Activist investor Casablanca Capital has rejected an offer made by Cliffs Natural Resources to end the proxy battle to gain control of the miner's board, Reuters reported.
Firm Management
Venture capitalists Jonathan Teo and Justin Caldbeck establish new fund
Jonathan Teo and Justin Caldbeck will be forming Binary, a new fund that seeks to support startups in the consumer technology space so that they can concentrate on their products, TechCrunch reported.
Barry McCarthy steps down from Clinkle as COO
Barry McCarthy will be stepping down from mobile payments startup Clinkle, known for raising the biggest seed round ever, as its Chief Operating Officer, VentureBeat reported.
Ex- Baidu COO is now venture partner at GGV Capital
Former Chief Operating Officer of GGV Capital is now a venture partner of GGV Capital, the venture capital company that seeks investment opportunities in firms that connect China and the US, TechCrunch reported.
Facebook COO Sheryl Sandberg is not moving to Disney
A source close to Facebook Chief Operating Officer Sheryl Sandberg belied a report that she will be heading the Walt Disney Company when CEO Bob Iger steps down in two years, VentureBeat reported.
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Sean Parker, the first president of Facebok, broke off from California, US-based venture capital firm Founders Fund as a partner to devote more his time to his new projects.
The Linux Foundation will make its "Introduction to Linux" course available to anyone who wishes to learn about the open source software for free on the edX platform VentureBeat reported.
Former US Representative William Delahunt said medical marijuana is "not the golden calf" and he does not expect profits for the next several years from his medical marijuana dispensaries, the Cape Cod Times reported.
Microsoft is definitely not a startup but one team inside the technology giant is striving to encourage the promotion of new ideas through its "bing Incubation Project," VentureBeat reported.
A Reuters report quoted Pimco Co-Founder and Co-Chief Investment Officer Bill Gross as saying "I'm so sick of Mohamed trying to undermine me" but a Pimco spokesman denied Gross made the statement, Reuters reported.
Sony Computer Entertainment America (SCEA) honcho Jack Tretton is stepping down as the head of the US PlayStation division as part of an agreement with SCEA not to renew his contract.
Massachusetts, US-based office supply retail chain Staples will shut down 225 stores across North America by 2015 to push its online business and cut costs amid huge revenue losses.
Enrico Gaglioti, the Global Head of Equity Sales of Goldman Sachs Group Inc, will be leaving his post, Bloomberg reported citing an internal memo from the firm's co-trading heads.
In its quest to develop products faster and introduce more devices to the market faster, Apple Inc has hired new engineers from rival firms like HTC to beef up its team in Asia, The Wall Street Journal reported.
