Prosecutors' subpoena of SAC's Cohen puzzles defense lawyers
NEW YORK - The decision by prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is leaving many criminal defense lawyers scratching their heads.
Found 3 days ago on channel Reuters
Exclusive - Airbus to China: We support you, please buy our jets
BRUSSELS - China's decision to ease a boycott of some $11 billion in Airbus jet orders followed a high-level appeal from the planemaker urging Beijing to recognize its support over a trade row with Europe, a letter seen by Reuters shows.
Found 1 week ago on channel Reuters
Baidu Confirms $370M Purchase Of PPS, Underscoring Online Video's Importance For Internet Companies Around The World
After weeks of rumors, Baidu finally confirmed today that it has acquired the online video business of Shanghai-based PPS for $370 million. PPS will be merged into iQiyi, Baidu’s video platform Baidu, to form China’s largest online video platform by the number of mobile users and video viewing time. The sale is expected to close in the second quarter of 2013. PPS will continue to operate as a brand of iQiyi. The deal allows Baidu to step up its competition with video platform Youku-Tudou. At the end of last month, before Baidu had officially announced the deal, Youku-Tudou president Dele Liu made a statement about his company’s competitors: “After the success and synergy created by the Youku Tudou merger, increasing consolidation was inevitable throughout the video industry. We are happy to see this purchase go forward, we expect this acquisition will further rationalize the industry and help reduce piracy in the sector.” Despite the somewhat cheeky tone of Liu’s comment, the ...
Braintree Poaches Google Wallet Co-Creator Rob von Behren From Square
Braintree, the Chicago-based payments gateway that’s processing about $2 billion in mobile transactions per year, just poached one of Google Wallet’s creators Rob von Behren from Square. Von Behren was one of the co-founders of Google Wallet, the NFC-centric mobile payment system that was designed to let consumers pay directly for goods and services with their smartphones. Wallet hasn’t seen widespread traction thanks to the often conflicting motivations of carriers, banks, credit card companies and Google. But there were also internal politics too, which led to a diaspora of Google Wallet team members out into startups and growth-stage companies like Square and Braintree. At Braintree, von Behren says he’ll be working on their mobile e-commerce platform. “Smartphones are pervasive in developed economies, and people use them all the time while making purchasing decisions — but actually buying things with your phone is still really painful in most situations,” he said. Braintree ...
Kenneth I. Appel, Mathematician Who Harnessed Computer Power, Is Dead at 80
Mr. Appel and a colleague solved a century-old problem concerning colors on a map with the help of an I.B.M. computer making billions of decisions.