There's a social media site that is garnering a lot of attention from netizens who are looking for an alternative to Facebook and Twitter, and it's created especially for users who are in their 50's.
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Japanese auto majors may post encouraging quarterly results
The second quarter for Japanese automobile majors is expected to be positive as the sales surged in the US market. Toyota Motor Corp, Nissan Motor Co and Honda Motor Co. registered a rise in sales volume in the North American market during July to September. Investors are closely monitoring the forecasts about vehicle sales to ascertain the possible outcome from the third quarter results. The US and China markets account for one-third of global sales for the top three Japanese automobile companies. The rise in US sales and weaker Yen may add to profits for the Japanese automobile majors during the quarter.
Fed wants to shield taxpayers when banks go down
The Federal Reserve is implementing new rule especially in a bid to strengthen the global financial institutions. According to the proposal, all banks that operate in the US will be able to go down smoothly without causing too much collateral damage to the public.
Cloud storage startup ClearSky Data gets $27 million in Series B funding
Cloud storage is getting lots of attention recently as more companies shifting their data storage to cloud storage rather than physical storage. Due to high demand in the area, ClearSky Data, a company focusing on managing a hybrid data-management solution was awarded a $27 million worth of investment to expand its operation.
Task force for recreational drone registration convenes
A task force charged with recommending rules for registering recreational drones or unmanned aerial vehicles convenes this Tuesday. The group composed of more than 20 people will be holding meetings until November 5.
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Airbnb shelled out more than $8 million to stop an initiative in San Francisco that would limit short-term rentals. Reuters reported that the ballot, called proposition F, could threaten the growth of this giant international tech company.
Amazon launched its Black Friday Deals store in the first day of November as start of a countdown to one of the biggest shopping days of the year.
Google has launched a new app on Apple's App Store and Google Play Store called "Who's Down". The app allows users to instantly find out which of their friends are available to hang out.
Apple Inc. has filed a patent for a new kind of screen protector described as "active screen protection for electronic device". The new protection technology protects mobile devices by extending retractable tabs.
The US activist investor Daniel Loeb has bought a stake in a Japanese retailer Seven & I Holdings. Though the details about stake and valuation are not revealed, Loeb-run hedge fund Third Point is believed to have acquired stake below five percent. After the sale, the Japanese retailer is expected to take up restructuring exercise enhance profitability, reducing underperforming merchandise stores. Seven & I Holdings operates over 18,000 outlets under the brand 7-Eleven across Japan. Seven & I has decided to shut about 40 unprofitable Ito Yodado stores in the next five years.
The Finnish Social Institution (Kela) has started to draw up plans to create a basic income model that would provide a guaranteed income for the people whether they work or not.
The rising costs of labor and infrastructure are paving the way for more opportunities being created via the internet. The online-based ventures are growing up in China and also enhancing the efficiency of the traditional enterprises as well. Mobile internet is changing the way consumer market behaves in the world's second-largest economy. Initially, the technology innovation doesn't happen in a consumer market, but it takes place in the enterprise segment. The consolidation is very slow in the traditional Chinese business when compared to the western part of the world.
The technology tie-ups between the US technology giants and Chinese firms have become a center of debate as the close business relations have under current exposure to sensitive defense technology. Security analysts express their concern about possible harm to the national security of the US. In association with US technology firms, Chinese companies are becoming self-reliant in defense technology triggering the alarm bells for the US national security.
Chipotle Mexican Grill closed all its restaurants in Seattle and Portland due to an outbreak of E. coli bacteria. The Huffington Post reported that 43 Chipotle restaurants in the Pacific Northwest region have temporarily been closed due to the E. coli scare.
