Joseph Lau, the Hong Kong billionaire tycoon Chairman and CEO of Chinese Estates Holdings, was sentenced to five years in jail for bribery and money laundering, Reuters reported.
Legal
Y Combinator's Sam Altman calls on US to allocate 100 "founders visas"
Y Combinator President Sam Altman has renewed the call that Paul Graham made five years ago on "founders visa" to encourage international startups to establish their firms in the US, TechCrunch reported.
American software firm Nuance releases voice biometrics solution for criminal investigations
Burlington, Massachusetts-based computer software technology firm Nuance Communications Inc released a voice biometrics solution called Nuance Forensics that can help authorities identify and rule out suspects in criminal investigations.
Judge refuses email privacy lawsuits against Google to proceed as class action
Google scored a big victory after US District Judge Lucy Koh did not allow the lawsuits regarding email scanning to proceed as a class action lawsuit, Bloomberg News reported.
Mt. Gox allows users to login and check Bitcoin balance
Mt. Gox has brought back its login screen so that users can check their Bitcoin balances. However, it's still not certain when the digital currency platform will allow users to access their digital money, TechCrunch reported.
Latest News
The People's Bank of China has blocked Tencent Holdings Ltd and Alibaba Group from offering customers with virtual credit cards, according to a source interviewed by Bloomberg News.
The US Federal Trade Commission has begun an inquiry into the operations of nutrition and weight loss firm Herbalife, an inquiry that has long been asked for by activist investor William Ackman, Reuters reported.
New Jersey has joined Arizona and Texas in preventing consumers from buying cars directly from electric car maker Tesla after the New Jersey Motor Vehicle Commission passed a rule on the matter, TechCrunch reported.
The Federal Aviation Administration has filed an appeal to the decision of NTSB Adminstrative Law Judge Patrick Geraghty who ruled that the use of commercial drones was legal, TechCrunch reported.
Jesse Litvak, a former Jefferies & Co Managing Director, was convicted of defrauding buyers in a criminal case connected to the US government's Troubled Asset Relief Program, Bloomberg reported.
The loan-based crowdfuning sector of the UK will be subject to stricter regulations by the UK's Financial Conduct Authority to safeguard the interests of investors and make it more transparent, the Yorkshire Post reported.
In the absence of rules that banned the use of commercial drones, Federal Judge Patrick Geraghty has ruled that these low-flying aircraft can be used for business purposes, TechCrunch reported.
Japan will be setting out rules this week on how it would treat bitcoin under its existing rules. This is seen as the country's first step in dealing with the digital currency after the closure of Mt. Gox, Reuters reported.
New Zealand Venture Investment Fund Chief Executive Officer Franceska Banga thinks that the rule change permitting equity crowdfunding in New Zealand is a positive development, Fairfax NZ News reported.
