The newly-approved crowdfunding norms will enable start-ups to mobilize funds from mom-and-pop investors over the internet. The US Securities and Exchange Commission (SEC) has okayed the new rules on crowdfunding with a majority voting of three to one. The Business Startups (JOBS) act has been enacted with bipartisan support to facilitate new startups with more flexibility in the mobilization of funds. SEC also changed the audit provisions of the crowdfunding rules.
Archives
Daniel Loeb's Third Point picks stake in Seven & I
The US activist investor Daniel Loeb has bought a stake in a Japanese retailer Seven & I Holdings. Though the details about stake and valuation are not revealed, Loeb-run hedge fund Third Point is believed to have acquired stake below five percent. After the sale, the Japanese retailer is expected to take up restructuring exercise enhance profitability, reducing underperforming merchandise stores. Seven & I Holdings operates over 18,000 outlets under the brand 7-Eleven across Japan. Seven & I has decided to shut about 40 unprofitable Ito Yodado stores in the next five years.
Finland's Kela will provide basic income for working or non-working Finnish
The Finnish Social Institution (Kela) has started to draw up plans to create a basic income model that would provide a guaranteed income for the people whether they work or not.
China sees greater shift to internet-based enterprises
The rising costs of labor and infrastructure are paving the way for more opportunities being created via the internet. The online-based ventures are growing up in China and also enhancing the efficiency of the traditional enterprises as well. Mobile internet is changing the way consumer market behaves in the world's second-largest economy. Initially, the technology innovation doesn't happen in a consumer market, but it takes place in the enterprise segment. The consolidation is very slow in the traditional Chinese business when compared to the western part of the world.
Cross-border technology sharing with Chinese firms worries US defense experts
The technology tie-ups between the US technology giants and Chinese firms have become a center of debate as the close business relations have under current exposure to sensitive defense technology. Security analysts express their concern about possible harm to the national security of the US. In association with US technology firms, Chinese companies are becoming self-reliant in defense technology triggering the alarm bells for the US national security.
Latest News
In a bid to ease the mounting tension emerging from workers, United Continental Holdings Inc has suspended the outsourcing of jobs at the airport. The workers of United Continental expressed their concerns about measures of the company for job cuts. United already slashed 1,100 jobs early this year citing reasons for cost control. Since then, it's been involved in hiring outsourcing staff as part of cutting down costs and existing regular employees. The airline has assured employees that there wouldn't be outsourcing until 2017.
Microsoft has launched the second generation of the company's smart health tracker, Microsoft Band 2. Firstly announced at Microsoft's event earlier this month, the device is now available in the US store and will be available in the UK on November 19.
GoPro Inc has announced quarterly results below the market forecast as the demand for new cameras has been sluggish in the market. Recently launched wearable cameras haven't been received well by the market.
Contrary to economists' expectations, the number of approvals in UK mortgages suddenly dropped in September for the first time in the past four months. The mortgages rose significantly in August indicating the highest level since early 2014.
General Motors promised The United Auto Workers union a $1.9-billion investment in US operations that would add 3,300 union jobs in the country under a proposed four-year contract.
Housing advocacy groups claim that local governments in Brazil are using the Olympics to defend forced evictions and segregation in Rio de Janeiro. In addition, the Ghana Olympic Committee has held a meeting with National Federation Presidents to prepare towards the2016 Games.
Microsoft officially anounced its Arrow launcher for Android. A customization application that enable Android users to modify how their device look and behave. The application is now officially available for download in Android Google Play.
Although it was Gran Turismo Sports and not Gran Turismo 7 that Sony announced during the Paris Games Week, speculations surfaced that GT 7 might come with advanced gameplay features, recent reports circulated.
The Flash has filmed another sequence for the its upcoming crossover episode with Arrow, featuring series stars Grant Gustin, Stephen Amell and Legends of Tomorrow actress Ciara Renee. In other Flash news, Gustin has shared his Halloween look via Instagram on Saturday as he channeled his inner speedster.
