Day: May 20, 2017

13-1 Shot Cloud Computing Pulls Off Preakness Upset

Cloud Computing ran down Classic Empire in the final strides Saturday to win the Preakness Stakes by a head.

The 13-1 long shot was one of five fresh horses in the Preakness that didn’t run two weeks ago in the Kentucky Derby.

Derby winner Always Dreaming and Classic Empire dueled for most of the race before Classic Empire stuck his nose in front midway on the far turn. It looked as if Classic Empire would go on to win, but Cloud Computing ran him down on the outside.

Always Dreaming faded to eighth in the 10-horse field on a cool and cloudy day at Pimlico Race Course. A record crowd of 140,327 was on hand.

Ridden by Javier Castellano, Cloud Computing ran 1-3/16 miles in 1:55.98 and paid $28.80, $8.60 and $6. It was just the dark brown colt’s second career victory.

Classic Empire returned $4.40 and $4, and 31-1 shot Senior Investment was another 4-3/4 lengths back in third and paid $10.20.

Lookin At Lee, the Derby runner-up, was fourth. Gunnevera was fifth, followed by Multiplier and Conquest Mo Money. Hence was ninth and Term of Art last.

Trainer Chad Brown earned his first victory in a Triple Crown race. Castellano won for the second time. He rode Bernardini to victory in the 2006 Preakness.

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Softbank-Saudi Tech Fund Becomes World’s Biggest With $93B of Capital

The world’s largest private equity fund, backed by Japan’s Softbank Group and Saudi Arabia’s main sovereign wealth fund, said Saturday that it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics.

“The next stage of the Information Revolution is under way, and building the businesses that will make this possible will require unprecedented large-scale, long-term investment,” the Softbank Vision Fund said in a statement.

Japanese billionaire Masayoshi Son, chairman of Softbank, a telecommunications and tech investment group, revealed plans for the fund last October, and since then it has obtained commitments from some of the world’s most deep-pocketed investors.

In addition to Softbank and Saudi Arabia’s Public Investment Fund, the new fund’s investors include Abu Dhabi’s Mubadala Investment, which has committed $15 billion, Apple Inc., Qualcomm, Taiwan’s Foxconn Technology and Japan’s Sharp Corp.

The new fund made its announcement during the visit of President Donald Trump to Riyadh and the signing of tens of billions of dollars’ worth of business deals between U.S. and Saudi companies. Son was also in Riyadh on Saturday.

After meeting with Trump last December, Son pledged $50 billion of investment in the United States that would create 50,000 jobs, a promise Trump claimed was a direct result of his election win.

Saudi tech access

The fund may also serve the interests of Saudi Arabia by helping Riyadh obtain access to foreign technology. Low oil prices have severely damaged the Saudi economy, and policymakers are trying to diversify into new industries.

The PIF signaled an interest in the tech sector last year by investing $3.5 billion in U.S. ride-hailing firm Uber.

Saturday’s statement did not say how much the PIF had committed to the fund, but previously it had said it would invest up to $45 billion over five years. Softbank is investing $28 billion.

The new fund said it would seek to buy minority and majority interests in both private and public companies, from emerging businesses to established, multibillion-dollar firms. It expects to obtain preferred access to long-term investment opportunities worth $100 million or more.

Other sectors in which the fund may invest include mobile computing, communications infrastructure, computational biology, consumer internet businesses and financial technology. The fund aims for $100 billion of committed capital and expects to complete its money-raising in six months, it added.

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Pippa Middleton Marries Millionaire Hedge Fund Manager

Pippa Middleton, the younger sister of Catherine, the Duchess of Cambridge, married millionaire hedge fund manager James Matthews on Saturday in Englefield, England.

Prince William and Prince Harry were on hand for the lavish ceremony at a 12th century church in rural England. The wedding party also included William’s children, Prince George and Princess Charlotte.

Middleton was accompanied by her father as they arrived at the church in a vintage convertible. A large number of reporters and on-lookers gathered outside the church grounds, braving sporadic rain to catch a glimpse of the spectacle.

The ceremony was to be followed by a private reception at Middleton’s parents’ estate nearby.

 

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Iconic American Circus Performs Last Show on Sunday

An American institution, the Ringling Brothers and Barnum & Bailey Circus, promoted as “The Greatest Show on Earth,” is closing Sunday after 146 years.

“After a lot of discussion, my family decided that with the decline in ticket sales, it was just the right business decision to close Ringling Brothers,” said Alana Feld, the executive vice president at Feld Entertainment, the owner of the iconic circus.

Elephants and ticket sales

Company officials cited decreasing sales after the circus ended its popular display of elephants for the closure, as well as changing entertainment tastes, high operating costs and prolonged battles with animal rights groups over using animals in the show.

Feld said the elephants have been moved to an elephant conservation center in Florida while the other animals have found new homes, some with the presenters they have been working with for years.

Ringmaster Johnathan Lee Iverson said that when the announcement came out in January that the circus would soon be closing, “all I thought about was the fans.

“I thought about future generations, that really they don’t have this type of entertainment that is this pure and this intriguing and with this high level of artistry. There’s nothing out there [like this],” he said.

The circus has been a staple outing for families for much of the 20th century. The show traveled each year to cities across the country to display exotic animals, flashy costumes and high-flying acrobats.

Entertainment tastes change

Company officials say that in the past two decades youths have become more interested in movies, television, internet games and cell phone texting with friends.

Comedic clown Davis Vassallo said it was “a dream to be part of this show, the greatest show on Earth.

“I cannot even describe how happy it was for me to be part of [this show] and I’m sad of course to wake up from this amazing dream,” he said.

Animal rights groups have long been protesting the use of animals in the circus and welcomed the company’s decision earlier this year to close the show.

Ringling’s last traveling circus will perform Sunday in Uniondale, New York.

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Virtual Avatar Could Be Your Doctor

One day instead of visiting a doctor in person for health information or searching online, you could be asking for advice from a medical expert’s avatar. A new app is being developed that can be used on a smartphone to ask a virtual doctor about various medical conditions and their treatments. VOA’s Deborah Block has more on this innovative technology.

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Job Prospects for 2017 College Grads, Best in More Than a Decade

About 3 million Americans will enter the job pool this year as graduation ceremonies get underway at various colleges and universities across the United States. With unemployment at a 10-year low, 2017 is shaping up to be a good year for new grads. But as Mil Arcega reports, success for many will depend on a desire to keep learning and a willingness to go where the jobs are.

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