is when you place too much confidence in your ability to predict the outcomes of your investment decisions.

Overconfident investors are often underdiversified and thus more susceptible to volatility.



Investors are bad at processing new information.

Anchoring is related to overconfidence.  For example, you make your initial investment decision based on the information available to you at the time.  Later, you get news that materially affects any forecasts you initially made.  But rather than conduct new analysis, you just revise your old analysis.

Because you are anchored, your revised analysis won't fully reflect the new information.



Investors connect the wrong things to each other.

A company might announce a string of great quarterly earnings.  As a result, you assume the next earnings announcement will probably be great too. This error falls under a broad  behavioral finance concept called representativeness: you incorrectly think one thing means something else.

Another example of representativeness is assuming a good company is a good stock.



See the rest of the story at Business Insider

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Storm Chasers Built This Crazy SUV To Drive Through Tornadoes [PICTURES]

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storm chasers dominator 2 tornado vehicle

Reed Timmer and Sean Casey became two of the world's best-known tornado experts by seeking out and studying the deadly storms in the Discovery Channel show "Storm Chasers" (2007-2012).

Their adventures would not have been be possible without the right equipment — especially the right vehicles.

In a Discovery Channel video, "Storm Chasers" host Timmer gives a tour of the Dominator 2, one of their best rides.

He explains all the features — from steel plating to air cannons to extra windshield wipers — that make it the perfect ride for driving into the heart of a tornado and coming out with everyone alive.

The Dominator 2 is a heavily modified GMC Yukon XL.

[Source: TornadoVideos.net]



It's made to withstand two key risks tornadoes pose to vehicles: flipping over and flying debris.



Surrounded by 16 gauge (that's about .06 inches thick) steel plating, it weighs in at about 8,000 pounds.



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