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Zuckerberg Sells $500 Million of Facebook Shares in February

5Mar By Sheldan RungasamyNo Comments

USA

Zuckerberg Sells $500 Million of Facebook Shares in February

Fully committed to his philanthropy work for the Chan Zuckerberg Initiative (CZI), Mark Zuckerberg sold about $500 million worth of Facebook stock in the shortest month of the calendar, according to SEC filings. This rather odd move however does not come as a surprise as Zuckerberg made his intentions public in September 2017. Mark Zuckerberg’s stock exit comes with a plan. Indeed, he wishes to transfer his Facebook fortune to his philanthropy work for the Chan Zuckerberg Initiative. Two security filings revealed that Zuckerberg sold 685,000 shares worth 125.4 million in the last few days of February. This takes his total sales of the month to about 2.7 million shares worth $482.2 million. These sales are the next step in a process Mark laid out in September to fund the Chan Zucke...

World’s Richest People Lost a Combined 107 Billion in a Week!

3Mar By Sheldan RungasamyNo Comments

USA

World’s Richest People Lost a Combined 107 Billion in a Week!

It must have been a nightmare week for some of the world’s richest people. Especially Mark Zuckerberg since he endured the biggest fall after losing $3.2 billion as large cap stocks disappointed for a forth-consecutive day. The losses of Facebook Inc.’s CEO tops those of Spain’s Amancio Ortega and Mexico’s Carlos Slim who both became poorer by $2.4 billion as of 1 p.m. in New York. Since the opening of markets on Monday, Alphabet Inc.’s Larry page and Sergey Brin each lost above $2 billion on the Bloomberg Billionaires Index. In total, the 500 richest people on Earth lost a massive $170 billion, which accounts for more than the entire market capitalization of Goldman Sachs Group Inc. or Lockheed Martin Corp. American billionaires’ saw a combined $34 billion erased making them the mos...

Sexual Abused Accused Producer Weinstein Company Will File for Bankruptcy

27Feb By AdityaNo Comments

USA

Sexual Abused Accused Producer Weinstein Company Will File for Bankruptcy

Weinstein Co, the studio co-founded by Harvey Weinstein, will file for bankruptcy protection following the USD 500 million deal to sell the company collapsed, the company's board of directors said. The decision came after the board was unable to revive a deal to sell the struggling studio to an investor group led by Maria Contreras-Sweet, who ran the Small Business Administration under President Barack Obama from 2014 to 2017, reported Variety. The board of the company released a letter, in which it made clear that it was in dire need of operating cash. "Based on the events of the past week, however, we must conclude that your plan to buy this company was illusory and would only leave this Company hobbling toward its demise to the detriment of all constituents. Despite your previo...

Trump’s Harley Davidson Vs Modi’s Royal Enfield- The Beginning of Motorcycle War

14Feb By NitishNo Comments

BUSINESS, USA

Trump’s Harley Davidson Vs Modi’s Royal Enfield- The Beginning of Motorcycle War

The Supreme Leader of United States Donald Trump took a dig on India for high import tariff on Harley-Davidson motorcycles. Mr. President during a discussion with Congress members called it "unfair" and warned that in future they may increase the tariff on import of Indian motorcycles to the US. During discussion he said the recent decision of the Indian government to reduce the tariff from 75 per cent to 50 per cent was not enough and asked that it should be reciprocal, as the US imposes "zero tax" on the import of motorcycles. "We have so many countries where we make products, and they make products. We pay a tremendous tax to get motorcycles into their countries. But, Harley Davidson goes into certain countries. I won't mention the fact that it happens to be India, in this case,"...

Microsoft Reported $6.3 Billion Loss in FY17 Quarterly Report

1Feb By AnkitaNo Comments

News, USA

Microsoft Reported $6.3 Billion Loss in FY17 Quarterly Report

Microsoft reported a hefty loss in the past quarter, as it set aside billions of dollars for taxes on profits it expects to bring back to the United States following passage of a major tax overhaul. The technology giant said its loss for the quarter to December 31 was USD 6.3 billion as it took a charge of USD 13.8 billion to pay its taxes. Revenue for Microsoft's fiscal second quarter rose 12 per cent to USD 28.9 billion as it saw gains in business services and cloud computing. Once the world's largest technology company, Microsoft has been rebooting as consumers shift away from Windows- powered computers to mobile devices. This has pushed Microsoft to focus on the internet cloud, artificial intelligence, and services for connected "internet of things" devices. "This quarter'...

Twitter To Notify Users Exposed To Russian Propaganda During U.S. Elections

20Jan By reutersNo Comments

USA

Twitter To Notify Users Exposed To Russian Propaganda During U.S. Elections

Twitter Inc, which is reviewing Russian interference during the 2016 U.S. elections, said on Friday it would notify some of its users whether they were exposed to content generated by a suspected Russian propaganda service. The company said it would email 677,775 people in the United States who followed, retweeted or liked content from accounts associated with the Internet Research Agency (IRA) during the election. The IRA is a Russian organization that according to lawmakers and researchers, employs hundreds of people to push pro-Kremlin content under phony social media accounts. Twitter added that because it has already suspended these accounts, the relevant content is no longer publicly available on its platform. Twitter executives on Wednesday told U.S. lawmakers that it ma...

Apple Will Invest $350 Billion into US Economy in Next 5 Years

18Jan By AdityaNo Comments

USA

Apple Will Invest $350 Billion into US Economy in Next 5 Years

Apple has announced that it will invest and spend about USD 350 billion in the United States in the next five years creating some 20,000 jobs in the country. Already the largest US taxpayer, Apple anticipates repatriation tax payments of approximately USD 38 billion as required by the recent changes to the tax law.A payment of that size would likely be the largest of its kind ever made, the Silicon Valley based company said in a statement. "Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the US economy," said Tim Cook, Apple's CEO. "We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness. ...

IndiaMart, Taobao Figure in US Notorious Markets List

15Jan By PriyankaNo Comments

USA

IndiaMart, Taobao Figure in US Notorious Markets List

Popular Indian portal IndiaMart. com and Delhi wholesale market Tank Road have figured among the annual American notorious markets list which was released today and is topped by China. The list released by US Trade Representative (USTR) highlights 25 online markets and 18 physical markets around the world that are reported to be engaging in and facilitating substantial copyright piracy and trademark counterfeiting. "The Trump Administration is committed to holding intellectual property right violators accountable and intensifying efforts to combat counterfeiting and piracy," he said. The 2017 Notorious Markets List maintains its special focus on the distribution of pirated content and counterfeit goods online. This years report highlights illicit streaming devices as an emergin...

Twitter Says World Leaders Like Trump Have Special Status

6Jan By reutersNo Comments

USA

Twitter Says World Leaders Like Trump Have Special Status

Twitter Inc on Friday reiterated its stance that accounts belonging to world leaders have special status on the social media network, pushing back against users who have called on the company to banish U.S. President Donald Trump. “Blocking a world leader from Twitter or removing their controversial Tweets would hide important information people should be able to see and debate,” Twitter said in a post on a corporate blog. Twitter had already said in September that “newsworthiness” and whether a tweet is “of public interest” are among the factors it considers before removing an account or a tweet. The debate over Trump’s tweeting, though, raged anew after Trump said from his @realDonaldTrump account on Tuesday that he had a “much bigger” and “more powerful” nuclear button than No...

Trump’s Christmas Wish: ‘We’ve Got Prosperity, Now We Want Peace’

25Dec By reutersNo Comments

USA

Trump’s Christmas Wish: ‘We’ve Got Prosperity, Now We Want Peace’

On Christmas Eve, U.S. President Donald Trump took calls from children, asking them what they wanted most from Santa, and revealing what was on his own wish list. One boy wanted building blocks. Another wished for his grandma to get out of the hospital. And as for Trump - who has sent a series of combative tweets since arriving at his Florida vacation home - he said he wants “peace for the country.” “We’ve got prosperity - now we want peace,” Trump told a child named Ryan, who called the North American Aerospace Defense Command (NORAD) to check on Santa’s progress. Every year on Christmas eve NORAD purports to track the flight of Santa and his reindeer-pulled sleigh, a tradition since 1955 when a department store misprinted a phone number, sending a flood of calls to a NORAD c...

Apple Sued by iPhone Owners Over Intentional Slowing of Older iPhones

24Dec By kriti singhNo Comments

USA

Apple Sued by iPhone Owners Over Intentional Slowing of Older iPhones

AP- iPhone owners from several states sued Apple for not disclosing sooner that it issued software updates deliberately slowing older-model phones so aging batteries lasted longer, saying Apple's silence led them to wrongly conclude that their only option was to buy newer, pricier iPhones. The allegations were in a lawsuit filed on Thursday in Chicago federal court on behalf of five iPhone owners from Illinois, Ohio, Indiana and North Carolina, all of whom say they would never have bought new iPhones had Apple told them that simply replacing the batteries would have sped up their old ones. The suit alleges Apple violated consumer fraud laws. A similar lawsuit was filed on Thursday in Los Angeles. Both suits came a day after Apple confirmed what high-tech sleuths outside the company a...

Founder Out Of Litecoins, Sells All After 7500% Rally

22Dec By RishabhNo Comments

News, USA

Founder Out Of Litecoins, Sells All After 7500% Rally

The world's fifth biggest cryptocurrency Litecoin founder Charlie Lee is all cashed in during a 75-fold rally this year. Founded back in 2011 in San-Francisco by a software engineer "sold and donated" all of his holdings over a past few days, he said in a Reddit blog post. The move was under the influence of various accusations where Lee was "accused of doing it(changing price of LTC) for personal benefit." "I have always refrained from buying/selling LTC before or after my major tweets, but this is something only I know. And there will always be a doubt on whether any of my actions were to further my own personal wealth above the success of Litecoin and crypto-currency in general," he added. Lee has sold or donated all his Litecoins and is "well off enough". "For the first time in...