Minutes after the close of Wednesday's debate, the Republican National Committee chairman leveled extraordinary criticism at the debate's host network, echoing his candidates on stage.

"I'm disappointed in the moderators. I’m disappointed in CNBC. … It was one 'gotcha' question, one personal question after another," Priebus said, in video aired afterward on CNN.

"I’m proud of our candidates for pretty much sticking together. I'm very disappointed in the moderators, and I'm very disappointed in CNBC."

Later, in a statement, he added: "CNBC should be ashamed of how this debate was handled."

The host network of the third Republican presidential debate quickly became the punching bag for Republican candidates and the national Republican Party, who both claimed the network and its moderators had unfairly treated the candidates.

A network spokesman defended its debate. "People who want to be President of the United States should be able to answer tough questions."

Real-estate magnate Donald Trump, the GOP front-runner, began the debate slamming CNBC's supposedly unfair question about his campaign's seriousness. He also ended the debate by ripping CNBC in his closing statement. Trump noted that he had successfully pushed the network into a two-hour debate timeframe, which he said was a sign of his negotiating talent.

"These folks, CNBC, they had it down to three, three and a half hours," he said. "I went out and said it's ridiculous. … In about two minutes, I renegotiated down to two hours so we could get the hell out of here. Not bad. And I will do that with the country: We will make America great again."

 

 

After the debate, Trump went to CNBC for an interview, where he said he had a good time but complained that the Democrats were tossed softballs in comparison during a CNN debate earlier in the month.

Former Florida Gov. Jeb Bush's (R) campaign manager reportedly confronted a CNBC producer about the debate. And Sen. Rand Paul's (R-Kentucky) campaign started fundraising off of the allegedly unfair debate format before the event was even over.

"Rand warned you the media would try and black out his message," Paul's campaign wrote to supporters. "And they are putting their plan into action. In the first 60 minutes of tonight's debate, he was given only 2 minutes to speak!"

Sen. Ted Cruz (R-Texas), meanwhile, delivered perhaps the biggest applause line of the night when he slammed CNBC's moderators for asking "cage match" questions.

CNBC moderator Carl Quintanilla asked Cruz about his hard-line voting record in the US Senate, questioning him about whether he was a problem-solver. But Cruz pivoted, pointing immediately to what he deemed unfair questions during the first hour of the debate.

"Let me say something at the outset: The question that have been asked so far in this debate illustrate why the American people don't trust the media," Cruz said.

"This is not a cage match. And you look at the questions: 'Donald Trump, are you a comic-book villain? Ben Carson, can you do math? John Kasich, will you insult two people over here? Marco Rubio, why don't you resign? Jeb Bush, why have your numbers fallen?' How about talking about the substantive issues."

Next up was retired neurosurgeon Ben Carson, who has surged to become a front-runner along with Trump in recent weeks.

The audience booed loudly when a moderator challenged Carson over his controversial association with Mannatech, a nutritional-supplement company based in Texas. He appeared in a promotional video and spoke at two conferences hosted by the company, whose supplements have come under fire.

"That's easy to answer. I didn't have an involvement with them. Total propaganda. I did a couple speeches for them. I did speeches for other people — they were paid speeches. It is absolutely absurd to say that I had any kind of relationship with them. Do I take the product? Yes. I think it's a good product," he said.

The moderator then pointed out that Carson was on the company's webpage. Carson said he didn't give them permission to do that.

After the audience loudly booed the follow-up question, Carson simply said: "They know."

Finally, New Jersey Gov. Chris Christie (R) entered into a discussion with Quintanilla about fantasy football, and the investigation into allegations of misconduct within the two biggest daily-fantasy sports websites.

"Carl, are we really talking about getting the government involved in fantasy football? Wait a second. We have $19 trillion in debt. We have people out of work. We have ISIS and al Qaeda attacking us. And we're talking about fantasy football!" Christie exclaimed as the audience roared in approval.

Harwood then turned to climate change and asked what Christie would do to address the problem.

"First off, what we don't do is do what Hillary Clinton and John Kerry and Barack Obama want us to do, which is their solution for everything: Put more taxes on it," Christie said.

"What should we do?" Harwood interjected.

"What we should do is to be investing in all types of energy, John," Christie continued.

Harwood jumped into the conversation again to ask who should be doing the investing. Christie then turned on the moderator.

 

 

 

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Twitter still hasn't found a way to solve its problems despite having its celebrity CEO Jack Dorsey back.

The company turned in another disappointing report about the number of users it has, and on top of that, issued a sluggish outlook. Shares of the company sank 10% after hours.

Twitter's main problem has been: People who know how to use it, love it. Everyone else doesn’t really get it.

Dorsey acknowledged the issue during Twitter's last earnings call, and promised he would try to fix it.

But on Tuesday, Twitter said it added just 3 million new core users over the past quarter, bringing the total number of monthly active core users to 307 million. If you count the number of people who use a simplified version of the service called "SMS Fast Followers," then Twitter has 320 million.

Wall Street was looking for at least 323 million users. Since taking over Twitter in July, Dorsey and his team have introduced a number of new features, but most have been minor.

On the earnings call, the update they mentioned the most was "Moments," a new tab that aggregates tweets about news stories and trending topics. "Moments represents a real fundamental shift in our thinking," Dorsey said.

The feature doesn't follow the app's normal reverse chronological timeline format. Instead, tweets are strung together based on topics and "human narrative," he said.

Twitter is also making big bets on mobile video as a way to attract new people and make money.

Video views on Twitter and its mobile video services - Periscope and Vine have surged in the past six months. Sales from the quarter actually beat expectations, climbing to $569 million, versus a forecast of $560 million. But still not enough to make investors excited.

 

 

 

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Apple's profit soars 31% on the back of strong iPhone and Mac sales

The experts said it couldn't last, but Apple just keeps finding new ways to maintain its startup-like growth. Apple's profit jumped 31% last quarter, as customers continued to buy more expensive iPhones.

The average price that Apple customers spent on iPhones was $670 last quarter, up an impressive $67 from a year ago. The iPhone 6S Plus and iPhones with more storage have remained popular, and the costlier iGadgets mean higher profit margins.

The company sold 48 million iPhones last quarter, which was 22% more than it sold during the same period a year ago. But the money Apple made from those iPhone sales grew even more -- 36% -- over last year.

Customers were also buying Macs as Sales grew 3% last quarter to 5.7 million - an all-time record.

Even Apple's mysterious "other products" category had an outstanding quarter. Sales of those gadgets, which include iPods, Apple TVs and Apple Watches, grew 61% over last year. Apple still won't say how many of each of those product lines it sells, but something is catching on: Those gadgets brought in a collective $3 billion in sales last quarter.

Apple's services, including Apple Music, the iTunes App Store and music store, and iCloud, brought in a record $5.1 billion in sales. Yet iPads continued to be a sore spot for Apple. The company sold fewer than 10 million tablets, which was 20% fewer than it sold a year earlier.

Crucially, sales in China, which is Apple's second-largest market behind North America, grew 99% -- even as the economy continued to face struggles there. China is by far Apple's fastest growing market, and the company still believes that it will one day be its biggest.

Apple's overall sales rose 22% to $51.5 billion.

And Apple ended the quarter with a stunning $206 billion in cash. Shares of Apple (AAPL, Tech30) rose slightly after hours.

Tim Cook, Apple’s CEO expects Apple to have a very happy holiday season this quarter with a record number of iPhones sales, which will beat the 74.5 million iPhones sold during the last three months of 2014.

 

 

 

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E-commerce giant Alibaba reported third quarter sales and earnings Tuesday that easily beats Wall Street's forecasts.

Alibaba's revenue surged 32% in the quarter from a year ago, led by an explosion in mobile use by Alibaba customers.

The company ended the quarter with 346 million mobile monthly active users, an increase of nearly 60% from last year. Mobile revenue was up almost 200%.

"This was a great quarter for Alibaba Group, with strong growth across the board and particular outperformance in mobile," said Alibaba CEO Daniel Zhang in a press release. "We are winning in mobile and remain focused on our top strategic priorities."

Alibaba also reported that sales in its small cloud computing business more than doubled in the quarter. Alibaba is trying to become a bigger player in this market, an area that has turned out to be incredibly lucrative for American rival Amazon (AMZN, Tech30).

Shares of Alibaba surged nearly 10% in premarket trading on the news. It's the latest sign that, after a rocky summer, the Chinese economy may be starting to stabilize a bit.

Alibaba (BABA, Tech30), like the rest of the Chinese stock market, has enjoyed a stunning comeback lately. Shares are up nearly 35% since hitting their lowest point ever on September 29.

The company also recently announced plans to purchase the remaining portion of Chinese online video site Youku Tudou (YOKU) that it didn't already own. Youku Tudou is often referred to as China's YouTube.

Investors have been concerned about Alibaba's valuation since its IPO more than a year ago and surged 38% on its first day of trading. Alibaba, which boasts a market value of $190 billion, is worth more than Walmart (WMT).

Alibaba's good news is also a blessing for Yahoo (YHOO, Tech30), which plans to sell the nearly 384 million shares of Alibaba that it owns before year's end.

 

 

 

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One year is a long time, apparently.

Just last June, Uber was valued at $18.2 billion. Soon, it could be worth $70 billion - nearly quadruple its value last summer.

The company is looking to raise another $1 billion in funding, according to PrivCo, a data provider on privately-held companies. The new round will value the company between $60 billion and $70 billion.

Uber is already the most valuable privately-held company in the world. It surpassed Chinese smartphone company Xiaomi earlier this year.

As a reminder, a valuation is based on predictions about a company's potential -- so it doesn't mean Uber has $70 billion. It means investors think it's worth that much.

If and when Uber closes the new round of financing, it will be the company's eighth round of funding since launching five years ago. If it's valued at $70 billion, that would make the five-year-old startup worth more than both Ford (F) and GM (GM).

Uber operates in more than 300 cities in 63 countries. Last week, CEO Travis Kalanick said the company is still young - so don't expect it to go public anytime soon.

"Give us a few years," he said on stage at the Wall Street Journal's tech conference in Laguna Beach. "It's just a little early."

According to PrivCo, the new round will go to maintaining Uber's lead over Lyft in the U.S. and battling the competition abroad. That includes Blablacar in Europe, Ola Cabs in India, and Didi Kuaidi -- which recently formed a partnership with Lyft -- in China.

  

 

 

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The World Health Organization is warning that processed meat like salami can cause cancer.

Love your daily hot dog or bacon sandwich? You may want to rethink that.

The World Health Organization said Monday that eating processed meat such as sausages and ham causes cancer, while unprocessed red meat may also be carcinogenic.

The WHO's cancer research unit now classifies processed meat as "carcinogenic to humans" based on evidence from hundreds of studies.

The report outlined that simply eating 50 grams of processed meat each day can increase the risk of colorectal cancer by 18%. However, the authors say the risks are relatively small to begin with.

Most processed meat contains pork or beef, but may also contain poultry. The WHO placed such products in the same category as smoking and asbestos, based on its certainty of a link with cancer, but stressed that did not mean they were equally dangerous.

Unprocessed red meat such as steak and lamb shanks is classified as "probably carcinogenic."

The WHO said the finding was important for public health since processed meat is so widely consumed. However, it said red meat still has "nutritional value."

"These results are important in enabling governments and international regulatory agencies to conduct risk assessments, in order to balance the risks and benefits of eating red meat and processed meat and to provide the best possible dietary recommendations," said Christopher Wild, head of the WHO's cancer agency, in a statement.

According to estimates cited by the WHO, about 34,000 cancer deaths per year worldwide can be attributed to diets that are high in processed meat.

However, meat industry groups slammed the WHO report as biased and misleading.

"They tortured the data to ensure a specific outcome," said Betsy Booren, vice president of scientific affairs at the North American Meat Institute.

 

 

 

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Shares in Japan Post Holdings priced at the top of their expected range Monday, one of the final puzzle pieces in what should be the world's biggest IPO of 2015.

Japan Post said high demand allowed it to price the shares at 1,400 yen ($11.57) each. The offering is part of a complex stock market debut that will see the Japanese government also sell off the postal operator's insurance and banking subsidiaries.

The combined IPO is set to bring in roughly $12 billion. Japan Post alone raised 693 billion yen ($5.7 billion), more than First Data's (FDC) listing earlier this month.

Domestic investors will be able to buy 80% of the shares while the remaining 20% are earmarked for international investors.

The banking and insurance businesses also attracted strong demand, and were also priced at the top of their expected ranges.

Japan has been trying to privatize this behemoth for roughly a decade but extreme public resistance to the move had prevented the government going ahead.

The sale is part of a wider push by the Japanese government to privatize state-owned companies and get money pulsing through the sluggish economy. Japan has the highest level of government debt in the world.

Japan Post has a high profile among residents who would recognize the red delivery vans and motorcycles that are used across the nation for postal services.

But analysts have expressed skepticism about whether it will be able to grow. It is one of the biggest companies in the world, but has been falling down the Fortune Global 500 ranking.

 

 

 

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ISIS is one of the best-funded militant groups in the world, but it could run into serious problems for the long-term if it doesn't keep seizing more territory.

Much of ISIS' money comes from extortion and pillaging, essentially ripping off the people and institutions in conquered territory, and while the group's tactics might bring it windfalls of cash every time it moves into a new city, funding operations requires a constant flow of cash.

“Confiscation makes up a huge part of ISIS revenue”, said J.M. Berger, a Brookings Institution fellow who co-wrote the recent book "ISIS: The State of Terror”. “Confiscation is different from taxation because it's not sustainable. There's only so much you can confiscate before you need to conquer new territories with new wealth.”

ISIS has took over places like Palmyra, an ancient city in Syria that the group conquered in May, for artifacts it can sell on the black market. The militants also bring in money from robbing banks. This nets the group hundreds of millions of dollars, but it's all one-time hits.

"Pillage is a central contributor for ISIS's wealth, and its dependence on strip-mining its holdings for revenue and equipment could be its biggest structural weakness, as this approach will create diminishing returns if ISIS is held to roughly its current geographic limits," Berger said.

While ISIS aims to take over more territory in the Middle East to grow its so-called Islamic caliphate, which was established after the group took control of Iraq's second-largest city, Mosul, in August 2014, the group is struggling to continue making significant gains as it fights government forces and rebel groups in Iraq and Syria.

Moreover, the Iraqi government has reportedly stopped paying the salaries of its employees who work in ISIS-controlled areas in an effort to prevent the militants from taking the money.

Furthermore, people are reportedly struggling to pay the taxes ISIS imposes on the residents of its territory. ISIS has reportedly raised the prices of everyday necessities like gas, water, and electricity, partly in an effort to drive people to become fighters for the group, whose salaries are higher than those of average citizens living under ISIS control.

This approach is a double-edged sword, as ISIS has seen some success with using money to lure in desperate people with few options, the group is struggling to meet some of the other financial obligations of a functioning government.

For example, ISIS has made promises to care for the poor in its caliphate, which it markets as an autonomous state, but the group largely hasn't been able to deliver.

In conclusion, ISIS will have to conquer more territories and more cities in order to keep a flowing income. If it fails to do so, its money will start to diminish as time goes by.  

  

 

 

 

 

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Google's new parent company Alphabet is off to an amazing start.

Alphabet posted a shockingly good profit and better-than-expected sales in the third quarter, sending the stock up 10% to an all-time high.

The company's sales rose 13% and profit grew a whopping 45% in the past quarter. Particularly encouraging for Alphabet is the fact that much of the growth is coming from mobile search. This was once a big question mark for Google as advertisers refused to pay the same rates for unproven mobile search ads as they did for tried-and-true desktop advertisements.

Google also called out YouTube for having an impressive past quarter.

"Our ... results show the strength of Google's business, particularly in mobile search," said Ruth Porat, Alphabet's chief financial officer, in a prepared statement. "With six products now having more than 1 billion users globally, we're excited about the opportunities ahead of Google, and across Alphabet."

Also helping Alphabet's stock: The Company announced it was buying back $5 billion worth of its own stock. Investors love when companies do that, because it raises the value of their own holdings.

Porat, a former Wall Street rock star, was brought in earlier this year to make the company more efficient and transparent. She helped lead the company's restructuring to become Alphabet, in which Google spun out its exotic projects like driverless cars and anti-aging research into separate companies. Alphabet (GOOGL, Tech30) is now the parent company of all of those smaller companies, one of which is Google.

Google officially took on its Alphabet structure on Oct. 2, the first day of Google's current fiscal quarter. That means we won't get a first glimpse at how well each of the various Alphabet entities is performing until Alphabet reports its fourth-quarter financial results in January.

 

 

 

 

 

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YouTube will begin selling $9.99-a-month subscriptions that will allow U.S. customers to watch almost everything without ads, to download videos for viewing offline and to keep content playing on a smartphone or tablet even when using a different app.

But those widely requested features aren't all that subscribers will get. The service, called YouTube Red, offers access to highly produced original shows and movies that can't be found anywhere else. Google Play streaming music will be included too.

YouTube Red is intended to turn the enormously popular Google-owned company into a profit maker, not a money loser.

Ad revenue isn't enough to meet the enormous expenses of serving billions of videos every day — even when most videos are supplied by users for free. YouTube could generate nearly $950 million annually in new revenue if just 5% of U.S. users signed up for the subscription, UBS analysts estimate.

Red marks the beginning of "a long journey," according to YouTube.

Matthew Glotzbach, the company's vice president of product management, said, "By no means would we expect to jump to tens or hundreds of millions of paying users overnight," but there should be "strong demand" from the start.

Financial analysts who follow Alphabet Inc., Google's parent company, say YouTube could become a major profit engine. But rivals, including Facebook, Snapchat and Vimeo, are threatening its potential by stealing away both video makers and viewing time.

Growth of YouTube's net ad revenue in the U.S. is expected to slow rapidly over the next three years, the market research company EMarketer said in August. According to EMarketer's calculations, worldwide net revenue will be $4.3 billion in 2015, up 41% from last year.

Yet to be determined is how the subscription model will affect an expanding generation of YouTube stars, many of whom began by filming videos in their bedrooms and elsewhere, cracking jokes, dancing and talking to the camera about everything from fashion to video games. They uploaded the videos to YouTube, attracting advertising sponsors, and, in a few cases, becoming millionaires in the process.

YouTube often places several ads on the same page as a video, and attracting millions of viewers has meant steady, growing income for video makers, who get 55% of ad revenue.

It's unclear how the commercial-free subscription will affect ad income, though YouTube Chief Business Officer Robert Kyncl said the "vast majority" of YouTube's subscription revenue will go to the YouTube Red content creators. Certainly, some creators will lose out on money from heavy viewers who might encounter lots of ads or be willing to pay more than $10 a month for a subscription.

With Red, YouTube also plans to create a new, subscriber-only slate of original shows and movies for its most popular video stars. The selected creators will be gambling that slicker content will broaden their viewership and fatten their paychecks.

 

 

 

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