"News You Need To Know Today - 8/26/14" - Truce in Gaza, Amazon buying Twitch & NSA's "Google"

Good morning and here are the most important news stories and what you need to know for today:

  1. Truce between Israel and Gaza (NY Times)- "Israel and Palestinian militants in the Gaza Strip on Tuesday reached a long-term cease-fire after seven weeks of fighting, according to officials on both sides, halting the longest, bloodiest battle either side has experienced in years — but without resolving many of the bigger issues underlying the conflict." Per the article: 
    1. “Israel has once again accepted an Egyptian proposal for a complete cease-fire,” a senior Israeli official said on the condition of anonymity. “This cease-fire is unlimited in time.”
  2. Amazon buys Gaming Site, Twitch for just under 1 Billion (Bn) - "Amazon has officially purchased Twitch.tv for $970 million. In Twitch's announcement of the deal, CEO Emmett Shear repeatedly thanked the Twitch community for helping build the company, and that "with Amazon’s support we’ll have the resources to bring you an even better Twitch." The letter states that Twitch will be "keeping most everything the same," and that Twitch will remain independent from Amazon. Any big deal like this takes time, and according to Amazon's press release, the acquisition is expected to close in the second half of this year." From the article:
    1. "Jeff Bezos, founder and CEO of Amazon gave a quote about the deal, saying 'Like Twitch, we obsess over customers and like to think differently, and we look forward to learning from them and helping them move even faster to build new services for the gaming community.'"


      What is Twitch? "The site live streams video game footage to 45 million viewers a month."


  3. The NSA created a "Google" like Search Engine for browsing emails, calls, etc... for "Five Eyes" Nations National Security Agency (NSA) has its own homegrown search engine that it offers to similarly minded US intelligence outfits.

    Website the Intercept was first to report this and attributes its news to information provided by whistleblowers. It said that the search engine is shared with a number of other US organisations and institutions.

    The search tool is called ICREACH, according to the report, and has been available and in use for some years.

    1. From the article: "Documents gathered by the Intercept show the system in use in 2007, and calls the information that it offers "wholesale sharing". The news website reports that the system is capable of handling two to five billion new records every day, and makes sense of email, phone call, fax, internet and text message metadata. It can also share location information culled from mobile phones."