Europe's stability has re-emerged as a major cause of concern on Societe Generale's famous "black swans" chart."Black swan" events are unlikely to occur but, should they come about, would cause chaos on global markets.3.Former US Attorney General Eric Holder said Edward Snowden performed a "public service" in stoking a national debate about secret domestic surveillance programs.The tragedy comes less than three years after Zurich's finance chief took his own life.7.The director of the Cincinnati Zoo stood by the decision to shoot dead a gorilla as he dragged a 4-year-old boy around by the ankle.A Bill Gates-backed veggie burger released last week is the best one you can buy in a grocery store.
View photosMoreA sign of Alibaba Group is seen at CES Consumer Electronics Show Asia 2016 in Shanghai, China, May 12, 2016.REUTERS/Aly Song Reuters - Japanese telecommunications and internet firm Softbank Group Corp said on Tuesday it will sell at least $7.9 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd in order to raise funds to reduce its debt.Stifel analyst Scott Devitt in a note said that he maintained a "buy" rating on Alibaba after the Softbank sale.Softbank, owner of U.S. telecom company Sprint Corp, said the stock sales were part of a "transformational strategy" to increase its own liquidity cushion and "enable flexible and prudent financial management."In connection with the transaction, Softbank also entered into a lockup agreement with Alibaba under which it will not transfer any Alibaba shares held by the company for six months.Reporting by Narottam Medhora in Bengaluru, and by Peter Henderson and Liana Baker in San Francisco; Editing by Diane Craft and Matthew Lewis
Marc Hedlund and his co-founders are launching a company called Skyliner that looks like a typical tech startup, except in one important way.Instead, Skyliner s $800,000 in startup capital is coming from a different kind of funding source, called Indie.vc, headed by venture capitalist Bryce Roberts.Mr. Nord says traditional venture capital too often becomes a funding drip that encourages founders to spend heavily before they are profitable in an effort to grow, which then requires additional funding.Then founders look around three years in, and they have 45 people and no real business model and own 4.5% of their business and are asking themselves what happened, he says.That is particularly true of companies that need large amounts of capital to scale quickly or capture a new market, such as Uber Technologies Inc. or Box Inc.TEAM -0.57 % , a maker of workplace-collaboration software that went public in December 2015 and is now valued at nearly $5 billion, grew without venture funding, using its revenue to finance its operations.
View photosMoreHttps%3a%2f%2fblueprint-api-production.s3.amazonaws.com%2fuploads%2fcard%2fimage%2f101087%2fap 552310249523The Indian government has rejected Apple's proposal to sell refurbished iPhones in the country, but said it was considering the company's application seeking a waiver of the mandatory local sourcing rule to open its retail stores.However, she said that it could look at relaxing the 30% local sourcing norm required for all foreign single brand retails stores in India for Apple.This rule is exempt for cutting-technology products.Last week, the finance ministry's foreign investment promotion board had opposed such a move, asking the iPhone maker to comply by the rule of selling at least 30% of domestically-soured products, if it wanted to open shop in India.Apple has been pushing for cheaper refurbished iPhones and opening branded stores in the country, in order to increase its presence in one of the world's fastest-growing smartphone markets.India was also the only bright spot in Apple's sales in the last quarter, with the country recording 56% growth.
Pinterest shares have nearly tripled in value since Fidelity first made its investment in October 2013The Nasdaq was down slightly in April, but private tech shares outperformed, at least according to Fidelity Investments.Late Sunday, the mutual-fund giant disclosed the valuations of its portfolio holdings for the end of April, including estimates for the share prices of companies that don t yet trade publicly.Winners included photo-sharing site Pinterest Inc., whose shares increased 14% during the month and have nearly tripled in value since Fidelity first made its investment in October 2013.Shares in business-storage company Nutanix Inc. and software maker Twilio Inc., both of which have filed documents to go public, rose 9% and 10%, respectively.The Wall Street Journal publishes the Startup Stock Tracker, listing marks for over 40 companies held by one or more funds.Among the inputs they study are recent share prices at which the companies have raised money privately, the companies specific financial information, as well as the valuations of comparable companies that trade publicly.
View photosMoreA pedestrian walks past an Apple iPhone 6 advertisement at an electronics store in Mumbai, India, July 24, 2015.The finance ministry's foreign investment promotion board FIPB , which clears foreign direct investment applications, has asked the iPhone maker to sell at least 30 percent locally sourced goods if it wished to open shops in India.Apple hopes to expand its retail presence in India, one of the world's fastest-growing smartphone markets, at a time when sales in the United States and China have slowed.A panel set up by Sitharaman's ministry had favored waiving the sourcing requirement for the U.S.-based phone-maker."We took a line that we wouldn't mind waiving off the local sourcing norm for Apple's high-end products," said Sitharaman."The FIPB decision is a setback for Apple, whose chief executive Tim Cook met Indian Prime Minister Narendra Modi about a week ago.
Elina Lepomäki Chairman of the Conservative Party three candidates have three different position on the Finnish national anthem should change Sibelius's Finlandia hymn, or hold closed Fredrik Pacius Our country-song. Seated Chair, Finance Minister Alexander Stubb is Finlandia view. He told reporters on Monday under the President of the exam held in Turku in the economy, that Finlandia has always been very important to him. Another contender, MP Elina Lepomäki would leave the decision to the people. "Anthem could hold a consultative referendum. The same meeting also elected the chairman of three of the available candidates.
Photographer: Andreas Kennemar / TT Swedish bitcoinbolaget KNC Miner goes bankrupt. While the price of Bitcoin Friday was more than twice as high as a year ago, the company announced that they are now applying for bankruptcy. - My first priority is to break to be able to last until July 10, he said. But even then there were plans to instead use its technology to build their own bitcoingruva instead of selling hardware. In order to finance the large expansion has KNC Miner raised venture capital in several tranches from investors Creandum, GP Bullhound and Accel Partners. According to the newspaper Norrländska Social Democrat, is also expected electricity in the municipality become more expensive due to the KNC Miner no longer will buy the surplus Constance Energi.
Reuters — The Wellcome Trust medical charity is to profit from U.S. approval of a new diagnostic cancer test, the first commercial product funded by the organization since the sale of its pharmaceuticals business to Glaxo in 1995.The regulatory green light shows how the world s leading healthcare charities are becoming important sources of finance for biotech startups and can gain when the young firms they back succeed.The Bill & Melinda Gates Foundation recently made a $80 million profit from selling a stake in Anacor Pharmaceuticals, a firm it had backed for its work on neglected diseases, which is now being bought by Pfizer.With an endowment of $40 billion, the Gates foundation is the world s largest charity, while Wellcome has an 18 billion pound $26 billion investment portfolio.Their scale makes both organizations powerful forces in global medicine.The new cancer test called Axumin, which got a green light from the U.S. Food and Drug Administration on Friday, was developed by start-up firm Blue Earth Diagnostics, which is owned by Syncona, Wellcome s biotech investment arm.It is injected as part of a PET scan and helps reveal recurrent prostate cancer.It s a validation of our investment approach, said Martin Murphy, chief executive of Syncona, who said profits would flow back to the main organization for its charitable work.Syncona is a major investor in several other companies developing innovative products that it believes offer substantial patient benefits, including two firms working on gene therapies for blindness and liver problems.With 250 million pounds to invest over the long term, Syncona aims to achieve returns that can help fund the charity, while also focusing on unmet medical needs and helping companies that would otherwise struggle to raise money.The Gates Foundation approach is somewhat different.Its program-related investments are designed to spur entrepreneurs and companies to pursue ideas in the public good, rather than necessarily to make a profit.But it still stumbled on a big financial win with Anacor, thanks a soaring share price as the company s drugs made progress, and the foundation sold 99 percent of its stake for $86.7 million last November, 17 times its initial 2013 investment of $5 million.The Wellcome Trust sold the majority of its stake in the Wellcome drug company to Glaxo in 1995.That led to the creation of Glaxo Wellcome, which later merged with SmithKline Beecham in 2000 to form GlaxoSmithKline.Editing by Jason Neely
The Apple logo is seen from inside the company's Boylston Street store in Boston on Sept. 16, 2015.Apple may still get to set up wholly-owned stores in India, with the country s Commerce Ministry promising to discuss the matter with the Finance Ministry that had objected to the proposal.Indian government rules require that foreign-owned, single-brand retailers source 30 percent of their products locally, but the Indian government had indicated that it could provide a waiver of that requirement for branded stores of retailers of high-tech products.Why this matters: Apple has decided to focus on India, where it saw 56 percent year-on-year growth in iPhone sales in the last quarter.But that move came in for criticism from the environment ministry, which is concerned that this could create a recycling problem, as the phones would be closer to end of life.But during a meeting this month between Apple CEO Tim Cook and Indian Prime Minister Narendra Modi in Delhi, the executive spoke of the possibilities of manufacturing and retailing in India, according to the country s Press Information Bureau.
The Commerce Minister said her ministry wouldn t mind a waiver of retail rules for AppleThe Apple logo is seen from inside the company's Boylston Street store in Boston on Sept. 16, 2015.Apple may still get to set up wholly-owned stores in India, with the country s Commerce Ministry promising to discuss the matter with the Finance Ministry that had objected to the proposal.Indian government rules require that foreign-owned, single-brand retailers source 30 percent of their products locally, but the Indian government had indicated that it could provide a waiver of that requirement for branded stores of retailers of high-tech products.Apple has decided to focus on India, where it saw 56 percent year-on-year growth in iPhone sales in the last quarter.But that move came in for criticism from the environment ministry which is concerned that this could create a recycling problem, as the phones would be closer to end of life.But during a meeting this month between Apple CEO Tim Cook and Indian Prime Minister Narendra Modi in Delhi, the executive spoke of the possibilities of manufacturing and retailing in India, according to the country s Press Information Bureau.
India s minister for commerce and industry said she supports waiving rules that threaten to block Apple Inc. s retail stores, offering new hope for the tech company s bid in the country.Apple in January said it had sought government permission to open its own retail stores, which would help it fight the stiff competition from low-cost rivals in the country, set to overtake the U.S. as the world s second-largest smartphone market after China.Last month, a government panel recommended waiving the local-sourcing rule for Apple, but the Foreign Investment Promotion Board—a panel of bureaucrats that gives the final go-ahead to foreign-investment proposals—disagreed, as did Finance Minister Arun Jaitley, two government officials told The Wall Street Journal last week.That proposal is currently being considered by the Environment Ministry in consultation with the prime minister s Office.Apple Chief Executive Tim Cook visited India this month on a charm offensive, meeting with Prime Minister Narendra Modi to discuss his company s manufacturing and retailing plans, watching a cricket match and posing for photographs with Bollywood stars.India, in pursuit of long-term growth, wants to leverage Apple s interest to attract investment and create manufacturing facilities and jobs.
In 2013, a middle-income citizen spent on food by 30 percent. Today that number is 50 percent. Russia's former President Dmitry Medvedev sacked working for the government as finance minister Kudrin in 2011, when Kudrin criticized, among other things, an increase in the defense budget and the Government's economic policies in general. In 2030, the country would be as much retirees and working. Give impetus to reforms that President Vladimir Putin's support figures are high. Russia to Finland by train future transit has increased significantly in the first half, when, among other things, the Russian fertilizer companies increasingly take their products to the world.
Reuters – Analysis of data seized by investigators in last week s raid of Google s Paris headquarters could possibly take years, French financial prosecutor Eliane Houlette said on Sunday.Dozens of French police raided Google s offices on Tuesday, escalating an investigation over suspected tax evasion.We have collected a lot of computer data, Houlette said in an interview with Europe 1 radio, TV channel iTele and newspaper Le Monde, adding that 96 people took part in the raid.Google, which said it is complying fully with French law, is under pressure across Europe from public opinion and governments angry at the way multinationals exploit their global presence to minimize tax liabilities.By Chine Labbé.Writing by Maya Nikolaeva; Editing by David Goodman More: France rules out tax deal with Google, finance minister says: We ll go all the way
This article is part of TechRadar's Northern Powerhouse column, a series of articles focusing on the development of the North of England's tech sector.Tech North focuses on a proposition that is about the whole of the North and we all sign up to that while obviously retaining the focus on our own individual cities.TR: Limited access to finance is held up as one of the challenges for Liverpool's digital sector.These are all important but I think anyone who comes along to Binary will see evidence of the less tangible but really interesting aspects of the Liverpool scene which make a compelling case for any start up to at least consider the city.All that talent is still busy working away in the games sector in the city but mainly in smaller dynamic businesses that are appropriate for the games industry at the moment.Companies like Draw and Code to name just one are using emerging technologies to create innovative art and develop sophisticated immersive experiences.
Google latest regulatory problem in Europe is a French tax investigationFrance has no intentions of backing down on Google taxes, French finance minister Michel Sapin confirmed, after French tax authorities raided the Parisian offices of the Silicon Valley search giant last week.Analysis of data seized could take years, French financial prosecutor Eliane Houlette told French media."We need to analyse the data ... it will take months, I hope that it won't be several years, but we are very limited in resources".The probe, which was started by tax authorities three or four years ago according to Sapin, comes mere months after Google paid £130m in back taxes to the UK government after a six-year HMRC investigation.Members of the press outside Google's France office on TuesdayThis increased scrutiny comes amid increasing European pressure on US multinationals to pay more tax, including a separate tax raid on McDonald's French headquarters on May 18 .Late last year, iPhone giant Apple agreed to pay a €318m back tax settlement to the Italian authorities and Google s Paris office saw a similar tax raid back in 2011. .
Reuters – France will go all the way to ensure that multinationals operating on its soil pay their taxes and more cases could follow after Google and McDonald s were targeted by tax raids, Finance Minister Michel Sapin said.Sapin, speaking in an interview with Reuters and three European newspapers, ruled out negotiating any deal with Google on back taxes, as Britain did in January.Dozens of French police raided Google s Paris headquarters on Tuesday, escalating an investigation on suspicions of tax evasion.Investigators searched McDonald s French headquarters on May 18 in another tax probe.There could be other cases, Sapin said.Raids this month by police and justice investigators build on the work started by tax authorities three or four years ago, when they transferred tax data to judicial authorities that look into any possible criminal angle, Sapin said.Google, McDonald s and other multinational firms such as Starbucks are under increasing pressure in Europe from public opinion and governments angry at the way businesses exploit their presence around the world to minimize the tax they pay.Google says it is fully complying with French law and McDonald s declined to comment on the search, referring back to past comments that it is proud to be one of the biggest tax payers in France.Sapin said he could not discuss what sums were at stake because of the confidentiality of tax matters.A source in his ministry had said in February that French tax authorities were seeking some 1.6 billion euros $1.78 billion in back taxes from Google.Asked if tax authorities could strike a deal with the tech giant, he said: We don t do deals like Britain, we apply the law.Google agreed in January to pay 130 million pounds $190 million in back taxes to Britain, prompting criticism from opposition lawmakers and campaigners that the sum was too low.There won t be negotiations, Sapin said, adding that there was always the possibility of some marginal adjustments but that s not the logic we re in.This is possible thanks to a loophole in international tax law but it hinges on staff in Dublin concluding all sales contracts.This week s police raid is part of a separate judicial investigation into aggravated tax fraud and the organized laundering of the proceeds of tax fraud.Should it be found guilty of that, Google faces either up to 10 million euros $11 million in fines or a fine of half of the value of the laundered amount involved.A preliminary inquiry into McDonald s was opened early this year after former investigating magistrate and politician Eva Joly filed a lawsuit in December on behalf of an employee committee, a judicial source said.French business magazine L Expansion reported last month that authorities had sent McDonald s France a 300 million euro bill for unpaid taxes on profits believed to have been funneled through Luxembourg and Switzerland.It said tax officials had accused the giant U.S. burger chain of using a Luxembourg-based entity, McD Europe Franchising, to shift profits to lower-tax jurisdictions by billing the French division excessively for use of the company brand and other services.The judicial source confirmed the investigation was looking into this.The government said this week that it had raked in 3.3 billion euros in back taxes and penalties from just five multinationals in 2015.
Every week, we share a number of downloads for all platforms to help you get things done.I m terrible at saving money, I hate studying personal finance, and I tend to have a carpe diem mentality when it comes to buying the things I want.We ve covered the basics before, and even rounded up your favorite encryption tools, but today we re putting two of the most popular options for Windows head to head to see which one is the best at keeping your sensitive data safe.The new Pixelmator update, 3.5 Canyon, brings Quick Selection and Magnetic Selection tools, as well as a Retouch Extension for the Mac s Photos app.Best of all, there isn t much to it, and it s easy to set up if you have two displays of your own.Android: Before you hit the road this summer, you ll need the right vacation playlist for your trip.
This case could really change the landscape, because everyone who has gripes about what the media has done is going to start thinking about dollars and cents and running to their lawyers, says Thomas Julin, a partner at Miami-based law firm Hunton and Williams who focuses on First Amendment litigation.And it s going to get lawyers thinking, Maybe I should be more willing to represent other individuals against the media.'When their clients win their lawsuits, Keller gets a cut of the winnings.But using it for personal revenge or profit is relatively new—and so far, that version of litigation finance has managed to slip through the regulatory cracks.Now that Thiel has done this successfully, however, the dynamic could change.As insidious as that sounds, consider that under today s lax rules, such a fund could bankroll a lawsuit in which no one knows where the money is coming from.
The CEO wants your help, and it is urgent. Internet Foundation warns of a type of fraud that is increasing exponentially. You work as a manager in the finance department and will receive an email from the company president, an email that looks like the company's email and usually appears normal. What they do not see is that there is a small typo in the return address. This type of fraud has increased significantly. For Swedish companies, it involves several million, believes Peter Forsman, abuse charge on the Internet Foundation.