Financial News 8/13/12 – Google Joins Copyright Police, Navy Ship Collides with Oil Tanker


Financial News 8/13/12 – Google Joins Copyright Police, Navy Ship Collides with Oil Tanker

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    As the popular search engine, Google, makes moves to keep up with
    other media distribution companies, like Apple and Amazon, through its
    Youtube video site, Google Play media purchasing store and deals with
    Pay-TV services, the company has decided to crack down on sites who
    have failed to comply with copyright infringement rules. Ina post on
    their official blog, google divulged that their search engine ranking
    algorithms would now factor in valid copyright removal notices,
    flagging sites who are guilty of improperly posting copyrighted
    material. Those sites would then be moved lower in Google’s search
    results, ultimately hindering the number of views. Google stated that
    it now receives more than 1 million copyright complaints from search
    results per week, and plans to take the matter seriously. This move
    has been long awaited by many major media companies who have accused
    Google of enabling music and media piracy, and in turn have aided in
    the reduction of their content’s value. The Recording Industry
    Association of America and The Motion Picture Association of America
    are among those who publicly support and will be closely monitoring
    Google’s intended changes.

    As tensions continue to build in the Strait of Hormuz, a U.S. Navy
    destroyer collided with an oil tanker early yesterday morning. The
    collision left the Navy destroyer, USS Porter, with a 10 foot by 10
    foot hole in its side. As you can imagine there will be a lengthy
    investigation into the cause of the accident that fortunately left
    both crews unharmed. The tension in the Strait of Hormuz has built
    significantly in recent months as Iran has made repeated threats to
    stop oil traffic as revenge for sanctions that aim to stop them from
    continuing their uranium enrichment program. More than one fifth of
    the world’s oil is transported through the strait each year and Iran’s
    threats have been taken serious enough in the past to cause a rise in
    oil prices.

    The Olympics came to an end yesterday after 16 days of heated
    competition amongst 205 of the world’s nations. At the end, medals
    were awarded in 302 events and 85 countries earned at least one medal.
    The United States led the final total medal count with 104 medals and
    China came in second with a total of 87 medals. The host nation of
    Great Britain took home the fourth most medals with a total of 65. In
    addition to bringing home the most medals, the U.S. also led the medal
    count in Gold and Silver medals won.

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