WASHINGTON, April 9— Since Senator John H. Chafee seldom votes with Senate conservatives. his colleagues were surprised when the Rhode Island Republican became the chief author of of a bill strongly supported by conservatives. That measure, which would make it a crime to identify undercover intelligence agents, has stirred up one of the most thought-provoking debates of the current legislative session.

The legislation has been passed by both chambers of Congress, and after differences are ironed out in conference, Presidential approval is virtually certain. But opponents of the bill think it is an unconstitutional invasion of freedom of the press, and they will move immediately to test it in court.

''It is an outrage,'' asserted Anthony Day, editor of the editorial pages of The Los Angeles Times. ''I do not think the Constitution permits punishment for publication of that sort of information.''

In Mr. Chafee's view, he is balancing the value of a free press against the need for effective intelligence, and he does not believe that any First Amendment rights are absolute. ''They say my bill will inhibit the press, and that's true,'' the 59-year-old lawmaker said in a recent interview. ''But the press accepts inhibitions in wartime. No one argues with that. No one says the press has a right to reveal the sailing of a troop ship, for instance. I don't want to equate this situation with war, but intelligence is a dangerous business.'' An Essential Business

It is also, in Mr. Chafee's view, an essential business. ''I'm appreciative of intelligence activity,'' said the Senator, the second-ranking Republican on the Intelligence Committee. ''I want them to be good. They're a very important part of our overall national defense.''

Defending the Central Intelligence Agency has not been a popular thing to do in recent years, and Mr. Chafee concedes that the agency has been known as a ''rogue elephant,'' out of control and trampling on the rights of citizens. But he thinks that the success of his bill reflects a growing recognition that ''intelligence is a very valuable tool in peacetime.''

The key fight in the agents' identity bill has centered on the definition of the crime. Liberals argue that publishing names should only be barred if a person intended to harm the interests of the United States. Mr. Chafee's amendment, which was passed by a vote of 57 to 37, states that the act is criminal if the publisher has ''reason to believe'' that harm would result.

Critics contend this standard is ''extraordinarily broad and vague,'' in the words of Mr. Day, former chairman of the Committee on Freedom of Information for the American Society of Newspaper Editors. As a result, they fear it will have a ''chilling effect'' on the efforts of legitimate journalists to cover intelligence activities. Rights of the Press

Mr. Day acknowledges that public sentiment probably favors the bill, but unlike Senator Chafee, he feels that the rights of the press are almost absolute. ''This is messy,'' Mr. Day observed, ''the worst possible case for us to make in the public mind. But it absolutely has to be made.''

Senator Joseph R. Biden Jr. of Delaware, ranking Democrat on the Intelligence Committee, believes the bill reflects a resurgence of Cold War attitudes. ''I really do think,'' he said, ''that there is a whole attitude out there that says, 'In order to compete with the Soviet Union and protect our interests, we have to write off civil liberties.' ''

Senator Patrick J. Leahy of Vermont, another Democrat on the Intelligence Committee, adds: ''This Administration seems to start from the premise, 'How much can we hide?' I start from the premise, 'How can we protect the First Amendment?' ''

Like many of his colleagues, Senator Leahy is a bit puzzled that Senator Chafee, who normally lines up with Senate liberals, pushed his bill so hard. ''He got sold a bill of goods by the Administration,'' Senator Leahy said of Senator Chafee.

But that comment ignores the character and the experience of Rhode Island's junior Senator. In 1942, Mr. Chafee left Yale without his degree, joined the Marines, and landed with the first invasion forces on Guadalcanal. The lesson he reads from World War II is that victory was ''aided immeasurably'' by good intelligence.

He received his undergraduate degree in 1947, at a time when Government service was considered a noble career by many young veterans. He kept his interest up through law school, the state legislature and the Rhode Island governorship, and after his defeat for re-election in 1968, President Nixon appointed him Secretary of the Navy. One of his aides in that job was Stansfield Turner, later head of the C.I.A. under President Carter and a strong influence on the Senator. When the Issue First Arose

After coming to the Senate in 1977, Mr. Chafee asked to join the Intelligence Committee. About the same time, a former C.I.A. agent named Philip Agee was making a career out of publishing the names of his former colleagues, and when Senator Chafee traveled abroad and talked to intelligence agency officers, he was deluged with complaints.

Mr. Chafee said they had ''constantly'' raised the question: ''How can America let this happen?'' The Senator was particularly alarmed by the murder of the C.I.A. chief in Athens and an attack on a young agency officer in Jamaica. But still, the lawmaker does not believe that the agency should be given ''free rein,'' and he endorses effective Congressional oversight. ''We have a tremendous responsibility; the success of the agency is dependent to a great degree on how we do our jobs,'' he said. ''If we don't truly have oversight, something will go terribly wrong, and the agency will suffer.''

Critics contend that this oversight effort is not functioning well today, and they blame the Reagan Administration. ''We're just not getting the information,'' said Senator Leahy. ''We read things in the paper before we read them in the committee.'' Problem of Oversight

Mr. Chafee agrees, at least in part. He says that William J. Casey, the Director of Central Intelligence, has ''made mistakes,'' and adds, ''It is no secret that Bill Casey is not famous for crisp answers.''

As Senator Chafee performs his delicate balancing act between two important principles, he often glances over his shoulder at the shade of his late uncle, Zechariah Chafee, long a professor at Harvard Law School and a leading authority on the First Amendment. The Senator likes to quote ''Uncle Zack'' to the effect that First Amendment rights can be abridged in cases where ''the public safety is really imperiled.''

But when he was asked if that definition fit the current situation, if his uncle would have approved of his bill, Senator Chafee paused and said:

''I don't know. But I wish to heck he was around. I'd like to ask him.''

Illustrations: photo of Senator John H. Chafee


WASHINGTON, Jan. 19— The Nuclear Regulatory Commission's staff notified the Boston Edison Company today that it proposed to fine the utility $550,000, the highest civil penalty it has sought to date, for safety violations at the Pilgrim atomic plant.

The utility was given 30 days to organize an independent investigation of its own management structure and a systematic review of the status of all safety-related activities at the reactor.

Boston Edis on has until Feb. 18 to respond formally to the charge or to pay the fine. The utility 's vice president, John R. Stevens, said that the violations we re ''unintentional'' and that the company was cooperating f ully with the commission in investigating and correctingthe problems.

The Pilgrim reactor, licensed in 1972, is a 655-megawatt boiling water reactor near Plymouth, Mass. The commission staff said shoddy management was responsible for the violations, which ranged from substandard equipment and risky plant operation to ''a material false statement'' to the commission. It directed the utility to recommend improvements.

''We view the failures in the management and control of safetyrelated activities at the Pilgrim facility as very serious matters requiring extraordinary regulatory actions to assure that you will put forth a set of actions that will correct the problems described in this letter,'' Richard DeYoung, director of the Office of Inspection and Enforcement, wrote the utility.

Frank Ingram, a spokesman for the commission, said the $550,000 was the highest civil penalty ever proposed by the staff.


Anshu Jain (left) and Juergen Fitschen of Deutsche Bank.

BERLIN — Anshu Jain and Juergen Fitschen will step down early as co-chief executives of Deutsche Bank, which has struggled with legal issues and disappointing profits. They will be replaced by John Cryan, a British member of the company’s supervisory board who has worked for Switzerland’s UBS in the past, the bank said Sunday. Jain and Fitschen became joint chief executives of Germany’s biggest bank in 2012 and had contracts through March 2017. Deutsche Bank AG said Jain, 52, and Fitschen, 66, had decided ‘‘to step down early.’’ Jain will step down June 30 but has been asked to serve as a consultant until January. Fitschen was asked to stay in his job until the next annual meeting, in May 2016, ‘‘to ensure a smooth transition.’’ Cryan, 54, will become co-chief executive in July and take sole control when Fitschen leaves. He has sat on Deutsche Bank’s supervisory board since 2013. In April, Deutsche Bank agreed to pay $2.5 billion to US and British authorities to settle allegations its traders rigged important interest-rate benchmarks used to determine rates on a variety of debt. Unrelatedly, Fitschen and two predecessors went on trial that month on charges of attempted fraud for allegedly colluding to deceive judges in a long-running legal battle with a now-deceased media mogul, Leo Kirch. The defendants have denied any wrongdoing. Deutsche Bank also recently announced a reorganization that will involve spinning off its Postbank branches in Germany and eliminating less-profitable business at its investment banking division.

GARMISCH-PARTENKIRCHEN, Germany — World leaders on Sunday increased the pressure on Europe to resolve the Greek debt crisis, hours after one of the chief European negotiators expressed exasperation with how Prime Minister Alexis Tsipras of Greece was handling the talks. Chancellor Angela Merkel of Germany, host of the Group of 7 summit, said she and France’s president, François Hollande, spoke to Tsipras late Saturday and briefed other leaders on the conversation. “We can’t say yet that the problem is solved,” Merkel told the broadcaster ZDF. “We are working flat out.” President Obama also intensified the pressure for a resolution, with the White House warning that a failure to reach a deal could spark financial instability around the globe. Earlier Sunday, Jean-Claude Juncker, president of the European Commission, accused Tsipras of failing to disclose important details of the proposal made by Greece’s creditors when he addressed Parliament Friday. Juncker said he wanted Greece to remain in the euro currency zone but could not “pull a rabbit out of the hat.” Greece has until June 30 to work out a deal with the European Commission, the European Central Bank, and the International Monetary Fund, or it could default on its debt. The three entities lent Greece $240 billion in 2010 and 2012.

Fiat Chrysler Automobiles chief executive Sergio Marchionne.

MILAN — Fiat Chrysler Automobiles’ chief executive, Sergio Marchionne, intensified his call for an automotive mega-merger. Consolidation needs to happen soon because the industry pours $2.2 billion a week into developing new cars, Marchionne said. “Intelligent people would agree that a remediation of that waste is useful,” Marchionne said Saturday at The Council for the US and Italy. “The faster you do it, the better it is.” He is pushing the industry to share the cost of developing new technologies such as for autonomous cars and more efficient engines. His pleas have fallen on deaf ears as rosy US and European sales leave carmakers feeling less pressure to restructure. General Motors and Ford Motor Co. have both indicated they’re not interested. Marchionne’s search for a partner comes amid a push to boost Fiat Chrysler deliveries by more than half to 7 million cars in 2018. If Fiat Chrysler does find a partner, Marchionne would consider remaining as CEO past his announced 2018 departure date, he said.

NEW YORK — General Electric Co. is near a deal to sell a division that finances leveraged buyouts to a Canadian pension fund, a person briefed on the matter said Sunday. It would be a major step in the industrial giant’s campaign to shed its GE Capital lending arm. A deal between GE and the Canada Pension Plan Investment Board could be announced as soon as Monday, the person said. The Canadian fund is expected to take over assets totaling more than $10 billion. If completed, a sale would be a huge part of GE’s ambitious campaign to retreat from banking, part of a sweeping effort to refocus on its industrial roots. The conglomerate announced in April that it planned to sell the bulk of GE Capital within two years. The lending business, known within GE as the sponsor finance unit, was seen as one of GE Capital’s crown jewels. Bidding for the division drew a wide array of suitors, including major private equity firms. A spokeswoman for GE Capital declined to comment on the talks, which were reported earlier by The Wall Street Journal.

Summary:
BANKING

Deutsche Bank’s co-CEOs will step down

Anshu Jain (left) and Juergen Fitschen of Deutsche Bank.

Daniel Roland/AFP/Getty Images

Anshu Jain (left) and Juergen Fitschen of Deutsche Bank.


set the emotional tone for hundreds of films, but his legacy will be inexorably tied to one director, with whom he shared friendship, accolades, and admiration for more than 30 years.

"It's sad and shocking, and it's such a waste in a way,"

tells PEOPLE. "There's so much music he could have done, and we were looking forward to our next gig together."

At the time of Horner's death from a

, he was signed on to write the score for Cameron's next three

movies, and as Cameron spoke to PEOPLE, he said he was looking at a note on his desk reminding him to call the composer about getting started.

While he never began work on the project,

remains listed as his final credit, making Cameron an official colleague on one of the first and last films of the composer's

"His first composing for a film was on a Roger Corman film

in 1980, and that was also my first paycheck on a movie," Cameron remembers.

director was working as a production designer on the film at the time. "It's not like we hung out, but everybody knew everybody in that little group of guerilla filmmakers," he says.

After Cameron and the crew saw the finished movie, he says, "We were stunned at the score – this big orchestral score that sounded like something like a $20 million movie and this was a $2 million low-budget space opera."

Six years later, the director earned his studio debut with another sci-fi flick called

, and tapped his old colleague to write the music.

"It was the first film where we could afford an orchestral score and James was on the top of our list to do it. He was kind of the hometown boy made good from our group back then."

However, despite the mutual respect between the composer and director, their working relationship on the horror flick wasn't hitting the right notes.

"It was rocky at first on

," Cameron admits. "I don't think it was a good experience for either one of us, and I thought, 'I'm never working with this guy again.'"

Cameron chalks up the turmoil to Horner's heavy workload, explaining that "his success was sort of catching up with him in a way, and he kind of left us with a pile of music and we had to sort it out ourselves."

It would be another 10 years before the two worked together again.

, while Cameron sealed his reputation directing blockbusters like

During their hiatus as partners, Cameron says he never stopped admiring Horner's work, and hoped the two could eventually find a way to work together again.

When they finally reconciled on

, Cameron says "we were so overly accommodating to one another at the meeting, we joked about it for years afterwards. We actually worked out a way that we could prevent the problems that had happened before."

Horner ended up crafting three themes that he wrote based solely on multiple readings of the script and watching more than 30 hours of raw, uncut footage.

"I literally teared up at each one, and it was just him at his piano, by himself, no technical people around or anything and I knew it was going to be a fantastic score at that point," Cameron says.

cemented Cameron and Horner's close friendship, and earned the pair their first Academy Awards, for Best Director and Best Picture, and Best Score and Best Original Song, respectively.

After the film, both composer and director slowed their careers in film and focused on other passions. Horner turned his sights to the sky, while Cameron looked to the depths of the ocean for adventure.

"I think some people are satisfied living vicarious adventures through film, and I think he and I were attracted to real adventure," Cameron explains.

Horner became an expert pilot specializing in the dangerous art of aerial acrobatics. At the same time, Cameron set about exploring the ocean bottom, building custom submarines and eventually breaking the world record for deepest solo dive in 2012.

"It's about testing yourself against a very rigorous and disciplined kind of challenge, or using your own rigor and discipline against a challenge. In his case, it was a pretty unforgiving area of aviation in aerobatics, and for me, it was the most unforgiving sort of realm of technology and engineering in the world, which is the deep ocean," Cameron notes.

While his career was cut tragically short, Cameron ranks Horner among film's greatest composers.

"I think he's up there with John Williams and Hans Zimmer, firmly implanted at the top of the firmament of the current great masters."

Summary: The director remembers his close friend, collaborator, and musical muse


NEW YORK — Univision Holdings Inc., the largest Spanish-language broadcaster in the United States, is planning an initial public offering of stock, returning to the markets eight years after being taken private.

The New York-based company filed with a $100 million placeholder, an amount used to calculate fees that may change. Part owner Grupo Televisa SAB will hold voting power representing at least 22 percent of the common stock on matters other than for the election of directors, the filing shows.

Univision has been in the spotlight in the past week. It canceled the Miss USA telecast over Donald Trump’s comments about Mexican immigrants.

The broadcaster has been gaining viewers in the United States, drawing higher ratings than direct competitors such as NBC’s Telemundo and Ricardo Salinas’s Azteca America. During the Super Bowl broadcast in February, a Univision reality program was the most-watched show after the championship game itself, marking the third time in five years that a Spanish program placed second during the game.

“Most investors view Univision as a play on the growth of the US Hispanic population,” said Paul Sweeney, an analyst with Bloomberg Intelligence.

“Historically, ad spending on Hispanic TV has grown faster than English language TV as marketers target the younger, increasingly affluent Latino consumer.”

The network will be publicly traded again after being taken private in a $12.3 billion leveraged buyout by a group of investors led by Saban Capital Group and including Madison Dearborn Partners, Providence Equity Partners Inc., TPG Capital, and Thomas H. Lee Partners LP.

In 2010, Televisa, Mexico’s largest TV provider, bought a 5 percent equity stake and debt that could be converted into an additional 30 percent holding..

Revenue rose 11 percent to $2.91 billion last year, while net income dropped to $1.9 million from $216.2 million.

Last week, Univision canceled its broadcast of the Miss USA pageant after Trump labeled Mexican immigrants as rapists and drug dealers.

Several companies including NBC and Macy’s Inc. have since cut ties with Trump, who is joint organizer of Miss Universe organization. Trump subsequently filed a lawsuit against Univision, seeking $500 million.

The proceeds from the IPO will be used to repay debt and account for other general expenses, Univision said. The prospectus didn’t reveal how many shares the company will sell or how much each share will cost. Those details will come in a later filing.

Morgan Stanley, Goldman Sachs Group, and Deutsche Bank AG are managing the offering.

Summary: Spanish-language broadcasting company Univision Holdings Inc. filed plans Thursday to launch an initial public offering of its stock.


07/06/2015 AT 09:40 PM EDT

at her bedside since she

two weeks ago. However, PEOPLE confirms that the Brown family – except for father

– have been kicked out of the facility.

"The hospice, based on their discussion with the fiduciary, has decided that only the guardians and the caregivers are allowed," to visit Bobbi Kristina, a source tells PEOPLE. That means "Pat [Houston], Bobby and anybody involved with the guardianship, including Cissy [Houston]" can enter the 22-year-old's room, but other Brown family members can't.

The decision comes on the heels of news that photos of Bobbi Kristina at her Georgia hospice were

Bobbi Kristina's aunt Leolah Brown took to

Friday after several outlets, including

, confirmed they were offered the photos.

"You took that picture thinking you gon get some money for it...and thats gon be it! ...guess what!????!!!! I will myself if no one else does-see to it that -YOU be revealed!!!!" Leolah wrote.

confirmed the photos were taken from inside Bobbi Kristina's hospice room and were going for a rate in excess of $100,000. TMZ reportedly was told the photos were taken by "an extended family member."

Leolah also threatened to have every person who has visited Bobbi Kristina at the hospice undergo a lie detector test, and that she will figure out who's behind the pictures. Although, it is unclear which family member Leolah is accusing of selling the photos.

"YOU will not do to my niece what YOU did to Whitney," she wrote, referencing Bobbi Kristina's mother, the late

adding, "WHITNEY HOUSTON IS WORKING FROM THE GRAVE THRU ME! TRUST! I'm on a mission to make sure my niece gets justice by ANY means necessary!"

at a Fourth of July concert in Atlanta, but forgot lyrics throughout the show and frequently left the stage to hug loved ones.

"I am in a different zone right now," Brown, 46, told the audience. "If I go somewhere else, please join me on the tour because it's gonna be fun."

Bobbi Kristina has been unconscious and unresponsive since she was

Summary: "The hospice, based on their discussion with the fiduciary, has decided that only the guardians and the caregivers are allowed," a source tells PEOPLE


Equal parts terrifying and exhilarating, sharks have long been some of the most intriguing creatures to cruise the deep, blue sea -- so much so that on TV, we've dedicated an entire week to every frightening and fascinating aspect of this fish for 28 years.

Of course, even more exciting than seeing these sharp-toothed ocean predators on the tube, is the chance to witness their captivating beauty up-close, in real life.

Some divers (typically those who are more experienced) are brave enough to literally "swim with the sharks," meaning they do so freely without the protection of a cage.

However, if you're curious but not quite ready to get that friendly with these large sea creatures, a cage dive will likely better suit your appetite for a shark-viewing adventure.

From South Africa to Las Vegas (yes, you can see sharks in the middle of the desert), the following destinations are some of the world’s most spectacular places for a face-to-face, but cage-protected view of these truly fascinating fish.

Where To See Sharks -- From Behind A Cage

No one would expect to see a shark in the middle of a desert, yet the Mandalay Bay Hotel and Casino in Las Vegas is home to a 1.3 million gallon Shark Reef Aquarium, offering visitors an up-close view of several different shark species, including sandtiger, sandbar and white tip reef sharks as well as many other varieties of underwater wildlife.

And for certified SCUBA divers who want a truly magnified view, the aquarium offers a cage-free dive with sharks program as well.

With an extremely unique and diverse wildlife population, a dive into the waters of the Galapagos offers the chance to encounter several species of sharks, including hammerhead, Galapagos, dusky and whale sharks.

Plus, while you’re exploring beneath the sea, you may even have the opportunity to see other creatures like sea lions and large schools of tuna. Suggested Outfitter: Shark Diver

Aptly named, Tiger Beach off of Grand Bahama is one of the world's top spots for viewing, you guessed it, tiger sharks.

Most diving expeditions here guarantee an up-close sighting of these toothy creatures, which can grow up to about 16 feet in length. Suggested Outfitter: Cage Diver

According to Gear Patrol reporter Jason Heaton, Costa Rica's Cocos Island is the best place in the world to see hammerhead sharks.

During the summer months, it's not uncommon to come across large schools of these funny-faced fish and the area is also home to other species like white tip, Galapagos and whale sharks. Suggested Outfitter: Shark Diving International

Along with other marine wildlife, some of the world's largest great white sharks visit South East Farallon Island in the fall to feed on elephant seals before making a lengthy trans-pacific migration.

Divers here are almost always guaranteed a thrilling and theatrical encounter. Organizers at Shark Diving International say breach attacks often occur right in front of cages. Suggested Outfitter: Shark Diving International

Another popular spot for shark viewing in the Atlantic, Point Judith offers adventurous divers the opportunity to come face to face with both blue and mako sharks. Blue sharks are the most common, though, and according to organizers at Snappa Charters, they're also considered one of the most cooperative species when it comes to snapping photos.

Additionally, excursions in June and early July offer the chance to catch a glimpse of the lesser known and essentially un-harmful basking shark (pictured here). Suggested Outfitter: Snappa Charters

For experienced divers ready for an upgrade to a cage-free adventure, travel writer Charli Moore recommends a seven-day live-aboard dive exploring the islands of the Coral Sea, outer Great Barrier Reef and Osprey Reef, located about 217 miles off the coast of Cairns in Queensland.

"Famed for a shark feed dive -- no cage and a reef amphitheater looking out over a 1,000-meter drop off -- the bait brings in anywhere from 30 to 70 sharks,” Moore said. Suggested Outfitter: Mike Ball Dive Expeditions

For the complete list of the Best Places To See Sharks ... From Behind A Cage, go to TheActiveTimes.com.

More From The Active Times: -- Places You’re Most Likely to be Attacked by a Shark in the U.S. -- Summer Dangers You Should Know About -- Places You’re Most Likely to Be Struck by Lightning in the U.S. -- The Most Dangerous SCUBA Dives in the World

Chargers DE Corey Luiget's Africa Trip

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Summary:
By Katie Rosenbrock
TheActiveTimes.com
Equal parts terrifying and exhilarating, sharks have long been some of the most intriguing creatures to cruise ...


The travel site TripAdvisor’s key hire last October wasn’t a coder, designer, or sales person.

The company brought on a veteran of the Ritz-Carlton and W hotel chains, Matt Gabree, as “director of office experience,” giving him free rein in outfitting the new 282,000-square-foot TripAdvisor Inc. headquarters in Needham, which officially opens on Tuesday.

The result is one of Boston’s most luxurious office environments; if it were ranked on TripAdvisor’s own site, it would approach the apex rating of five green circles. (Reviewers might hold back half a circle for the location, several miles from public transit and wedged between a Coca-Cola bottling facility, a parking garage, and Route 128.)

The hope is that the swanky new office will be an advantage in an intensely competitive hiring market for tech employees — TripAdvisor currently has 100 open positions.

Nearly 1,000 people moved into the building in July, and it has room for about 500 more, said Brooke Ferencsik, TripAdvisor’s director of communications. There is also room for additional buildings, he added.

Visitors to the new facility first encounter a large saltwater fish tank — the denizens came over from TripAdvisor’s old office in Newton — and a wall decorated with a giant world map and several vintage suitcases. The first floor is home to amenities such as a 3,000-square-foot fitness center, with 10 instructor-led classes a week and an array of high-end workout gear; a large meeting space called Boston Common that will be available for community events; a game room with video games, shuffleboard, Ping-Pong, and billiards; and a lounge with craft beer on tap, comfy seating, and flat-panel TVs. The lounge opens up onto a plaza with an outdoor fireplace, brightly colored Adirondack chairs, and an open-air amphitheater that Ferencsik said will eventually host concerts and movies.

Each floor takes a different continent as its theme, and every desk has a button that can adjust it from sitting to stand-up mode. There are indoor and outdoor casual-seating areas for ad hoc conclaves, and Gabree said that 90 percent of the employee areas get natural light. Baker Design Group of Boston handled the interior design.

The building’s heart is the four-story atrium, which can host all-staff meetings. There are moss-lined walls and a giant drop-down screen for videos and presentations. Behind a wide staircase that doubles as a seating area is The Hungry Owl, a cafeteria named for TripAdvisor’s mascot. A full-time chef and a staff of 20 serve free lunch five days a week. Gabree said that the company is trying a “stealth health” approach to encourage good habits. That means no cafeteria trays that encourage loading-up. And a beverage case has two doors: One is frosted to conceal the sugary sodas, the other is clear to sell the flavored water, V-8, and Honest Tea.

The guiding ethos of the new headquarters, Gabree said, is that “you are working super-hard with super-smart people, and having fun. We wanted to enable people to be social and active.”

Will TripAdvisor’s new spread give it a leg up in hiring?

Paul Blumenfeld of Genero Search Group, an Arlington tech recruiting firm, said that an eye-popping office may now be table stakes. “You have to compete against Amazon, Facebook, Google, and Microsoft in this town,” he said. They typically vie to land employees who have several options. “At some level of consciousness, the workplace vibe is sinking in, along with the job the person will have, the compensation, and the benefits.”

“Office environments do count,” said David Hayes, founder of the Cambridge recruiting agency HireMinds, “but probably not as much as companies think they do.” The company’s culture is a big factor, as is location, Hayes said. (TripAdvisor has contracted with a shuttle bus company to bring in employees from Cambridge, North Station, and the Needham Highlands commuter rail stop.)

TripAdvisor operates the world’s most-visited collection of travel sites, reaching 340 million unique monthly visitors. To attract TripAdvisor to Needham, the town offered $1.8 million in reduced taxes over 13 years. TripAdvisor also has a satellite office near North Station.

Summary: The online travel resource is aiming to compete with tech giants with its bevy of office perks


The most important of which is not whether it will boost European Union growth and inflation, but whether it will create an unexpected problem, the likes of which the Federal Reserve never need deal.

Will the ECB and individual central banks make or lose money on their bond buys?

Read MoreCNBC survey: Bet on emerging international markets

Remember when the Fed launched its zero interest-rate policy (ZIRP) and the first round of quantitative easing (QE), many said the Fed would take a bath buying both U.S. Treasury bonds and mortgage securities?

The difference was that the Fed, almost by definition, was "buying the bottom" in mortgages, whose prices were so distressed, and the market so illiquid that the Fed could virtually only make money on the transactions. So, too, with Treasurys. The Fed started buying bonds when interest rates were considerably higher and, thus, since the start of QE I, all the way through QE III, the Fed has logged large capital gains on its bond portfolio and remitted back to the Treasury the interest payments from both mortgage securities and Treasury bonds.

However, in the case of the ECB and other individual central banks, they will be buying sovereign debt with yields at historic lows and, as bond math goes, prices at historic highs. In some cases, European bond yields are negative, suggesting that it will be impossible for some of the central banks to ever make money on their QE programs.

Read MoreHistory shows Fed will ease market pain

Rather ironically, QE is designed to bring about lower interest rates, something the Fed's program was quite successful at.

With the exception of Greece, European rates had already greatly discounted the well-telegraphed ECB program, leaving no room for the "shock and awe" that could move markets in a desired direction.

The larger question, which only a handful have thought to ask, is what happens to the central banks if they do, indeed, lose money on their bond buys?

Larger balance sheets, with portfolio losses could reduce the available capital of the individual central banks and the ECB.

Will individual governments be forced to re-capitalize, or bail out the central banks, which are trying to bail out the very countries they are trying to help?

Read MoreOp-ed: The real Deflategate you should be freaking out about

It is a tough question to answer since central banks need not take mark-to-market losses.

They can simply hold the bonds until they mature.

But unlike the Fed, European central banks may face default risk in the peripheral countries of Europe, further complicating an already questionable task.

One has to wonder if QE, at this juncture, is the right tool for Europe. It worked in the U.S. because it was unexpected, unexpectedly large and carried an element of surprise, which shocked markets back to life, much in the same way a defibrillator jolts a heart-attack victim back to life.

For a variety of reasons, the ECB's paddles may not have the same juice in them as the ones used by the Fed.

And while I think European equity markets may move higher as the program nears launch, a failure to resuscitate this moribund patient could spell trouble, not just for the victim, but for the doctors treating him as well.

Summary: Unlike the US, Europe's central banks might actually lose money on their bond buying, says Ron Insana. And what happens then — who bails THEM out?


FORTUNE — The Justice Department’s proposed $13 billion settlement with JPMorgan Chase over mortgage misdeeds has stalled, and the issue appears to be this: Who should pay for WaMu’s poo?

The Justice Department says JPMorgan JPM . JPMorgan says an FDIC trust. The correct answer may not be the one you think.

Here are the facts: JPMorgan bought Washington Mutual, which had failed, out of receivership from the Federal Deposit Insurance Corp. in 2008. And despite the guffaws over JPMorgan’s contention that it should get all of WaMu’s good stuff, like billions in deposits, and not have to take all of the bad stuff, in this case billions in mortgage liabilities, that may actually be the case. Bloomberg’s Matt Levine calls this bonkers.

MORE: JPMorgan’s $13 billion fine: Payoff, not extortion

But this was late 2008. Getting good banks to buy bad ones was not easy. JPMorgan did agree to swallow most of the costs of WaMu’s failure. But there were some costs the FDIC agreed to cover, and it set up a trust to do that. Much of the money to fund the trust came from the $1.9 billion JPMorgan paid for WaMu. For instance, the trust was suppose to pay for breaking leases on closed WaMu bank branches. Currently, there is $2.7 billion remaining in the trust, and about $13 billion in claims. The FDIC declined to comment on who put in the claims. But a former FDIC official said that most of the claims were for losses on WaMu bonds, which were also not covered by the JPMorgan deal.

Much of those bonds have since been bought by hedge funds that buy distressed debt — some people call them vultures — for pennies on the dollar. Earlier this year, some of those hedge funds, including New York-based Anchorage Capital, argued in court that the remaining money in the trust should be theirs. JPMorgan thinks the money should be used to pay investors who lost money on faulty mortgage bonds sold by WaMu, so that it doesn’t have to. A judge dismissed the hedge funds’ claim. But the court battle over who should get the money remaining in the FDIC’s WaMu trust continues.

And this is the fight that the Justice Department has unwittingly, perhaps, walked into with its settlement deal for JPMorgan. People close to the negotiations say JPMorgan has no plans to sue the FDIC for money in the agency’s general insurance fund. But the bank wants to preserve its ability to put any damages it has to pay on WaMu mortgage bonds back to the trust, which again was mostly funded by JPMorgan’s own money. Still, even this possibility is unacceptable to the Justice Department.

Generally, prosecutors and regulators want the companies they are trying to punish to pay penalties themselves, or else it’s really not that much of a penalty or deterrent from breaking the rules next time. What’s more, politically it won’t look all that good if the FDIC ends up paying a portion of JPMorgan’s fine. Talk of the JPMorgan settlement not being fair was ridiculed by The Daily Show. Already, Moveon.org has a petition against allowing JPMorgan to get a tax break on the settlement.

MORE: Europe’s banks need to shrink

But when you look at who loses if JPMorgan is allowed to tap the FDIC WaMu trust for a portion of the settlement, it’s not clear why the Justice Department cares. It’s not the FDIC or taxpayers. It’s the bunch of hedge funds, which if the Justice Department gets its way will be able to walk away with the entire $2.7 billion on their high-risk gamble on WaMu bonds. Is this really the good fight?

And from a public policy perspective, forcing JPMorgan to pay could do a lot of damage. A key part of resolving the last financial crisis was matching up failing banks with safe ones. Punishing JPMorgan for WaMu, even if it got all the good stuff, might make it harder to find willing buyers next time. Some people have brought up the flip side of that, which is that forcing bond investors to shoulder these costs will cause the cost of borrowing for banks to go up.

But that’s exactly what we want. One of the problems of too big to fail is that it’s too easy for the banks to borrow, allowing them to pile on the leverage and ratchet up their risk of failing. “Who should bear the loss of WaMu, is an important public policy question, with huge ramifications for the next crisis,” says Washington, D.C.-based bank consultant Bert Ely.

I would argue “hedge funds” is actually the best answer for all of us, even if “JPMorgan” would be a more satisfying one.

Summary: Why is the Justice Department fighting the bank just so it can hand a pile of money to hedge funds?


There are winners and losers from the 60 percent tumble in oil prices—and U.S. consumers are definitely in the former camp, billionaire investor Wilbur Ross told CNBC on Thursday.

"I think it probably puts in the American consumer's pocket something like $90 a month for each family," the 77-year-old chairman of private equity firm WL Ross & Co said.

"While that may not sound like a lot, it really is, because there are an awful lot of folks who live payroll-to-payroll, so putting $90 more cash money (into their pockets) is a good thing."

WL Ross invests in energy, along with other industries including financial services, transportation, building materials, metals and mining, and real estate. It holds around $7 billion investments and an additional $3 billion in co-investments with partners.

Read MorePrivate equity investors pile into Africa

Prices of both Brent and WTI crude oil have slid since June last year, and now trade around $55 and $44 respectively, having priced at above $100 for around three years previously.

"I think the lower price of oil is certainly good for the developed world. The U.S., despite all the shale, is still a net importer, so are most of the European countries and certainly so is China and so is Japan," Ross told CNBC on Thursday.

Read MoreEarly jobs for some of Wall Street's finest

The U.S. investor added: "You have already seen sales of the heavier fuel-guzzling vehicles—the SUVs and the light trucks—get very strong, once the gasoline prices at the pump went below $3."

Summary: There are winners and losers from the tumble in oil prices — and U.S. consumers are definitely the former, billionaire investor Wilbur Ross told CNBC.


08/24/2015 AT 01:00 PM EDT

Not many couples could have braved the heartwrenching scenario that Solomon Chau and Jennifer Carter faced. The pair were married four months before Chau succumbed to terminal liver cancer at age 26, with his funeral falling on the date the pair had originally set for their wedding.

"He fought until his very last breath, and had all of his doctors shaking their heads in disbelief at just how much he could handle,"

Chau was diagnosed in April 2014, and the pair immediately began planning to push their wedding forward. They were married a year later, on April 11.

Video (above) and photos from the couple's wedding betray none of the sadness you would expect from such a situation, instead focusing on the eight years of love they shared. "I have to love you as much as I can, for as long as I can, and I can never stop loving you, not even for a second," they captioned their photo album.

by over 600 people, who raised $52,431 in just a few days via GoFundMe last year after news of Chau's terminal diagnosis spread.

The couple met at Chau's 19th birthday party and began dating after he moved to Toronto. They were together for six years before he proposed.

"You and I should have been able to live the next 60 years of our lives together, but I'm still forever thankful that God gave us eight incredible years," Carter wrote.

Summary: Jennifer Carter and Solomon Chau scrambled to push their wedding date up after receiving Chau's diagnosis


The Machinists' offer comes one day after bids were due from states looking to attract the final assembly plant for the 777X.

More than a dozen states, including Washington, were expected to formally pitch Boeing.

Many have passed tax incentive packages and are publicly lobbying Boeing to bring the plant and an estimated 2,000-4,000 jobs to their state.

(Read more: Boeing 777 to be built where it makes 'most sense')

The prospect of Washington State losing the next major plane from Boeing likely prompted Machinists leaders to approach Boeing with a new contract offer given the job security it would bring for the next 20 years

Just four weeks ago, two-thirds of the Machinists rejected a contract extension from Boeing, with many calling the offer inadequate.

—By CNBC's Phil LeBeau. Follow him on Twitter @LeBeauCarNews.

Summary: Machinists in Washington hope that a new contract offer to Boeing will lead the company to decide to build the new 777X plane in the Seattle area.


Releasing music as Bright Eyes, Desaparecidos, Mystic Valley Band, Monsters of Folk, and under his own name, Conor Oberst has long exhibited an affinity for reinvention. One thing remains consistent, however, and it’s abundant on his latest: a raw laying bare of emotion delivered with a poet’s ear for lyrical specificity. “Home is a perjury, a parlor trick, an urban myth,” he sings on “Zigzagging Toward the Light,” a song whose bounce belies its sense of displacement. That sort of muso-lyrical counterbalance is abundant here. “Desert Island Questionnaire” is a gradually cresting number that resounds with congregational spirituality. “I’m so bored with my life, but I’m still afraid to die,” he sings. Few artists can make lyrics like that sound like a joyful exultation. The church bells help sell the concept of a funeral mass for the spirit, but like many funerals, it’s one where the cherished memories mingle together with the loss. (Out Tuesday)LUKE O’NEIL

Summary: Releasing music as Bright Eyes, Desaparecidos, Mystic Valley Band, Monsters of Folk, and under his own name, Conor Oberst has long exhibited a Neil Young- or Beck-like affinity for reinvention.


Appointment reinforces Chevron’s commitment to industry consensus

SAN RAMON, Calif.--(BUSINESS WIRE)-- Chevron Products Company, a Chevron U.S.A. Inc. division, today announced that Senior Staff Engineer Shawn Whitacre has been selected as the new chairman of the ASTM Heavy-Duty Engine Oil Classification Panel (HDEOCP). Shawn replaces the outgoing chairman, Chevron Consulting Scientist Jim McGeehan, who has led the panel since 1987. Shawn will help to lead development of the upcoming Proposed Category 11 (PC-11) and provide guidance as the heavy duty motor oil category continues to evolve.

“Shawn brings technical expertise form Chevron along with the perspective and expertise of working in fluids for an engine manufacturer at Cummins,” said Brian Stripling, General Manager of Brand, Technology and OEM, Chevron Lubricants. “His expertise will be key to generating the industry consensus that the industry must reach to continue moving forward. Jim McGeehan was instrumental in moving HDMO stakeholders to consensus over his 28-year term, and we believe Shawn’s experience will help carry on this precedence.”

Shawn has been involved with the ASTM HDEOCP since 1996, and has helped to develop five categories dating back to API CH-4. Chevron recently named Shawn as Jim McGeehan’s direct replacement when the longtime industry leader retired in June 2015. At Chevron, Shawn is primarily responsible for product formulation of the Delo® Brand of Heavy Duty Engine Oils, and is the lead formulator responsible for development of Chevron’s PC-11 product line upgrade.

Shawn’s career spans nearly 20 years focused exclusively on research and engineering dealing with heavy-duty engine lubricants, fuels, and materials. Before joining Chevron in 2013, he spent 12 years leading global fluids and materials engineering activities for Cummins. He also spent five years conducting lubricant, fuel, and emission research for the Department of Energy’s National Renewable Energy Laboratory in Golden, CO.

“While the ASTM develops categories for the North American market, these categories influence the global HDMO market,” said Shawn. “Jim has enjoyed an admirable career and I am honored to assume his responsibilities at the ASTM and at Chevron.”

Previously, Chevron consulting scientist Jim McGeehan had been Chairman of the ASTM HDEOCP, and had led the team responsible for establishing progressively improved HDMO categories that helped increase engine durability and reduce emissions. He successfully led the introduction of seven categories from API CE through API CJ-4.

About Chevron Products CompanyChevron Products Company is a division of an indirect, wholly owned subsidiary of Chevron Corporation (NYSE: CVX) headquartered in San Ramon, CA. A full line of lubrication and coolant products are marketed through this organization. Select brands include Havoline®, Delo® and Havoline Xpress Lube®. Chevron Intellectual Property LLC owns patented technology in advanced lubricants products, new generation base oil technology and coolants.

For more information go to: www.ChevronLubricants.com

View source version on businesswire.com: http://www.businesswire.com/news/home/20150902005388/en/

Cohn&Wolfe for Chevron DeloWes Robinson, 323-602-1080ChevronLubes@cohnwolfe.com

Summary: SAN RAMON, Calif.---- Chevron Products Company, a Chevron U.S.A. Inc. division, today announced that Senior Staff Engineer Shawn Whitacre has been selected as the new chairman of the ASTM Heavy-Duty Engine Oil Classification Panel. Shawn replaces the outgoing chairman, Chevron Consulting Scientist Jim McGeehan, who has led the panel since 1987. Shawn will help to...


A new round of talks will start in Brussels on Wednesday afternoon, with outgoing European Commission Vice-President Guenther Oettinger chairing talks between Russian Energy Minister Alexander Novak and Ukrainian Energy Minister Yuri Prodan. These are aimed at securing gas supplies through winter to Europe and Ukraine—where temperatures have already fallen below zero Celsius.

Read MoreWinter is coming—and so is $100 oil

However, prospects for a resolution are uncertain. Oettinger has publicly express doubts, telling German television on Wednesday that there was a 50 percent chance of a breakthrough, according to Reuters.

"Public statements have been encouraging, but privately the tone is much less optimistic, with neither side seemingly that willing to cut a deal over gas, and significant hurdles still remaining," said Timothy Ash, head of emerging market research ex-Africa at Standard Bank, in a note this week.

Read MoreTrack natural gas prices

The biggest stumbling block is Ukraine's outstanding gas debt to Russia. Russian state-owned gas giant Gazprom claims Ukraine owes it $5.3 billion. Ukraine must replay $3.1 billion by the end of the year.

However, Ukraine's dire financial straits mean it is unable to pay off its debts without further international assistance, having already received a $17 billion bailout from the International Monetary Fund.

It is also doubtful how Ukraine will afford fresh gas payments through winter. The country must pay $385 per 100 meters cubed of gas by advanced monthly payment.

"Ukraine is pretty desperate given that they haven't received any gas from Russia since the summer," Liza Ermolenko, emerging markets economist at Capital Economics, told CNBC on Wednesday. "How much Ukraine is willing to give in depends on what price Russia will insist on."

Read MoreWeak oil price hitsTotal results

The victory of pro-Western reformist parties in Ukrainian elections over the weekend adds an extra aspect to the deadlock, as it could antagonize Russia and rebels in the east of Ukraine. On the flip side, pro-Russia parties did slightly better than expected, winning almost 10 percent of the vote.

Summary: Europe could be plunged into an energy crisis this winter if last-ditch talks on Wednesday fail to see Russia resume gas flows to Ukraine.


NAVAL BASE VENTURA COUNTY, Point Mugu, Calif., Sept. 2, 2015 /PRNewswire/ -- The U.S. Navy's fourth Mobile User Objective System (MUOS-4) satellite, built by Lockheed Martin (NYSE: LMT), is talking from space to the satellite control team at the Naval Spacecraft Operations Control facility here after its Florida launch this morning. MUOS-4 will enable near-global coverage for a new secure military communications network offering enhanced capabilities for mobile forces.

The MUOS-4 satellite launched at 6:18 a.m. EDT this morning aboard a United Launch Alliance Atlas V rocket from Cape Canaveral Air Force Station, Florida. A Lockheed Martin-led initialization team, stationed at Naval Base Ventura County, Point Mugu, California, is operating the satellite from its transfer orbit to its test slot.

The Navy's Program Executive Office for Space Systems and its Communications Satellite Program Office responsible for the MUOS program are based in San Diego. Lockheed Martin assembled and tested MUOS-4 at its Sunnyvale, California facility.

Downloadable images of the MUOS-4 satellite are available at this link: http://ow.ly/RGtgz

MUOS-4 is the latest addition to a network of orbiting satellites and relay ground stations that is revolutionizing secure communications for mobile military forces. Users with operational MUOS terminals can seamlessly connect beyond line-of-sight around the globe and into the Global Information Grid. MUOS' new smart phone-like capabilities include simultaneous, crystal-clear voice, video and mission data, over a high-speed Internet Protocol-based system.

The addition of MUOS-4 completes the initial constellation and provides the MUOS network with near-global coverage, extending the reach of communications further toward the North and South poles than ever before.

This morning, the MUOS-4 satellite separated from its Atlas V rocket approximately three hours after its successful launch. Over the next few days, MUOS-4 will transition to reach its geosynchronous orbit location approximately 22,000 miles (37,586 km) above the Earth. The satellite's solar arrays and antennas will then be deployed, and on-orbit testing will start for subsequent turn-over to the Navy for test and commissioning to service.

"The most dangerous part of a satellite's life is launch and getting into orbit. I really want to thank our entire team whose hard work prepared MUOS-4 for this mission-critical event and the Atlas team who ultimately carried us safely to our transfer orbit," said Iris Bombelyn, vice president of Narrowband Communications at Lockheed Martin. "We look forward to completing our on-orbit health checks and delivering this important asset to the U.S. Navy and these new capabilities to our mobile forces."

In June, Lockheed Martin completed and shipped the MUOS-4 satellite from California to the Cape. In August, technicians encapsulated the satellite in its protective launch fairing.

The MUOS-4 satellite joins a network, which already includes MUOS-1, MUOS-2 and MUOS-3, launched respectively in 2012, 2013 and January 2015, and four required MUOS ground stations already completed. Once fully operational, the MUOS network will provide comparatively 16 times the capacity of the legacy ultra high frequency communications satellite system, which it will continue to support, and eventually replace.

More than 55,000 currently fielded radio terminals can be upgraded to be MUOS-compatible, with many of them requiring just a software upgrade.

As part of Lockheed Martin's "Launch and Learn" program, company volunteers visited Ronald McNair Magnet Middle School, in nearby Rockledge, Florida, to tie the MUOS launch into science, technology, engineering and math (STEM) education. Employees led a hands-on Engineering Design Challenge for nearly 500 McNair middle school students to demonstrate the important principles of space engineering.

For additional MUOS information, photos and video visit: www.lockheedmartin.com/muos

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2014 were $45.6 billion.

Media Contact:Chip Eschenfelder, +1 303-977-8375; chip.eschenfelder@lmco.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/command-performance-lockheed-martin-built-muos-4-secure-communications-satellite-responding-normally-to-ground-control-post-launch-300136861.html

Summary: NAVAL BASE VENTURA COUNTY, Point Mugu, Calif., Sept. 2, 2015/ PRNewswire/-- The U.S. Navy's fourth Mobile User Objective System satellite, built by Lockheed Martin, is talking from space to the satellite control team at the Naval Spacecraft Operations Control facility here after its Florida launch this morning. A Lockheed Martin- led initialization team, stationed at...


Warren Buffett is making the case for energy sector leader Phillips 66. And traders watching both the charts and the fundamentals say the stock indeed looks to be a good buy.

In a Tuesday interview on CNBC, Buffett made the point that "Phillips 66 is not a pure refiner—they've got a big chemicals division, a midstream business, so we're not buying it as a refiner [and] we're certainly not buying it as an integrated oil company—we're buying it because we like the company and we like the management."

Warren Buffett: Economy 'not bad' but 'not booming'

Buffett's Berkshire Hathaway recently disclosed a 10.8 percent stake in the company.

Phillips 66 has risen 10.6 percent this year, even as the broader energy sector has slid some 20 percent. Unlike most energy companies, Phillips 66 actual sees some benefits from falling oil prices, because gasoline has held up much better than crude itself; as the spread between the two commodities increases, refiners' profit margins rise as well.

For Oppenheimer technical analyst Ari Wald, refiners are a diamond within "an energy sector we dislike."

In fact, noting the impressive relative performance of the refining stocks, Wald would recommend a long position in Phillips shares against a short position in the energy sector ETF (XLE).

Read More Buffett's stake in PSX not meaningful: Matthews

Summary: Warren Buffett is making the case for a leading energy name. And the charts and fundamentals both make the stock look attractive, traders say.


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Summary: - One nominee will receive the Award, provided that the quality of entries meets the standard required by the judging panel. If entries do not meet the standard required, the judges reserve the right not to select an Award winner. The award is open to individuals who, through achievements in work or life, have made an exceptional contribution to efforts of those working at the grass routes of international development in the developing world


While many investors and companies have shifted their outlooks and positions amid the recent growth fears surrounding China, General Electric CEO Jeff Immelt said Thursday that he believes those fears have been overdone.

"It used to be easy for everyone in China because it was a macro story. Everything in China grew; now it's a micro story," Immelt told CNBC's "Squawk on the Street."

"If you're in the aviation business like we are, things are booming. If you're in the electrification business, things are booming. If you're in the mining business, it's quite tough," Immelt added.

He also said he sees the underlying economic growth in China between 5 and 7 percent and he expects the company's China orders to be up in the high single digits. "It's probably slower than it was in the past, but it's not terrible by any means."

GE shares have fallen more than 6 percent in the last month, as Chinese equities have fallen in that time.

GE in the last month

Shanghai Composite in the last month

Immelt also shared his view on the U.S. economy, saying that, while it is improving, "you don't see anything that's inflationary."

He also said this presents a challenge for the Federal Reserve to raise interest rates as its Free Open Market Committee (FOMC) meeting approaches.

"I actually think that interest rates starting to go up is a good thing for us, ultimately, not a bad thing," he said.

U.S. equities have been jittery as the FOMC meeting nears, with U.S. stocks closing sharply lower on Wednesday after a strong open.

Summary: "It used to be easy for everyone in China because it was a macro story ... now it's a micro story," Immelt said.


Policymakers in Japan and Thailand are due to meet on Monday and Wednesday respectively, but analysts say they are unlikely to make any moves ahead of the Fed's decision on Thursday.

Central-bank watchers expect the Bank of Japan (BOJ) to maintain its expansionary monetary policy, while the Bank of Thailand (BOT) is seen holding interest rates steady at 1.5 percent this week, as it awaits the effects from its previous rate cuts in March and April.

Meanwhile, a slew of economic indicators could also serve up more risks for Asia in the week ahead.

Japan's exports are expected to slow further in August, economists polled by Reuters said, underscoring concerns about the fragile recovery in the world's third-biggest economy. Exports are seen rising 4.0 percent from a year earlier, down from 7.6 percent in the preceding month. Imports may fall 2.2 percent on-year, compared with a drop of 3.2 percent in July.

This translates into a monthly deficit of 541.30 billion yen a year earlier, versus the trade deficit of 268.40 billion, the Reuters poll indicated.

Read MoreHere's why Japan's biggest mafia group is splitting up

In India, the twin inflation data due on Monday will likely add to the pressure on the Reserve Bank of India (RBI) to cut interest rates at its meeting later this month.

For August, wholesale prices may fall for the tenth straight month, falling 4.4 percent on the back of plunging global energy costs and weak food prices, a Reuters poll showed. The wholesale price index (WPI) dropped 4.05 percent in July.

Economists polled by Reuters also expect consumer inflation to ease to 3.60 percent in August on-year, from July's all-time low of 3.78 percent.

Read MoreTwo weeks, three reform setbacks for India's Modi

Due on Thursday, New Zealand's second quarter gross domestic product (GDP) is seen growing 0.5 percent from the previous three months, according to Reuters, picking up pace from the first quarter's 0.2 percent rise which marked the country's lowest quarterly growth rate in two years.

On a year-on-year basis, the economy likely expanded 2.5 percent in the April-June period, down slightly from 2.6 percent in the first three months of 2015, as exports continue to weigh on growth given the sustained slump in dairy prices.

However, the Reserve Bank of New Zealand's (RBNZ) easing bias should lift household consumption in the second half of 2015, Moody's Analytics said. Last Thursday, the RBNZ cut its benchmark interest rate by 25 basis points for the third consecutive meeting while signaling the possibility of further easing.

Summary: The key question plaguing investors may finally see an answer, when the Fed meets for two days starting Wednesday.


Sixteen years after he failed to convince Australians to cut ties with the monarchy, Prime Minister Malcolm Turnbull will welcome Prince Charles and his wife Camilla to the country.

The future king will make his second trip to Australia in three years with the November 10-15 itinerary including visits to Adelaide and Tanunda, Canberra, Sydney, Albany and Perth.

Mr Turnbull, the leader of the failed campaign for Australia to become a republic in 1999, said: "Lucy and I will be delighted to welcome The Prince and Duchess and expect Australians will be eager to display our country's hospitality to the Royal couple".

The cost to taxpayers of the last trip by the king-in-waiting between November 5-10, 2012, was more than $430,000 with expenses related to the royal couple and 15 members of the royal party.

But that was a far cry from the nearly $2.7 million pricetag of the Queen's visit in 2011.

In the last decade members of the royal family have toured Australian shores more than a dozen times.

Prince Charles and Camilla will get a taste of regional life in the South Australian town of Tanunda and celebrate the Prince's birthday with West Australian families at a barbecue at Cottesloe Beach in Perth.

In Sydney the Duchess of Cornwall will visit Oz Harvest, a charity which collects surplus food and redistributes it to charities which support the vulnerable.

The prince will also visit the National Museum in Canberra and in Perth hear about the efforts of the Western Australian Seed Technology Centre to preserve Western Australia's biodiversity.

The couple will spend Remembrance Day in Canberra where he will meet Mr Turnbull and attend the National Ceremony at the Australian War Memorial.

The duchess, who is Colonel-in-Chief of The Royal Australian Corps of Military Police, will also visit Victoria Barracks in Sydney to mark its 100th anniversary.

The couple will start their tour in New Zealand on November where they will visit Wellington, Auckland, Dunedin, Nelson, Ngaruawahia, New Plymouth and Westport.

Do you have any news photos or videos?

Summary: Prince Charles and Camilla will tour Australia and New Zealand next month, with the prince to celebrate his birthday with a beach barbecue in Perth.


The first thing to do is look at your 401(k) in the context of all your assets, advisors say. If you also own, say, an individual retirement account or taxable accounts—savings or stock accounts—make sure the asset allocation in your 401(k) reflects your overall holdings so you are not too heavily invested in any one market sector or lack exposure to stocks.

Also consider your risk tolerance. That is, determine to what degree you can tolerate large swings in the value of your investments due to market volatility. People who misjudge their risk tolerance might panic during a market drop and unload investments, which advisors say is unwise.

Read MoreWhat to do with after-tax 401(k) savings

Regardless of whether you have 100 percent of your 401(k) in stocks or you have, say, 70 percent in stocks and 30 percent in fixed income such as cash or bonds, Snider said his firm generally approaches the stock—or equity—portion the same.

The tricky thing for advisors is that when it comes to a 401(k), the ideal allocation for clients is only possible to the extent that the plan allows it.

Summary: Some advisors say if you have the wherewithal and know-how, build a 401(k) portfolio that provides an individualized investment approach.


David Beckham at a refugee camp in Djibouti

11/09/2015 AT 02:45 PM EST

continued his trip around the world in seven games this week with stops in both Nepal and Djibouti.

Beckham, who has served as a

for 10 years, is traveling the globe to play soccer matches in each of the world's continents to raise awareness of and funds for the aide organization.

the incredible journey in Papa New Guinea last Wednesday, before visiting Nepal in Asia on Saturday and Djibouti in Africa on Sunday.

In a photo from the Nepal leg of his tour, Beckham posed with small schoolchildren who photobombed the athlete by making bunny ears with their fingers.

"Bunny ears are the same everywhere in the world," he wrote.

also documented her husband's stay in South Asia,

on the photo sharing site that she was "very proud" of him.

The excursion, which will be the subject of a

, will also include stops in Buenos Aires, Miami and Antarctica, where he will play soccer games with locals from each community.

Beckham's match in Africa also came with a "first" for the 40-year-old.

"Beautiful landscape just before the game," he wrote on a picture of the dusty field of play. "This was a first having to clear the goats off the pitch... Met some amazing people in Djibouti ... Great to see the amazing work UNICEF are doing on the ground."

Beckham also shared a photo of his soccer cleats, and one of him

in a refugee camp who are "benefitting from the incredible work of @UNICEF and its partners."

this year, will play his

, the UNICEF Match for Children, at Old Trafford field on Nov. 14. The field is home to the British Manchester United team – with whom Beckham played until 2003. The match will be Beckham's first time playing an official match since his retirement in 2013.

"Whether as a player or out in the field for UNICEF and other charitable partners, I have seen the transformational effect that sport and in particular football has on people's lives," Beckham said, according to BBC One. "This epic journey will allow me to show the positive side of the game I love and shine a light on the passion and selflessness of people that play this sport as a force for good."

Summary: David Beckham is traveling around the world to raise awareness and funds for UNICEF


NEW YORK — Target will open its doors at 6 p.m. on Thanksgiving Day, the same time as last year.

But shoppers don’t have to trek to a store after eating turkey and stuffing; the same deals will be available online at Target.com on Thanksgiving morning, the Minneapolis-based retailer said Monday. Target said it will also offer different deals for 10 days, starting on Nov. 22.

Target Corp.’s plan is the latest sign of retailers spreading their deals beyond Black Friday, the busiest shopping day of the year. Target and rival Wal-Mart Stores Inc. began opening on Thanksgiving three years ago to better compete with online retailers and other competitors. The holiday shopping is critical to retailers, accounting to about 20 percent of annual retail sales.

Target is sweetening the deal for those that do shop on Black Friday: Shoppers who spend at least $75 will receive a 20 percent discount they can use between Dec. 4 and Dec. 13. After opening on Thanksgiving, Target will stay open throughout the night and remain open into Black Friday.

Companies that have already announced plans to open on Thanksgiving include toy seller Toys R Us and department store chains Macy Inc. and Sears Holdings Corp.

Summary: Target’s plan is the latest sign of retailers spreading their deals beyond Black Friday, the busiest shopping day of the year.


12/03/2015 AT 01:00 PM EST

's 2009 VMAs speech, he spent the time after it in a creative rebirth.

"After the infamous Taylor Swift moment, I sort of did a little self-exile, just to get away from paparazzi and to have people not, you know, just f---ing with me constantly," West said Wednesday in New York during his acceptance speech at the

for his Adidas Yeezy Boost 350 collaboration.

So after the VMAs hullabaloo, the rapper, 38, spent time traveling with his creative director pal Virgil Abloh. The pair went to Japan, then Italy, where they spent time brainstorming designs at the Fendi headquarters. (They ended up "getting kicked out and stuff" for playing music too loud.)

In addition to fostering his passion for fashion design, West – who is expecting his second child with wife

" – also got back in the studio during his self-exile.

"I went to Hawaii and took all the creative energy that I wanted to express and we put it into an album called

," he added. "We have all these rules of what people can do in the studio, and I'm constantly concerned about what I'm wearing. But, it's hard to really get fresh in Hawaii because you can't layer up and everything."

And while West got a ton of flak after interrupting Swift's speech (they've since officially made up,

in August), he says his self-exile wasn't a gloomy time.

"We'd vistit Stockholm on the weekends. That was in my single days. It was fun. It wasn't too bad. It wasn't as miserable experience as some might think. My exile was pretty fun and stuff: 'What does Kanye do when he pissed every person off in the planet? He goes Stockholm and dances,'" West said, laughing.

Summary: After stage-crashing Swift's 2009 VMAs speech, West went into exile "to get away from paparazzi"


As one of the cover models on this year's Sports Illustrated swimsuit issue, Ronda Rousey has been making the media rounds. She got a little emotional with Ellen, but then had a more upbeat appearance with Jimmy Fallon.

Fallon asked Rousey about attending the Marine Corps Ball with Lance Corporal Jarrod Haschert. After Rousey's loss to Holly Holm in November, there was speculation that she wouldn't be able to go to the ball in December. But Rousey followed through with the date in South Carolina.

After the ball, Haschert and Rousey, a huge wings buff, hit the local Hooters. The waitress didn't recognize Rousey immediately, which opened the door to a prank:

Here was the video that Haschert posted in August to invite Rousey as his date:

Hey guys, I'm trying to take Ronda Rousey to the Marine Corps Ball this year and I need your help to reach out to her and her fans. Please share this post and video. Thank you!!

Posted by Jarrod Hash on Saturday, August 22, 2015

chicken wings, Hooters, Jimmy Fallon, MMA, Ronda Rousey, UFC

Summary: As one of the cover models on this year's Sports Illustrated swimsuit issue, Ronda Rousey has been making the media rounds. She got a little emotional...


Happy Leap Day – and Leap Year, too, of course. And if you're one of the few who happen to be born on this day, happy birthday – finally!

Leap Day is literally the rarest of dates on which anything can happen, but it's not without its merits and its not without its share of historical happenings. It's just that it gets a lot fewer of them, as a result of a cruel quirk of the Gregorian calendar. In case you've written this day off as just an extra 24 hours tacked randomly onto the shortest month, well here's a list of a few things you maybe didn't know about why it exists and why it's important.

It's not often, we'd suppose, that the rapper

gets mentioned in the same sentence as the late

. And aside from being famous people who parlayed a musical career into acting, you might not think they would have all that much in common. But they do: They're both leaplings – that is, folks born on Feb. 29, who age just like the rest of us but only get to celebrate their proper, actual birthday every four years. Ja Rule, who turns 44 this year, is only celebrating his 10th actual birthday this year. Shore, who died in 1994, would have turned 100 this Leap Day – or, a spry 25, depending on how you count.

There are not that many famous leaplings, it turns out. Aside from Ja Rule and Shore, there's

, Saves the Day frontman Chris Conley, rapper Saul Williams,

actor Peter Scanavino â¦ and

you may or may not know. (It's also the birthday of serial killers

, but perhaps the leaplings would rather not invite them to the club.)

Leaplings worldwide should check with their local government representatives to find out when they actually, legally have their birthdays in non-leap years. In the U.K., for example, people born Feb. 29 only officially age another year on March 1. In New Zealand, however, it's Feb. 28 that's taken to be the accepted birthday. The rules vary from one jurisdiction to another, but let's be honest – the average bouncer at the bar at which you're celebrating your 21st birthday is unlikely to kick you out on a technicality.

The rule of thumb for leap years is that they happen in every year that's divisible by 4 in order to make sure that our written calendar syncs up with the movement of the Earth around the sun. It actually takes slightly longer than 365 days for the Earth to make a full revolution, and consequently every four years those remainder bits add up to a full day.

However, that's not actually the case. It actually takes the Earth slightly less than 365.25 days to make a full orbit, and not every year divisible by 4 actually gets a Leap Day. The years 1700, 1800, and 1900 didn't get one – meaning that those poor leaplings had to wait

years for their proper birthday – and, in fact, only the years divisible by both 100 and 400 get one. So 2000 did (yay, leaplings!) but 2100, 2200 and 2300 won't. Only 2400 will.

, which hit theaters in 2010 and is notably not a leap year (but whatever). The film is relevant to this discussion nonetheless because it revolves around Adams' character trekking to Dublin, Ireland, to propose to her longtime boyfriend (

) in accordance with a real-life Irish tradition that says a man proposed to on Feb. 29 must say yes. Spoiler: It doesn't work, but she ends up with

's character, an Irish guy who's a better match for her in the first place.

What's especially interesting about this Leap Year, in light of the #OscarSoWhite controversy, is that it was on a Leap Day that

won the Best Supporting Actress Oscar for her role in

, making her the first black actor ever to win an Oscar. In presenting the award to McDaniel on Feb. 29, 1940, Fay Bainter appreciates the importance of the occasion, but it's McDaniel's acceptance speech that's the most moving.

"This is one of the happiest moments of my life and I want to thank each one of you who had a part in selecting me for one of their awards," McDaniel said. "I shall always hold it as a beacon for anything that I may be able to do in the future. I sincerely hope I shall always be a credit to my race and to the motion picture industry. My heart is too full to tell you just how I feel and may I say thank you and God bless you."

It was on a Leap Day that the man born Karol Jozef Wojtyla would realize his calling for the priesthood and begin his path toward the papacy. In 1944, in the midst of World War II, Wojtyla was hit by a German truck and hospitalized. During his hospitalization, he realized that the accident was divine confirmation that his inclination toward the Catholic Church was the right one.

It was Feb. 29, 2008, that Prince Harry

in Afghanistan following the news that he had been secretly fighting there since the previous Christmas. "This decision has been taken primarily on the basis that the worldwide media coverage of Prince Harry in Afghanistan could impact on the security of those who are deployed there, as well as the risks to him as an individual soldier," read a statement by the British ministry of defense. Seven years later, Harry would officially

In a major bummer for Monkees fans everywhere, the last Leap Day (Feb. 29, 2012) marked the passing of member

, who was only 66. Jones died as a result of

At only the 10th annual Grammy Awards (Feb. 29, 1968), John, Paul, George and Ringo took home their fourth and fifth Grammy Awards for

, which won both Album of the Year and Best Contemporary Album. The band would win four more Grammy awards over the years, and there has yet to be anther Grammy Awards held on a Leap Day.

Summary: Find out why Feb. 29 is a special date for Ja Rule, Hattie McDaniel and more notables


To start with, the four-seater would be capable of vertical takeoffs and landings. And since it would largely be controlled by a central computer network, the TF-X would, claims a Terrafugia promotional video, require a pilot/driver to have as little as five hours of training, a slight fraction of what it now takes to get the most basic private pilot's license.

Oh, and if that isn't appealing enough, the team says their newest flying car design would use an environmentally friendly plug-in hybrid powertrain.

Read MoreBMW, Mercedes recall hundreds of thousands of cars

Massachusetts-based Terrafugia has been drawing plenty of attention to itself thanks to the Transition, a $280,000 flying car that has been slowly working its way through the complex product development and federal regulatory process. Less than 20 feet long, it was designed to fit inside a typical suburban garage once its 27-foot wingspan was folded up, allowing it to drive on any conventional road.

"Don't think of it as a car that flies," said Carl Dietrich, one of the MIT students now serving as Terrafugia's CEO. "Think of it as a plane that drives."

Perhaps, but beyond the ability to fold up those wings, the Terrafugia would operate pretty much like any aircraft, needing a long runway to get airborne. With the TF-X, the company is moving closer to the sort of craft one might envision the sci-fi cartoon family, the Jetsons, would own.

Read More5 things to know about Google's self-driving car

For one thing, Terrafugia claims the four-seater could get airborne from a level clearing of as little as 100 feet, rotating its twin wing-mounted propeller motors to a vertical position. Airborne, they would rotate back to a conventional, forward position—much like the bigger Osprey flown by the U.S. military.

Summary: Several projects are underway and one, started by a group of Massachusetts Institute of Technology alumni, is rapidly working its way toward reality.


Timothy A. Clary | AFP | Getty Images

A view of 432 Park Avenue October 15, 2104 the day after it earned the distinction of being the country's tallest residential skyscraper.

"The New York City economy is a world-class economy. We're attracting jobs from around the world, and the building boom—we're just following the trends in the marketplace," said Will Zeckendorf.

The Zeckendorfs already had great success with 15 Central Park West, and they are modeling their new project after that, using the same architect, Robert A.M. Stern.

Read MoreHome builder confidence jumps 4 points in November

While high-end real estate in major cities like Miami, Los Angeles and New York has been fueled by international buyers who often just spend part of their time in those cities, the windows will not be dark from absentee owners at 432 Park, claims Macklowe. Both Zeckendorf and Macklowe agree the international buyer is only a small fraction of their customers and gets far more play than they deserve.

"Based on our past success, say at buildings like 15 CPW, roughly three-quarters of our buyers are domestic, 25 percent overseas, so I'm hoping one of those two groups will be buying at 520 Park Ave. next year," said Will Zeckendorf.

Zeckendorf, who also owns Halstead Property, one of New York City's premier real estate brokerage firms, said he is watching inventories closely and isn't particularly worried about all the new product coming on line.

"I like the place that the market is in today. Prices are moving upward, but calmly upward," he added.

Summary: Developers Harry Macklowe and Will Zeckendorf say there will be "no dark windows" in the luxury towers they are building in Manhattan.


05/10/2016 AT 10:00 PM EDT

, the Bonus Jonas is also a ladykiller.

is all grown up and officially going to prom! The 17-year-old sibling of

attended the Carroll Senior High School dance in Southlake, Texas on Saturday with his girlfriend Austin.

And like most regular high school students, prom was all about the photos. Frankie and Austin posted several pictures on Instagram, and no awkward prom poses were captured.

"Dabbing our way through prom," the youngest Jo bro captioned one photo.

Not only does Frankie look dapper in a suit, but the teen also knows how to woo a gal.

Dressed as Marvel sidekick Bucky Barnes, he asked his girlfriend to the dance using punny posters that were of course in keeping with the superhero theme.

"I'd be Red Scared if you didn't make me the Bucky-est man on earth by going to prom with me," it read on

Frankie's first TV role was a recurring role in the 2009 Disney Channel original series,

Summary: The Bonus Jonas is all grown up!


Thousands of telecommunications workers from Massachusetts to Virginia went on strike Wednesday at Verizon, saying they could not accept the company’s plans to transfer and outsource their jobs.

Almost 40,000 Verizon employees who work in the oldest parts of the company, installing and supporting wired telephone service, as well as the newer Fios offering walked off the job after 10 months of negotiations failed to find a compromise both sides could live with. They plan to picket outside Verizon locations across the region, including at many of the company’s popular wireless retail stores.

Although Verizon has faced several labor actions in the past, the current strike is almost as large as all of the work stoppages in the entire country last year and more than all strikes in 2014. Some 47,000 workers participated in labor stoppages in 2015 and 34,000 the year before, according to the Bureau of Labor Statistics. The largest single strike at a private company last year involved 6,600 workers at Royal Dutch Shell Oil.

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The strike involves the most workers of any work stoppage tracked by the bureau since 45,000 Verizon workers walked out for 10 days in 2011.

Verizon has been seeking a new contract that would allow it to reassign workers to a new city in another state for up to two months, increase the number of call center jobs outsourced to countries like the Philippines and Mexico, and hire more nonunion contractors. The union rejected Verizon’s offer to bring in a federal mediator.

“Union leaders have their own agenda rooted in the past and are ignoring today’s digital realities,” Marc Reed, Verizon’s chief administrative officer, said in a statement. “Calling a strike benefits no one, and brings us no closer to resolution.”

The company says it has taken steps to minimize service disruptions during the walkout, including training thousands of nonunion workers to fill in.

The employees, represented by the Communications Workers of America and the International Brotherhood of Electrical Workers, have been working without a contract since the beginning of August.

The unions said Verizon had already laid off too many workers and blasted the company for failing to meet build-out commitments in New York City and Philadelphia. “Verizon’s corporate greed isn’t just harming workers’ families, it’s hurting customers as well,” the CWA said in a statement noting inquiries by regulators in New York, New Jersey, and Pennsylvania.

Verizon’s vz stock has been among the best performers in the entire market so far this year, up 12%, though it has dropped almost 4% over the past week, in part due to concerns about the strike.

Summary: Workers also reject mandatory, two mont transfer to new cities


Just about every roll of sushi rolled in America is rolled with California rice, according to Jim Morris, a spokesman for the California Rice Commission. "That is one area to watch," he told NBC News when asked how the rice industry is being impacted by the drought.

The commission estimates that rice acreage planted this year is down 25 percent, which is about 140,000 acres. The repercussions are not yet known but could ripple through rural communities in the Sacramento Valley where rice farming is a core business. The rice fields are also prime habitat for migrating birds, so the cutback in acreage might affect birds on the Pacific flyway, Morris noted.

Read MoreCalifornia rice farmer: Drought may make us 'quit'

On the bright side, he added, California farmers have grown rice for more than 100 years and survived past droughts. "We don't know fully how the future is going to play out," he said. "We are certainly hopeful for a wet fall and winter to kind of help restore the water supply situation."

Summary: Six industries are struggling to survive the ongoing California drought, NBC News reports.


Ethan Linley, a nonverbal autistic boy, is found after being presumed dead for four years. Red (James Spader) recalls the fairy tale of Lady Ambrosia, a woman who gathers unwanted children and makes them disappear. But whoever took Ethan made his disappearance look like a drowning, which leads Liz (Megan Boone) to believe it was staged with his parents' involvement. Indeed, Ethan's parents consulted with adoption agency employee Noah Shuster, who was collaborating with the elusive Lady Ambrosia to kidnap children and discreetly kill them, promising they'll turn into butterflies.

After Liz secures his trust, Ethan draws a sketch of a well with butterflies, which eventually leads the team to Lady Ambrosia's colony, a schoolhouse in the woods. A SWAT team infiltrates the scene and rescues the kids. Glen (Clark Middleton) helps Red find former KGB member Vasilia Patinka, and Red reunites her with her daughter, Anya, who was also abducted by Lady Ambrosia. In return, Vasilia hands him the Rostova file.

Hoping to learn more about Red's interest in the case, Liz asks him about her mother. Red reveals that Liz's father took her from her mother, and on the night of the fire, her parents were fighting over her. But then she accidentally shot her father, and two months later, her mother walked into the ocean and was never seen again. Red wonders if he should've raised Liz himself, and doesn't want her experiencing the same regret over her own child. But her mind is made up about the adoption, even if Tom's (Ryan Eggold) isn't.

Meanwhile, Tom's diamond heist goes wrong when Gina (Margarita Levieva) and a couple of her cronies turn on the rest of the crew. Tom takes two gunshots to the abdomen and makes a run for it. He slips into an empty home to fix himself up, but collapses and winds up in an emergency room, his fate hanging in the balance.

Summary: While the FBI seeks a child kidnapper, Tom's bold move to secure a future for Liz goes horribly awry. SNL's Leslie Jones guest stars.


On a recent episode of ''Making of the Band II,'' MTV's latest reality series, Sean Combs, known as P. Diddy, the chief executive of Bad Boy Records, asked his employees to recap the previous day's events. Leaning back in his grand leather swivel chair, looking quite comfortable in his sprawling, well-appointed Midtown office, he was not at all braced for what he was about to hear.

''Mysterious's sister got murdered,'' said Alison Stanley, the label's product manager, who doubles as den mother for the 17 young people vying for five spots in the hip-hop group P. Diddy is creating. ''Dylan has a court date. And Jamirah took a pregnancy test last night. It's positive.''

Chock full of plot twists, Kleenex moments and scenes made for morning water-cooler conversations, ''Making of the Band II'' may be the realest of all the so-called reality shows since ''Survivor'' transformed television programming two and a half years ago, starting a genre that now largely comprises gross-out shows like ''Fear Factor'' (bull testicles, anyone?) and hookup-fests like ''The Bachelor'' and ''Blind Date.'' (Oh, look, a hot tub.) Most of the contestants on ''Making of the Band II'' come from such colorful if troubled pasts that the musical combat, pretty vivid itself, has a hard time competing with their individual stories.

''A lot of them were born into situations where they didn't get a fair chance,'' said P. Diddy, the former Puff Daddy. ''These kids didn't grow up with 'American Idol' lifestyles.''

In the show's season finale, to be shown this evening, dreams will be dashed and lives will be made. One finalist, who left the show to deal with legal problems, triumphantly returns. P. Diddy arranges a no-holds-barred battle between a cast member and a famed underground freestyler by the name of J-Mills. And another finalist, upon learning she will not be one of the five walking away with a group recording contract from Bad Boy, goes ballistic, breaking a martini glass and yelling obscenities.

''She had to spend the night in Bellevue,'' Ms. Stanley said.

Culled from tens of thousands of hopefuls who turned out for open auditions across the country in July, 17 singers, rappers and instrumentalists were chosen to live in a luxury town house on the Upper West Side of Manhattan. (Think ''Fame'' without the choreographed dance routines.) Once selected, the cast members, ranging from late teens to late 20's, were asked to memorize one of P. Diddy's favorite mantras painted on the house's mezzanine walls. ''Life is not a game,'' it reads. ''Only the fittest and most aggressive will survive. Sleeping is forbidden. A second cannot be wasted. Once seconds are lost, you lose. And losing is for losers.''

Every week contestants were sent packing. Anything was grounds for dismissal: a bad attitude, a dirty room or, most often the case, a lackluster performance.

Cast members were also required to participate in a boot camp that was heavy on back-breaking calisthenics and light on water breaks. P. Diddy, a notorious perfectionist, also pushed the show's producers hard. In an earlier episode, dissatisfied with the ''happy camp'' feel of the house -- ''these light blue walls are a problem'' -- and its general lack of ''soul,'' he ordered the place repainted in neutral colors. ''And play some Miles Davis or Mos Def,'' he suggested half-jokingly.

''The challenge in working with him is that he's uncompromising in what he's looking for,'' said Jonathan Murray, who, with Mary-Ellis Bunim, created the show (and its forefather, ''The Real World''). ''He wasn't really concerned with what we're looking for in producing a television show.''

P. Diddy said he was concerned with creating a program that felt wholly authentic, not like something cobbled together at weekly pitch meetings. In an interview he said, ''There's no passion that can rival that of a hip-hop artist, and I wanted to show that.''

Both he and MTV have benefited. He has been introduced to a plethora of new talent, which is no small thing since he has proven to be Bad Boy's sole bankable star since the rapper Mase retired three years ago to become a minister. The show is among MTV's five most popular, said Brian Graden, the channel's president for entertainment. ''It's done much better than 'Making of the Band I,' '' said Mr. Graden, referring to its predecessor (which had its premiere in March 2000 on ABC and moved to MTV last January).

The P. Diddy series, shot over a three-month period, is far more aggressive than the earlier show, which followed five bubble-gum-pop singers who became the boy band O-Town. Among the sequel's stars is Kimberly Bert, known as Mysterious, a burly young woman from Detroit with a voice more befitting a fatigued football player than a female M.C., who has spent most of her 19 years in foster care. In the middle of the series her 13-year-old sister's body was found, hacked to pieces in a neighbor's trash can. After attending the funeral, Mysterious quickly returned to the show. ''I would have been surprised if she didn't come back,'' Ms. Stanley said. ''There was much more of a support unit in New York than there was for her at home.''