Rocket Internet, a tech investor focused on emerging market ventures, has reduced its stakes in two of its Europe-focused financial services start-ups after facing setbacks there, Germany’s Spiegel magazine said. Lending site Lendico had all but retreated from three of the six countries where it had been operating, while corporate lending site Zencap made fewer than 200 loans to small firms with a total value of 14 million euros ($16
By Alex Dobuzinskis LOS ANGELES (Reuters) – A California civil liberties group launched a mobile application on Thursday that will let bystanders record cell phone videos of possible cases of police misconduct and then quickly save the footage to the organization’s computer servers. The California chapter of the American Civil Liberties Union said the app will send the video to the organization and preserve it even if a phone is
By Nivedita Bhattacharjee MUMBAI (Reuters) – After losing top engineering talent for years to America’s tech heartland of Silicon Valley, India is luring them back as an e-commerce boom sparks a thriving start-up culture, unprecedented pay, and perks including free healthcare for in-laws. India’s IT industry has long been seen as a back-office backwater, even by its own engineers who started moving abroad in their droves in the 1970s. The
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Automakers reported rising U.S. vehicle sales in April, though some large companies missed analysts’ estimates. Low fuel prices continue to drive demand for pickups and sport utility vehicles.
The billionaire investor believes the Fed won’t be in any hurry to increase rates-in part because of the softer U.S. economy.
The short seller who sparked allegations that Lumber Liquidators Holdings Inc. sold Chinese-made flooring with toxic levels of formaldehyde is now accusing Lowe’s Cos. of similar misdeeds. “New evidence has come to my attention that Lumber Liquidators may not have been the lone violator when it comes to laminate floor sourcing,” Xuhua Zhou said in a report posted on the Seeking Alpha website on Friday. Zhou — who is shorting
Elon Musk hopes to park hundreds of millions of large, solar panel-connected batteries in homes and businesses so the world can disconnect from power plants — and he can profit.
The stock market is struggling with a sudden leadership crisis, and, as a new month gets underway, U.S. investors will lack the usual clues from European stocks.
U.S. construction fell in March as an increase in nonresidential construction was offset by declines in home building and government projects. Construction spending dropped 0.6 percent to a seasonally …