THE NEWS WRAP: Silk Road founder Ulbricht convicted of drug trafficking, faces possible life sentence

Ross Ulbricht, the founder of black market website The Silk Road, has been found guilty of drug trafficking, criminal enterprise, aiding and abetting the distribution of drugs over the internet, computer hacking, and money laundering, the Guardian reports.


He faces a possible life sentence in prison.


Ulbricht was arrested in San Francisco in October 2013 and charged with being “Dread Pirate Roberts” one of the creators of The Silk Road.

Microsoft acquires Sunrise for $100 million

Software giant Microsoft has acquired calendar app maker Sunrise, sources have told TechCrunch.


Sunrise offers a suite of calendar products for mobile and desktop that connects with and consolidates calendars from different providers. The acquisition is expected to cost Microsoft at least $US100 million ($A130m).

Instagram introduces endlessly looping videos for advertisers

Instagram has changes its video settings so that clips automatically replay in its users’ streams, in a move welcomed by advertisers who want to get as many views on their ads as possible, The Verge reports.


Users can choose to have the videos preload on Wi-Fi only to save data, but it’s not the default option, and there’s no way to disable auto-playing.


The Dow Jones Industrial Average is up 6.62 to 17,673.02. The Australian dollar is currently trading at US78 cents.


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