Businesses in the US are in a common practice to to classify workers as interns in order to pay them well below minimum wage or nothing at all. Detection of such practice from a venture fund provider appears to be the first of its kind since US Department of Labor accuses Fenox with the malpractice. The regulator has instructed Fenox to pay back-wages to 56 so-called interns.
Industry
Ford Announced Plan to Triple Investment on Semi-Automous Driving Technologies Leading Up To Driverless Cars
Ford announced that the company will devote more resources to develop semi-autonomous driving technologies, as they aim to invest triple the amount of investment in the technologies. Some of Ford's cars already have some semi-autonomous technology in them, as with the updated version of Ford Kuga unveiled along with the announcement.
American Fruits and Flavors Acquired by Monster Beverages for $690 Million
It was agreed that Monster Beverages will take over on American Fruits and Flavors, its leading supplier of fruit concentrares, flavors and mixes. The beverage company paid $690 million for the acquisition. Since 1990's the two companies have been working together.
Fenwick & West Survey Finds Valuations in Silicon Valley Weakening
The latest quarterly survey of Fenwick & West LLP found most Silicon Valley companies that raised venture funding in the fourth quarter of 2015 softened.
Northern Mindanao upbeat on investments in 2016
Northern Mindanao is a region in the Philippines and has five provinces. The Department of Public Works and Highways (DPWH) completed more than 717 infrastructure projects early this year at an investment of PHP 18.7 billion.
Latest News
Mexico is currently aiming to increase its fuel imports in order to attract investment as well as to bring down the fuel prices for buyers. This energy reform activity will boost the competition among private oil firms in Mexico.
Van Diemen's Land Company has been acquired by the Chinese business man Lu Xianfeng and his company Moon Lake. The country's approval of the dairy farm's sale to a foreign firm was made possible with certain conditions that the Moon Lake needs to comply with, especially with the taxation policies.
AT&T on Monday announced its intention to spend about $10 billion in order to provide its "integrated solutions" for enterprises globally. The company is also testing its 5G broadband services at enterprises and homes.
Richard Branson's Virgin Galactic venture unveiled a new passenger spacecraft on Friday, nearly 16 months after a fatal accident destroyed its sister ship during a test flight over California's Mojave Desert.
2015 appears as the most successful business year ever from RES context. It has touched several milestones while being acknowledged as the Best of VMworld 2015 Europe. The browser extension provider has received $10 million from ORIX Ventures to accelerate its penetration into the emerging market.
The gloomy atmosphere prevailing in the construction sector of India has led the government to take monetary steps to aid the ailing sector. Shivshahi Punarvasan Prakalp will provide monetary assistance for the construction activities in India.
Yahoo on Friday announced the strategic alternative to sell its core business. Following the announcement, the company's shares climbed.
American International Group, Inc. Reported Larger Than Expected Net Loss of $1.8 Billion in Q4 2015
American International Group, Inc. reported a bigger quarterly loss than expected. The company was hurt by weak underwriting and investment return. The big loss in Q4 made its full year income dropped by more than 70%
Tokopedia, a start-up founded by William Tanuwijaya, is making its presence in Indonesia with its excellent product portfolios. Experts believe that the economic growth in the nation will drive the start-ups to reach its financial stability.
