TIME Apple

Apple Is Now the World’s Second-Biggest Wearables Maker

Apple Watches on display in Madrid, Spain on June 26, 2015.
Pablo Cuadra—Getty Images Apple Watches on display in Madrid, Spain on June 26, 2015.

It's catching up on Fitbit

The term “wearables”—as in wearable technology, the next evolution of mobile electronics—has been on the lips of technologists for some time. It’s supposed to be the future—an $80 billion market, some estimate.

The potential of this nascent market has been rather hard to quantify. (So has the definition. Smart watches? Sure. Glasses? Perhaps. “Hearables“? Sure. Clothing? Well…) But a new IDC report shows that a trend line is emerging.

According to the market researcher, the worldwide wearables market grew 223.2% in the second quarter of 2015, as measured by total shipment volume across all vendors. (That figure: 18.1 million units, up from 5.6 million unit in Q2 2014.)

Bigger news: Apple is now the number-two vendor behind Fitbit.

The Cupertino, Calif.-based company shipped 3.6 million units in the second quarter of 2015, “just 0.8 million units behind Fitbit’s 4.4 million units.” Apple has been mum on its Apple Watch sales, so this is rather interesting. (And squares with what Best Buy CEO Hubert Joly said during the retailer’s latest earnings call.)

To give you a sense of Apple’s impact on the category, consider that two of every three “smart wearables,” in IDC parlance, shipped this quarter were Apple Watches. That’s both affirming for Apple, which has a lot riding on its latest major device, and Fitbit, which has managed to beat back Cupertino’s competition despite only selling wearable devices with more basic functionality.

IDC believes Apple will eventually be the wearables market leader. That’s not a surprise, though the dark horse in all this is Samsung, which has demonstrated in smartphones that a quick follow can be just as competitive as a category-defining product. (Even though, it should be noted, Samsung has been selling such devices for far longer than Apple. Lenovo-owned Motorola, too.)

The breakdown:

1.) Fitbit. 4.4 million units shipped in 2Q15. 24.3% global market share. Up 159% from the same quarter a year ago.

2.) Apple. 3.6 million units shipped in 2Q15. 19.9% global market share. No YoY growth figures available because it wasn’t selling wearables a year ago.

3.) Xiaomi. 3.1 million units shipped in 2Q15. 17.1% global market share. No YoY growth figures available because it wasn’t selling wearables a year ago.

4.) Garmin. 700,000 units shipped in 2Q15. 3.9% global market share. Up 40% from the same quarter a year ago.

5.) Samsung. 600,000 units shipped in 2Q15. 3.3% global market share. Up 119% from the same quarter a year ago.

One catch to all this? Another recent report from Argus Insights suggests that consumer interest is slowing for wearables, sliding precipitously from the 2014 holiday season. A seasonal cycle like other consumer electronics, unhappiness with the products on the market, or something deeper? We’ll find out.

This article originally appeared on Fortune.com

TIME Ashley Madison

There Are Almost No Active Female Users on Ashley Madison


Most appear to be bots, fakes, or inactive accounts, a report says

The large disparity in the number of male and female accounts on the adultery website Ashley Madison is well-documented. But an analysis by Gizmodo of the massive data dump released by people who allegedly hacked the company’s website shows the number of active female users is absolutely miniscule.

Ashley Madison has about 31 million male accounts and 5.5 million female accounts. But the overwhelming majority of those female accounts appear to be bots, fakes, or inactive accounts that were hardly used in the first place, the report says. Gizmodo found that only about 1,500 of the female users had ever checked their messages on the site, while only 2,400 had ever chatted on the site, and only 9,700 had ever replied to a message.

Hackers first threatened to release personal information about Ashley Madison users in July, and then proceeded with a massive data dump earlier this month. Ashley Madison is now facing several lawsuits from several former users who say the website knew about the security vulnerabilities in its systems.

TIME Tesla

This Tesla Car Just Scored Consumer Reports’ Highest-ever Rating

Inside The 2015 North American International Auto Show (NAIAS)
Bloomberg—Bloomberg via Getty Images A Tesla Model S P85D.

103 out of 100 ain’t bad

Tesla’s new car is so good that it’s literally off the charts.

The company’s Model S P85D scored a 103 out of 100 from Consumer Reports, the highest score ever given to a vehicle by the publication.

“This is a car that set new benchmarks, and we had to make changes to our scoring to account for it,” Consumer Reports said in a video. The final, official score for the car was 100 out of 100.

The magazine touted the new Model S’s safety features, over-the-air updates and fuel efficiency in its extremely positive review. The standout feature of the P85D version, though, is the new “Insane Mode,” which lets the car accelerate from 0 to 60 miles per hour in 3.5 seconds, making it the fastest vehicle Consumer Reports has ever tested.

Creating a car that’s the best of the best comes at a high cost, though. At a retail price of nearly $128,000, the Model S P85D is also the most expensive car Consumer Reports has ever reviewed.

TIME Amazon

Why Amazon Is Laying Off Dozens of Its Engineers

It’s the first time Amazon has cut employees at its Lab126, a report says

Many of the engineers behind Amazon’s failed Fire phone are getting the boot, according to The Wall Street Journal.

The online retail giant is cutting dozens of employees from Lab126, the hardware outfit that develops products such as the Fire phone, the Kindle, and Amazon’s Echo, the paper said.

This is the first time Amazon has ever laid off employees from Lab126, sources told the Journal. Some projects in the works, such as a large-screen tablet, have also been scuttled as part of a restructuring process. Amazon is reportedly still working on a high-end kitchen computer code-named Kabinet that would serve as a hub for the smart home of the future.

Amazon declined to comment to the Journal, and did not immediately return a request for comment from TIME and Fortune.

Amazon’s Fire phone was supposed to take on the iPhone and high-end Android handsets head-on, but the device failed to find mass appeal. Amazon took a $170 million write down on unsold Fire phone inventory last fall.


This Retailer Is the Latest to End On-call Scheduling

Passers-by walk next to a Gap store in Broomfield, Colorado
© Rick Wilking / Reuters—REUTERS A Gap store.

It can wreak havoc on workers' lives, and continues to come under fire

In a blog post late Wednesday, retailer Gap announced that it would end on-call scheduling for store employees across its five brands—Athleta, Banana Republic, Gap, Intermix, and Old Navy.

Andi Owen, Global President for Banana Republic, wrote in the post that the company’s efforts to phase out on-call scheduling—in which employees are required to be ready to work a shift, but may have their hours cancelled because of customer demand—began this summer and that all of its stores will eliminate the practice by the end of September 2015.

“Additionally, each of our brands has committed to improving their scheduling policies to provide their store employees with at least 10 to 14 days notice. The majority of brands will be rolling out these new policies in September, and all Gap Inc. brands are committed to phasing in advanced schedules by early 2016,” Owen wrote.

The announcement comes more than a year after the retailer announced it was raising all starting wages for retail associates to $10 per hour, a decision that was later praised by President Barack Obama.

It’s also the latest effort by a retailer to cut down on the erratic scheduling that can wreak havoc on workers’ professional and personal lives. According to Bureau of Labor Statistics data, 47% of part-time hourly workers ages 26 to 32 receive a week or less of advance notice for their schedule. In April, New York State Attorney General Eric Schneiderman took aim at on-call scheduling, by requesting detailed staffing information from 13 big retail chains, including Target, Ann Taylor, Gap, J.C. Penney, and Abercrombie & Fitch.

The practice “really blocks the day out for a worker,” Schneiderman said at the time. “They can’t schedule another job; they can’t schedule child care. This is something that we have to deal with. It’s a growing problem.”

Since then a number of retailers have done away with on-call scheduling, including Victoria’s Secret and Abercrombie & Fitch. The issue has also gotten attention nationwide. In November, San Francisco passed the first-even retail workers’ “bill of rights,” which gives store employees more predictable schedules and access to extra hours.

TIME Careers & Workplace

3-Step Formula for Making Small Talk (Without Awkward Silences)

Getty Images

Start by sharing something about yourself

The Muse logo

Coming from someone who just graduated from business school, it may seem strange to focus on the skill of small talk. Next to more formal business skills, such as networking and building an elevator pitch, chitchat just doesn’t seem like it should be a top priority. I’ve learned, however, that being a good small talker is absolutely vital to your professional success.

Regardless of your role, you will surely find yourself in professional situations where you have to make conversation with someone you don’t know well (or at all), whether it’s a co-worker, senior manager, client, or new networking contact. As you jump into that initial conversation, it’s important that you’re able to make a quick connection, so you can move toward building a more substantial relationship.

For some, small talk comes naturally—but for others (including myself!), it can be pretty tricky. I get especially nervous when I’m talking to someone senior at my organization, because I want to make a good impression without coming across as boring. How do you hold a conversation with someone you barely know without resorting to commenting on the weather?

In my experience, the best way to deal with this common situation is to have a couple of pre-planned ideas of things to say—that way, you never have to worry about freezing up. Here is the simple, three-step method I use.

1. Briefly Reveal Something About Yourself

Don’t go silent after you shake hands and introduce yourself—continue by volunteering something about yourself. It doesn’t have to be anything revolutionary; often I’ll simply comment on what brought me to the situation (e.g., “I’m here because I’ll be working on the operations phase of this project—I’m really excited to kick things off during this meeting”).

I’ve found that this helps put others at ease because it gives them some context for who I am. It also establishes a pattern of discussion that involves both parties talking, instead of a conversation that is completely reliant on me asking the other person questions.

2. Ask an Open-Ended Question That’s Fairly Easy to Answer

Asking the right question means that the other person won’t have to work too hard to engage, but also won’t be able to get away with a simple yes-or-no answer that will stop the conversation cold.

For example, if you’re waiting for a meeting to start, you could ask how he or she got involved in the project that is going to be discussed. Or, if you’d rather expand the conversation beyond work-related topics, you could go for a more fun, personal question—I often ask if the person has any interesting trips planned.

3. Direct the Conversation to Current Events

If it feels like your small talk has devolved into a Q&A, feel free to move the conversation away from professional topics and talk about what’s going on in the world. Of course, the advice that it’s best to avoid conversations about religion and politics still holds true, but if you’re the one to pick the topic, then you’ll be able to direct the discussion appropriately.

I try to stick to well-known topics, such as news about local sports teams or recent events covered in a daily digest (try Daily PNut, The Week, or theSkimm), so that it’s more likely the other person will have also something to say on the subject. That way, the conversation can progress much more naturally.

Keep this method in mind, and the next time you find yourself standing next to an SVP in the coffee line, you’ll be able to make a confident, intelligent impression—without any mention of the weather.

This post is in partnership with The Muse. The article above was originally published on The Muse

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TIME Companies

Somebody in China Has Set Up a Fake Goldman Sachs and Is Doing Business

U.S. Stocks Fall From Record as Microsoft, Google Miss on Profit
Scott Eells—Bloomberg via Getty Images The Goldman Sachs Co. logo is displayed at the company's booth on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on July 19, 2013

Because China

China has been known for ripping off designer goods, iPhones and even public sculpture. Now, financial companies can start worrying about having a Chinese counterfeit too.

American multinational financial giant Goldman Sachs Group Inc. appears to share an English name with Goldman Sachs (Shenzhen) Financial Leasing Co., a financial services company based in the southern Chinese city of Shenzhen. The company also uses the same Chinese moniker (Gao Sheng) as the American one, and even has a similar font for its logo, according to Bloomberg.

A spokeswoman for the American Goldman Sachs, Connie Ling, told Bloomberg that there is no connection between the two companies. A secretary at the Shenzhen company told Bloomberg that no one had ever inquired with her about the similarities.

Name-poaching isn’t the only controversy the company has encountered — it has also been accused of dabbling in money-laundering.

The company first came to light when a U.S. casino workers’ union sent a letter to the Chinese government complaining that the Shenzhen company was linked to the notorious gaming figure Cheung Chi-tai. Chinese prosecutors allege that Cheung in turn has links to organized crime and he is awaiting trial, Bloomberg says.


TIME Markets

Asian Stocks Rise After Wall Street Rebound

Asia stock market
Kevin Frayer—Getty Images A Chinese day trader reacts as he watches a stock ticker at a local brokerage house in Beijing, on Aug. 27, 2015.

Analysts said there are probably more roller-coaster days ahead

(BEIJING) — China’s key stock market index surged 5.3 percent Thursday, its biggest gain in eight weeks, as markets across Asia rose following Wall Street’s rebound, giving investors some relief after gut-wrenching global losses.

The Shanghai Composite Index, whose steep drop in recent days triggered worldwide selling, gained 5.3 percent to close at 3,083.59 points, bouncing back from losses that wiped some 20 percent off its value over the past week. It was the biggest one-day gain since a 5.5 percent rise on June 30.

Elsewhere in Asia, Hong Kong’s Hang Seng rose 2.9 percent to 21,697.31 and Tokyo’s Nikkei 225 added 1.1 percent to 18,574.44. Sydney’s S&P ASX 200 advanced 1.2 percent to 5,233.30 and Seoul’s Kospi gained 0.7 percent to 1,908.00. Markets in Singapore, Bangkok, New Zealand and Jakarta also rose.

European markets also advanced in early trading. France’s CAC-40 added 2.1 percent to 4,597.36 and Germany’s DAX gained 2.4 percent to 10,240.92.

The gains came after Wall Street rocketed up overnight. The Dow Jones industrial average soaring more than 600 points, or 4 percent. That was its third-biggest point gain of all time and its largest since Oct. 28, 2008.

Traders were encouraged by comments from William Dudley, president of the New York Federal Reserve Bank, that the case for a U.S. interest rate hike in September is “less compelling to me than it was a few weeks ago,” given China’s troubles, falling oil prices and weakness in emerging markets.

“Traders took the cue to buy,” said Nicholas Teo of CMC Markets in a report.

Following a six-year run-up in U.S. stocks that has pushed major indexes to all-time highs, investors worry the economy could falter if the Fed raises rates too soon.

U.S. markets looked set for more gains, with futures for the Dow Jones and S&P both up 0.4 percent.

In currency markets, the dollar rose to 120.2220 yen from Wednesday’s 120.1440 yen. The euro edged down to $1.1327 from the previous session’s $1.1337.

Benchmark U.S. crude gained 92 cents to $39.53 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 71 cents on Wednesday to close at $38.60. Brent crude, used to price international oils, rose $1 to $44.14 in London after losing 7 cents the previous day to close at $44.14.

TIME Money

What 11 Successful People Wish They Knew About Money in Their 20s

TIME.com stock photos Money Dollar Bills
Elizabeth Renstrom for TIME

Learn to manage the money you have now, no matter how little

Even the wealthiest, most successful people are prone to making money mistakes.

Billionaire and investor Mark Cuban misused his credit cards at a young age, while personal finance guru Suze Orman once found herself deep in debt after overspending on fancy clothes and cars.

We asked several successful people what money advice they wish they had been given in their 20s and drew insight from LinkedIn’s “If I Were 22” series, in which top minds share what they wish they had known at 22.

Here’s what they had to say:

Learn to manage your credit cards.

Mark Cuban, billionaire entrepreneur, investor:

“That credit cards are the worst investment that you can make. That the money I save on interest by not having debt is better than any return I could possibly get by investing that money in the stock market. I thought I would be a stock-market genius. Until I wasn’t.

“I should have paid off my cards every 30 days.”

Skills are worth more than a job.

Tim Ferriss, angel investor, best-selling author of “The 4-Hour Workweek“:

“In your 20s, optimize for learning, not earning. Work directly under or with master dealmakers and acquire skills. This is particularly true for negotiating and hard skills, like coding.

“What would you rather have: $20,000 more per year in your 20s, leading to making $100,000 to $200,000 a year in your 30s, or a lower-paying job from 20 to 25 — but one like a real-world MBA you’re paid for — leading to making millions in your 30s?

“It often comes down to prioritizing skill acquisition over immediate, post-college earning. McKinsey or Goldman can be seductive, but it’s easy to get trapped in a 20-plus-year path of paying for a bloated lifestyle that is always a bit more expensive than the year before. Serfs can become self-made kings, but consultants tend to remain consultants. The only true job security is a superior skill set.”

You need a plan for your money.

Alexa von Tobel, founder and CEO of LearnVest.com, author of “Financially Fearless“:

“Not having a financial plan is a plan — just a really bad one! Given what I see as a general lack of personal-finance education, it can be all too easy to wing it with your money.

“I was lucky enough to learn this lesson while still in my 20s, so I had time to put a financial plan into place for myself — and start LearnVest to help people nationwide do the same!”

Do something you love instead of chasing money.

Blake Mycoskie, founder, chief shoe giver of TOMS:

“In my 20s I wish I knew that the best advice for any person is to follow their passion as opposed to chasing money. I’ve seen time and time again that the people who foster their true passions and true callings are the ones that end up the most successful.

“It’s hard in your 20s not to worry about money, but to focus on making sure you do something you love. Today, I feel like every time I’ve made a decision at TOMS that I’m passionate about and improves someone’s life, the company grows and makes more money.”

Buy high quality.

Kate White, former editor-in-chief of Cosmopolitan, author of “I Shouldn’t Be Telling You This“:

“I was a great saver in my 20s — my dad had persuaded me to save for retirement, which seemed insane at the time, but I’m eternally grateful. But what I didn’t know and wish I had is that it’s so much smarter to buy a few great quality items — in terms of clothes, furniture, accessories — rather than a bunch of cheaper stuff.

“Oh, sometimes you get a great bargain — I have two Pier 1 prints hanging in my living room that look like antiques but cost $25 — but so often cheap stuff is poorly made and falls apart in no time.

“But the right quality goods last forever and are often timeless in design, something I discovered much later when I could afford better things. I wore a Prada dress the other night that I bought 16 years ago and it still looks good. If you can swing it, go for quality and you’ll save in the long run.”

Understand the power of investing.

Kevin Cleary, CEO, Clif Bar & Company:

“In my 20s, I wish I better understood the power of investing. At the time, I had fewer expenses, more free time, and a long investment horizon — it would have been the perfect time to learn about investing.

“While I was disciplined about saving money, I missed the opportunity to leverage my money over the long haul.”

Your company is more important than your role.

Adam Nash, president and CEO of Wealthfront:

“I was fairly fortunate to have been raised with a strong sense of the importance of saving and living below your means.

“However, it wasn’t until later that I learned just how much of your long-term economic success depends on your professional career.

“I’m a huge believer that people in their 20s should seek out opportunities at later-stage, hypergrowth companies. When you think long term, the company you join is far more important in your 20s than the specific compensation or role.”

Money doesn’t make you happy.

Matt Maloney, CEO, GrubHub:

“Money does not define success or happiness. In fact, if you are truly effective at what you enjoy, money usually follows your passion. Passion drives interest, which in turn drives focus and commitment. Both qualities are requirements for success.

“When given a choice between ambiguous paths, choose the course that will bring you the most emotional and intellectual satisfaction — not the most direct path to riches. Don’t be afraid, you can live a very full life earning far less than you think you need.”

Learn to manage the money you have now, no matter how little.

Debbi Fields, founder, Mrs. Fields:

“Looking back now, I know that I would have greatly benefited had I initiated an investment strategy as a young adult. I was so busy trying to save every dollar and living paycheck to paycheck that the idea of wealth creation was never really a consideration.

“Not thinking bigger than my bank account was my error — I could have set up a simulated investment account, joined a club, or learned about the buying and selling of securities.

“The key to managing money and building a nest egg is learning how to manage small amounts and grow them wisely over time. It can start with pocket change and grow beyond anything you imagined! The key word here is imagined … You have to add a zero or two to your net worth and direct your attitude and financial strategy toward getting there.”

Spending money to impress other people is a bad idea.

Suze Orman, author, television host, motivational speaker:

“When you are starting out in your 20s, it is natural to think about all that you will have and do once you start making money, and making more money. That gives money way too much power over your life. It’s not about how much you make, but the life that you make with the money you have,” she writes for LinkedIn’s “If I Were 22” series.

“I built a successful financial-planning practice and was making more in a month than I used to make in a year. But here was the problem: The more money I made, the more I wanted other people to see how great I was doing, financially speaking.

“I spent so much money — on fancy cars, watches and clothes simply to impress other people — that I got myself heavily into debt. If I were a guest on my CNBC show today, I would have given myself one serious smackdown.

“My finances were a mess, but more importantly, my money was a mess because I was a mess. I had it all wrong — all the things I was spending my money on added nothing to my self-worth.”

Chasing money will cripple your career.

Marc Lore, founder and CEO, Jet.com:

“In banking, the core motivational driver was personal financial gain, cultivating a fiercely competitive environment,” he writes in LinkedIn’s “If I Were 22” editorial package.

“Over my six years in finance, I learned to approach my career as an individual sport, where I was judged by the size of my bonus and how quickly I was promoted. One morning I fell to the floor of my office, feeling an electric jolt in my chest as a result of stress. Although it was not a heart attack, the message was clear. I had worked incredibly hard to get to the top but I was there alone — and it was un-fulfilling.

“At 22, I evaluated my first job based on what I could get out of it. But I have since learned that you can achieve much greater success if you focus on what you can give. Ultimately, I have realized that success is not a measure of your salary, title, or degree, but the impact you have others and the collective happiness of the people you touch.”

This article originally appeared on Business Insider

More from Business Insider:

Read next: 5 Dumb Ways You’re Wasting Money Without Realizing It

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MONEY Food & Drink

You Could be Entitled to a $25 Check — or $50 in Tuna

Starkist Canned Tuna Class Action Lawsuit
Boyle, Tim—Getty Images

Starkist is on the hook for under-filling cans of tuna.

If you come across a headline about class-action lawsuit over tuna, the first thought you might have is Oh no, what was I eating if it wasn’t tuna?

But you can relax. Filed two-and-a-half years ago, the suit was launched when one consumer noticed five-ounce cans of Starkist were slightly under-filled. While the short-changing wasn’t noticeable to most people, it saved the company a ton of fish (and money). However, the fishy practice has backfired.

Consumerist reports that the case has just been settled. If you’re a resident of the U.S. who bought Starkist Chunk Lite Tuna or Solid White tuna (either in oil or water) between Feb. 19, 2009, and Oct. 31, 2014, you’re entitled to a payout of $25 cash — or $50 in tuna if you prefer. Consumers can get the payout even if they don’t have receipts, which surely very few people have at this point.

The news comes on the heels of accusations of colluding to fix prices among tuna brands, rounding out a very poor month for Starkist.

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