A bruising battle between China’s two largest bike-sharing services just ramped up a notch. Ofo has raised $450 million from backers including DST and car-hailing giant Didi Chuxing, taking its valuation to more than $1 billion.
Month: February 2017
HPS Looking to Add Chromebooks For High School Students
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Trump’s First Speech to Congress: Buy American, Hire American
President Trump delivered his first speech to Congress. Covering a range of policy plans hitting corporate tax reform, repealing Obamacare, creating jobs, dialing back red tape regulation among others.
Trump Doubles Down on Controversial Pledge to Leave Social Security, Medicare Untouched
President Trump delivered his first speech Tuesday night to a joint session of Congress, discussing his budget blueprint for the coming fiscal year which includes a $54 billion increase in defense spending, a large cut in funding for the Environmental Protection Agency– and “no changes” to Social Security and Medicare. As of January, 66 million Americans were receiving Social Security, Supplemental Security Income payments, or both, according to the program’s website.
Ben Stein: We need to raise taxes on the rich
Feb. 28, 2017 – 3:33 – Economist Ben Stein on how the Democrats will react to President Trump’s address to Congress and why he believes there is no connection between tax cuts and the movement of the markets.
Toshiba Said to Seek Bids for Chip Unit at $13 Billion Value
Toshiba Corp. is sending letters soliciting offers for its memory chip business this week and seeking bids that value it at about 1.5 trillion yen , according to people familiar with the matter. The Japanese conglomerate is offering a majority stake in the chip unit and would be willing to sell the entire business, said the people, asking not to be identified because the matter is private.
Trump Touts $3 Trillion Stock Market Rally at Joint Congressional Address
Wall Street is bullish on Trump, and the president knows it — he touted the stock market rally during his Congressional address. “The stock market has gained almost $3 trillion dollars in value since the election on November 8th, a record,” he said in prepared remarks delivered to a joint session of Congress on Tuesday, the 40th day of his presidency.
The Latest: New Mexico adds disclosures for solar contracts
The New Mexico House of Representatives has approved new disclosure requirements for providers of rooftop solar energy systems and related financing agreements. The House voted 56-6 on Tuesday on the bill from Democrat Rep. Debbie Rodella of Espanola.
Dementia Care Expert to Speak in Kearney, Grand Island
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Harris Corp. announces new research into drones
Harris Corp officials held an event to announce the Melbourne company would be joining a group that will research low-altitude networks to make drone use safer. Harris Corp officials held an event to announce the Melbourne company would be joining a group that will research low-altitude networks to make drone use safer.
Hill tech counsel tapped for White House cyber post
The Trump administration has appointed 13 new senior staff members to the National Economic Council, including Grace Koh, who will serve as special assistant to the president for technology, telecom and cybersecurity policy. Koh most recently spent three and a half years as deputy chief council to the Subcommittee on Communications and Technology of the House Energy and Commerce Committee, which advised “the chairmen and committee members on policy and legal issues arising in the telecommunications and technology sectors,” the White House announcement said.
Uber CEO Kalanick Seen on Video Arguing With Driver Over Pay
When Uber Chief Executive Officer Travis Kalanick takes an Uber, he prefers a black car, the high-end service his company introduced in 2010. On this particular night in early February-Super Bowl Sunday-Kalanick is perched in the middle seat, flanked by two female friends.
SBI Sees Bad Loans at India Banks Worsening on Slower Growth
India’s weaker economic growth will lead to more soured loans, even after an audit of lenders’ books pushed stressed assets in the South Asian nation to the highest among major economies, according to the head of the country’s largest bank. “There could be a few more accounts that could start showing stress mainly because the kind of growth in demand that we have been talking about still has not really come back,” State Bank of India chairman Arundhati Bhattacharya said in an interview with Bloomberg Television in Hong Kong on Tuesday.
SBI’s Bhattacharya Says India’s Low Rates to Continue
India’s GDP expanded 7 percent in the fourth-quarter, which was far stronger than what was estimated. The country is also forecast to grow over 7 percent for the coming year as banks work to replace cash sucked out by Modi’s shock clampdown last November.
Governor Cuomo Announces $39.2 Million in New NY Broadband Program…
More Than 32,700 Homes and Business to Gain Access to High-Speed Broadband in the Capital Region through Round II Advances Governor’s Goal of Providing Broadband Access to All New Yorkers by the End of 2018 Round II Awards and Census Block Data Available Here Governor Andrew M. Cuomo today announced $39.2 million in New NY Broadband Program Round II grants have been awarded to 11 projects in the Capital Region. These awards will provide 32,737 homes and businesses with access to high-speed broadband for the first time, and leverage $9.8 million in private matching funds – bringing the total public-private investment in the Capital Region to $49 million in Round II.
Australia goes 25 years without recession
Australia’s economy has jumped sharply in the last quarter of 2016, allowing the resource-rich economy to mark 25 years without recession. Australia’s economy had contracted in the third quarter but the surprise rebound pulled annual figures back to a 2.4% growth rate.
Kellyanne Conway Defends Controversial Couch Photo
As President Trump prepares for his first address to a joint session of Congress on Tuesday evening, Kellyanne Conway, counselor to the president, joined Lou Dobbs on FOX Business to discuss what people should expect from what she predicts will be a “beautiful speech.” “I think it begins on a very important note that you’ll see, and all the way in-between really inspires and lifts up the American spirit and also the American people,” she said.
JPMorgan CEO Dimon: Regulatory Reform ‘Flashing Red to Green’
Executives at J.P. Morgan Chase & Co. struck an upbeat tone during the firm’s annual investor day, painting a picture of bank businesses mostly poised for growth.
Trump’s First Speech to Congress LIVE
President Trump is delivering his first speech to Congress. Wall and Main Street are listening closely for updates on key policies that will shape corporate tax reform, immigration, defense spending and trade.
Australia’s Economy Avoids Recession
Australia’s resource-rich economy avoided recession by posting strong growth in the fourth quarter, helped by surging commodity prices. GDP grew by 1.1% in the fourth quarter from the third, and by 2.4% from a year earlier.
Losses Mount for Obamacare Startup Oscar as Repeal Looms
Oscar Insurance Corp., the startup trying to reinvent medical insurance with its Obamacare-focused plans, lost more than $200 million on the products in 2016 as it heads into a year that may see the undoing of the health law. The company offered plans in four states in 2016 and lost about $204.9 million on premium revenue of $425.9 million, according to filings.
Carlyle, CVC, KKR Said to Bid for Onex’s USI Insurance
Carlyle Group LP, CVC Capital Partners and KKR & Co. are among suitors that have made first-round bids for Onex Corp.’s USI Insurance Services, according to people familiar with the matter.
United-Avianca Deal Becomes Target of Lawsuit by Kingsland
Avianca Holdings SA’s chairman and controlling shareholder, German Efromovich, is forcing the Colombian airline into a potential deal with United Continental Holdings Inc. that will hurt minority investors, according to a lawsuit filed Tuesday in New York State Supreme Court. Kingsland Holdings, the second-biggest shareholder in Avianca, is suing the Bogota-based air carrier, Efromovich and Chicago-based United, saying they secretly negotiated an $800 million loan and strategic partnership.
KCSM jazz station cuts programming
Starting this week, the voices of some notable Bay Area music programmers will be missing or heard less often on jazz radio KCSM due to budget cuts. Veteran San Francisco music producer and radio host Harry Duncan will no longer do his Sunday evening KCSM show, “In the Soul Kitchen,” a gumbo of soul, funk, jazz, roots reggae and other music genres that aired on KUSF for 28 years and has been on KCSM since 2014.
Where to Make Your Move on Oil
Oil’s well that ends well? I’m heading to an energy conference in Texas this week, and it is striking to reflect on the change in attitudes in just one year. A year ago today, the front-month West Texas Intermediate crude future closed at $33.75 per barrel.
Rangel Ravelo, Trevor Plouffe and Marcus Semien all homer for Oakland as A’s take down Cleveland
Rangel Ravelo delivered a two-out solo homer in the bottom of the eighth inning as the A’s won for the second consecutive day in the Cactus League, beating defending American League champion Cleveland 5-4. Ravelo’s homer was one of three hit by the A’s, a two-run opposite field shot in the first inning from Marcus Semien and a third-inning solo shot from Trevor Plouffe that hit a fan dozing in the sun near the left field scoreboard.
Audi, Porsche are tops in Consumer Reports’ annual rankings
Audi, Porsche, BMW and Lexus are the best-performing brands in Consumer Reports ‘ annual rankings, but lower-priced options aren’t far behind. Subaru, Kia, Mazda, Honda and Buick also made it into the organization’s top ten brands for 2017.
4 Sane Ways To Pay Down Student Debt
If you’ve read any of the student-debt success stories circulated in the media lately, you might think the only way to pay down your debt is to give up coffee, your social life and your apartment. “It seems like borrowers are told that they have to live on beans in a shantytown and pay off their debt as quickly as possible,” says Minnesota-based certified financial planner Mark Struthers.
San Francisco home prices see big drop in January
The Arden, one of Mission Bay’s newer condominium towers, makes a virtue of the neighborhood’s horizontal emphasis zoning rather than trying to hide that it doesn’t exist. The Arden, one of Mission Bay’s newer condominium towers, makes a virtue of the neighborhood’s horizontal emphasis zoning rather than trying to hide that it doesn’t exist.
Group says Buffett’s firm opposes selling fossil fuel stocks
A group of environmentalists that wants Warren Buffett ‘s company to sell its investments with ties to fossil fuels says Berkshire Hathaway is opposing the measure. Nebraskans for Peace said Tuesday that Buffett’s company told the group it opposes the measure that Berkshire shareholders will vote on later this spring.
Could the $1.3T of College Debt Spark the Next Financial Crisis?
As President Trump addresses Congress over tax reform and defense spending in a joint session Tuesday night, one agenda that might not be covered could very well spark the next financial crisis: student loan debt default. According to the New York Federal Reserve, U.S. student loan debt has soared to $1.3 trillion becoming the second highest consumer debt category, more than both credit cards and auto loans.
Fresno-based Catholic TV station KNXT is for sale
The next casualty in the social media explosion could be KNXT , the local television station owned and operated by the Roman Catholic Diocese of Fresno . The diocese is taking a serious look at whether it is cost-efficient to continue to provide the $1.2 million operating budget to the TV station or go to different forms of delivering video.
America’s Favorite Cell Phone Perk Is Coming Back, FCC Head Says, Because Of Obama Regs Roll-Back
Ajit Pai, the Republican chairman of the Federal Communications Commission, said that the recent uptick in “unlimited” data offerings from telecommunications companies is due to his reversal of burdensome federal oversight imposed by the Obama administration. Verizon, T-Mobile, Sprint, and AT&T – the four largest wireless providers in the U.S. – all launched new unlimited data plans in recent weeks in an apparent attempt to capitalize on the change.
Are you saving enough for retirement?
Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events But equally troubling is the fact that many people don’t have a target amount in mind. They are blindly throwing money into a retirement account.
Dimon Says U.S. Future `Very Bright’ If Trump Can Enact Reforms
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon expressed broad optimism for U.S. growth and his own industry if Donald Trump’s administration succeeds in reshaping taxes and regulation.
Time Inc. Said to Ask Suitors to Submit Offers by Next Week
Time’s board of directors wants details on how possible buyers value the company so it can determine whether to pursue a sale of the entire business or individual magazine titles, the people said, asking not to be identified as the details aren’t public. The company may also choose not to proceed with a sale at all, the people said.
Canada Banks Push Back Against Taking on More Mortgage Risk
Canada’s financial industry is urging the federal government to consider alternatives to proposals that could require them to take on a greater share of mortgage defaults through a deductible — calling it one of the biggest shakeups to hit housing finance in 50 years. “This submission has questioned whether a deductible is the most effective way to rebalance risks within the housing finance system,” the Canadian Bankers Association said in a report on Tuesday.
Salesforce Revenue Forecast Falls Short as Cloud Rivals Gain
Salesforce.com Inc. gave a first-quarter revenue forecast that fell short of analysts’ projections, hampered by rising competition from rival business-software makers with their own cloud products. Revenue in the period ending in April will be $2.34 billion to $2.35 billion, the San Francisco-based company said Tuesday in a statement.
Trump Presses Priorities on a Congress Seeking Clarity, Details
President Donald Trump will press Congress to carry out his priorities for replacing Obamacare, jump-starting the economy and bolstering the nation’s defenses in an address eagerly awaited by lawmakers, investors and the public who want greater clarity on his policy agenda. Trump on Tuesday afternoon was putting the finishing touches on his first address to a joint session of Congress, and his spokesman was dispatched to the Capitol to deliver briefings on the major points the president intends to make in the speech, scheduled to begin at 9:10 p.m. Washington time.
Senate Dems hit FCC chairman on consumer data risks
Democratic Senators slammed Federal Communications Commission Chairman Ajit Pai for his recent move to abandon new FCC rules on how internet service providers can use customer data Ed Markey Senate Dems hit FCC chairman on consumer data risks Dems rip Trump administration for revoking Obama’s transgender directive A guide to the committees: Senate MORE Xbox launches subscription service Senate Dems hit FCC chairman on consumer data risks Last chance to improve Afghanistan’s fledgling Air Force? MORE Xbox launches subscription service Senate Dems hit FCC chairman on consumer data risks The Hill’s 12:30 Report MORE Xbox launches subscription service Senate Dems hit FCC chairman on consumer data risks Education’s DeVos, unions need to find way to bridge divide and work together MORE cited security concerns while criticizing Pai’s decision not to enact the broadband privacy provisions … (more)