Business

Aug14, 2017

BitCoin’s value surges despite looming scalability challenges

As of 2:18 Eastern Monday, a single bitcoin is worth $4,282—an all time high for the cryptocurrency, invented in 2008. The bitcoin-USD exchange has soared more than 200% this year, as investors in Korea and Japan increasingly seek to buy the…
Aug14, 2017

Customer sues Cheesecake Factory over “suggested gratuity” figures

Marcel Goldman is suing The Cheesecake Factory over its billing practices, Buzzfeed reports. When diners request a split bill at the restaurant chain, the “suggested gratuity” figures printed on each customer’s bill are calculated based on the total amount of the…
Aug11, 2017

Investors bail-out SoundCloud in emergency investment round

Struggling music service SoundCloud just completed a $169.5 million emergency Series F funding round, TechCrunch reports. New York investment bank Raine Group and Singapore’s sovereign wealth fund Temasek led the round, which Tech Crunch called a "do-or-die moment” for SoundCloud.…
Aug11, 2017

Major Uber shareholder sues former CEO Travis Kalanick

Venture capital firm Benchmark, a prominent Uber investor, is suing the ride-hailing company’s founder and former CEO Travis Kalanick—who, under pressure from Benchmark and other shareholders, resigned as CEO in June amidst a number of scandals—to force him off of…
Aug10, 2017

Facebook is making moves in the realm of video

In an effort to break into the video entertainment market, Facebook is introducing a new video platform called Watch. The platform will be made available to a select group of Facebook users today. Everyone else will have to wait to…
Aug10, 2017

Disney’s quarterly report provides information on ABC-BPI settlement

In September 2012, South Dakota meat processor Beef Products, Inc. (BPI) sued ABC for defamation over the news agency’s reports concerning a meat additive called Lean Finely Textured Beef (LFTB), which became widely known as “pink slime” following ABC’s story. The…
Aug10, 2017

Tesla’s semi-truck will be electric, Autonomous

Tesla will meet with the California and Nevada Departments of Motor Vehicles to talk about testing a semi-truck in those states, Bloomberg reported Wednesday.  In April, CEO Elon Musk tweeted that the company planned to “unveil” an electric semi-truck in…
Aug10, 2017

ASOS to build $40 million warehouse in Atlanta, GA

ASOS, a British online fashion and beauty store, released a statement announcing plans to build a new warehouse in the United States on Tuesday, August 8, Business Insider reports. The giant e-commerce fulfillment center will be located in Union City,…
Aug09, 2017

Disney and Netflix are about to fight over the kids

Over the past few years, Netflix has invested heavily in original movies and TV shows which are available exclusively on Netflix. This content works to attract new customers who want to find out what the House of Cards hype is all about. And it makes existing…
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