Obama Nominates Billionaire for Commerce Secretary
President Barack Obama nominated another corporate billionaire to his cabinet on Thursday, announcing hotel heiress Penny Pritzker, also longtime Obama supporter and "heavyweight" fundraiser, as his official Commerce Secretary pick, the Chicago Tribune reports. Pritzker, with a $1.85 billion fortune, is listed by Forbes magazine among the 300 wealthiest Americans.
Venmo Touch Will Help Chicago's Braintree Bump Mobile Transactions Past $2 Billion A Year
Braintree, a payments gateway that’s backed by Accel Partners and NEA, sounds like it has effectively doubled the volume of mobile transactions it sees per year to $2 billion. It now touts 40 million credit card accounts in its vault. How does that compare to competitors? eBay, which operates Paypal, said it had 123 million registered accounts in its last earnings filing and that it expects to generate about $20 billion of mobile commerce and payments volume. So while Braintree is still smaller, it’s one of the few notable upstart companies in the space. Y Combinator’s Stripe is the other one with its formidable concentration of technical talent. Braintree made waves last year when it acquired Venmo, a New York-based mobile payments startup that made it easy and frictionless to transfer cash back and forth via texts and e-mail. The company kept Venmo’s brand name when it launched a series of products including Venmo Touch, which makes it easy for consumer to store their payments ...
Carlos Slim, Bill Gates top Forbes ranking of billionaires
Ken Griffin leads Chicago delegation at No. 316 on list with $4.1 billion in estimated wealth. Sam Zell is a close second with $4 billion. Forbes's 2013 list of the world's richest people includes 1,426 billionaires, a record number, with a total net worth of $5.4 trillion, up from $4.6 trillion in 2012.
Low water may halt Mississippi River transport next week
CHICAGO - Commerce on a key stretch of the Mississippi River could "come to an effective halt" earlier than expected next week due to low water levels, disrupting shipments of billions of dollars of grain and other goods, a group of shippers said on Wednesday.
Found more than 1 month ago on channel Reuters