Your Money: Trashing your ex on Facebook may cost you
(Reuters) - The old maxim goes: If you can't say anything nice, don't say anything at all. For divorcing spouses, that may actually constitute legal advice in these days where Internet and social...
Found more than 1 month ago on channel Reuters
Feds Seize Assets From Mt. Gox's Dwolla Acount, Accuse It Of Violating Money Transfer Regulations
Bitcoin exchange service Mt. Gox is experiencing some issues with U.S. authorities. The Department of Homeland Security issued a seizure warrant to Dwolla for the money in Mt. Gox’s Dwolla account. Mt. Gox users can’t use Dwolla as a funding option anymore even though it was one of the most popular options. The Japanese startup failed to register in the U.S. as a money transmitting company — president and CEO Mark Karpeles now faces up to five years in prison. Dwolla had no choice but to proceed with the request. IDG News obtained a copy of the warrant through the U.S. Immigration and Customs Enforcement (ICE), the investigation team of the Department of Homeland Security. In order to accept funds in dollars, Mt. Gox opened a Wells Fargo business account for Mutum Sigillum LLC (Mt. Gox’s American subsidiary). The company had to complete a document that states whether it provides money services or not. The warrant reads: “That document was completed on May 20, 2011, and identified ...
Silicon Valley Firms Want To Nix Calif. Internet Privacy Bill
An anonymous reader writes "Silicon Valley tech firms, banks and other powerful industries are mounting a quiet but forceful campaign to kill an Internet privacy bill that would give California consumers the right to know how their personal information is being used. A recent letter signed by 15 companies and trade groups — including TechAmerica, which represents Google, Facebook, Microsoft and other technology companies — demanded that the measure's author, Assemblywoman Bonnie Lowenthal, D-Long Beach, drop her bill. They complain it would open up businesses to an avalanche of requests from individuals as well as costly lawsuits."
Why Local Is So Damn Hard For Startups: Foursquare Borrows $41M To Try Again
curtwoodward writes "It's one of the biggest, scariest graveyards for Internet entrepreneurs: Small, local business. Sure, a few companies have gone public trying to harvest this huge market — Groupon and Yelp, for instance — but even those big names aren't anyone's idea of a knockout corporate success story. Consider Foursquare, the 'check-in here' smartphone app that leads the latest wave of dreamers trying to strike paydirt among the mom-and-pop set. The company has now raised more than $100 million in private investment, including a fresh $41 million loan. It's just started trying to make money. And the CEO acknowledges that it'll take a massive new product overhaul to get there. Google's tried this market too, with nothing to really show for it. Same with Facebook. If these deep-pocketed techies can't crack the local business advertising nut, is there any hope for Foursquare — not to mention the countless smaller startups?"
IBM To Invest $1 Billion In Flash Technology Research, Reflecting Obsolescence Of Hard Disk Drives
IBM plans to invest $1 billion in research to design, create and integrate Flash into its servers, storage systems and middleware, a reflection of the changing requirements needed for companies to manage massive amounts of data. As part of the news, IBM also announced a new line of Flash appliances. These storage appliances are based on technology acquired from Texas Memory Systems. IBM says the appliances can run 20 times faster than spinning hard drives, and can store up to 24 terabytes of data. The move comes as more companies need better ways to manage the data that is now coming in such volume with the unleashing of mobile apps, the web and the ease for people to create data with updates in pictures, video and trillions of text messages. All that data makes for major bottlenecks in systems that have long depended on mechanical hard disks to process information. Those hard disk systems did just fine in an age when vendors built vertical stacks for transaction-based systems such ...