VENTURE CAPITAL POST

Google Executive Chairman Eric Schmidt said Google was very worried about the growing inequality in democracies, particularly San Francisco, and proposed three solutions to address the issue, TechCrunch reported.

Google Ventures took out the $100,000 backing it gave to Bustle, a woman-focused publication, after the investor found that they did not anymore share the same values with its founder, TechCrunch reported citing sources.

Newsweek has given their full backing for reporter Leah McGrath Goodman and the story she did on Bitcoin's secretive creator Satoshi Nakamoto, The Verge 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.

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.

Instagram, the mobile photo sharing service of Facebook Inc, has signed a $50 million advertising deal with Omnicom Group, according to sources interviewed by Bloomberg.

Tencent Holdings, the biggest Internet company in China, could get a 16% stake in online retailer JD.com, according to a Chinese business newspaper, Reuters 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.

Ranbaxy Laboratories has recalled 64,000 bottles of its generic version of Lipitor in the US after a 20-milligram tablet was found in a bottle for 10-milligrams, Reuters 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.

For investment banker Natalie Blyth, the bees gave her a business model to follow and teaches her lessons about "risk, efficiency and productivity," Reuters 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.

Mobli, the startup that also offers a mobile photo and video platform, has announced its intentions to join the Nasdaq Private Market to provide its investors more liquidity, TechCrunch reported.

Optio Labs secured $10 million from parent company Allied Minds and other private investors for its Series A funding round. The company provides software solutions for mobile security, a statement about the funding said.

Women-led angel investment network Angel Academe has invested in UK-based Buddybounce, a startup that seeks to help artists determine and reward their "super fans," TechCrunch reported.