The US Department of Justice has been favored with a court order in getting technical assistance from Apple for unlocking an iPhone. Apple CEO has vowed to challenge the court order citing iPhone security. Finally HECC has come forward to end the dead lock situation with invitation to Tim Cook for discussing a possible solution mentioning no set date.
Industry
Ecosystem Investment Partners Closes Fund III Above $200 Million Target
Baltimore private equity firm Ecosystem Investment Partners (EIP) announced on Tuesday that they closed its third fund at $303 million, overriding its target of $200 million. With such amount of equity capital commitments, Monument Group Inc. is to serve again as exclusive placement agent.
India's Ajay Piramal sees value in VC investing
Indian businessman Ajay Piramal has entered into venture capital (VC) space by establishing a new VC funding entity 'Montane Ventures.' The new VC fund focuses on early-stage funding requirements. Piramal has infused $50 million into Montane Ventures will mobiles $150 million additionally from external resources.
Rosneft to invest $500 million to increase stake in Venezuelan state-owned company
Russia's leading oil producer, Rosneft has proposed investing another $500 million in Venezuela's state-owned Petroleos de Venezuela SA, to increase their stake from the original 16.7%. The proposition has come at a time when the country has declared an economic emergency after oil prices dropped to an alarming $24 a barrel.
South Africa's economy flutters, GDP to slowdown
A gamut of factors are affecting the South African economy as dwindling inflows of money, weaker currency, rising unemployment rate and severe drought conditions are at their worst in 25 years. South Africa's GDP growth rate is projected to slowdown further in 2016.
Latest News
Prices usually fall amid plenty of inventories. But 2016 appears as a booming year for Phoenix Real Estate due to increased demands from the buyers. Lack of new construction during the last seven years and soaring up house rents are the contributing factors for the rise in demand. Reduction of inventory in 2015 by 5.5% coupled with increased sells in recent days, accelerate the booming for Phoenix.
This summer HSBC will allow 15 million customers to use the biometric system where account owners can access their accounts online through their fingerprints or voice. This scheme would make hackers and identity thefts difficult to mimic the real owners.
Salesforce has been on acquisition spree and latest PredictionIO is the 36th acquisition for it. Salesforce will further enhance technology applications range in machine learning and big data analytics.
Silicon Valley-based private co-investment platform F50 has the launched beta version of co-investment Syndication Platform. F50 facilitates both the online and offline transactions for investors and startups. It doesn't charge a transaction fee to founders.
Space propulsion startup Accion Systems has announced that it would start receiving orders for micro-propulsion systems, it's selling miniature electrospray ion engines. Accion Systems has developed micro-propulsion systems for CubeSats and other small satellites.
Taxi app Gett launches a new service called "Gett Courier" to up its game among competition. The new service promises to deliver packages across London within an hour, by an excellent team of delivery boys and girls who have undergone an intense study of the streets and by-lanes of London.
Local smartphone manufacturer Ringing Bells, launched an affordable smartphone called the Freedom 251 on Wednesday. With immense support from the India government, it released the smartphone in attempt to connect every Indian.
Lumia 650 is the latest product from Microsoft that was launched on February 15. Though it is aimed at business-oriented users, the phone doesn't have the business-friendly Continuum feature which is deemed significant to its target market.
Apple Inc. offers second largest bond sale this year for its capital return plan. The Company has released its fifth multibillion dollar offering since 2013.
