In its attempt to battle the staggering budget deficit in Egypt, the president has decided to severely increase sales tax on alcohol (wine & beer) and cigarettes. These price hikes should make it easier for the government to control finances. The decision was made public this Sunday. It seems that the flat tax on local and imported cigarettes will be increased by 25 to 40 cents per pack, … [Read more...]
Apple Hires Tag Heuer Sales Exec
The rumors surrounding the impending launch of Apple’s first foray into the smart-watch market just got a bit more intense and believable. On Friday, the American tech giant announced it had wrested away the vice president of sales from the Swiss luxury watchmaker Tag Heuer. By all accounts, the iWatch will launch at some point later this year. Most reports have the release date pegged for some … [Read more...]
GM Won’t Limit Payouts To Compensate Ignition Switch Victims
General Motors Co.’s victim compensation fund which could face hundreds or even thousands of claims from anyone harmed in a crash in which air bags failed to deploy 2.6 million now-recalled Chevrolet Cobalts, Saturn Ions and other cars, will face significant challenges before it starts accepting claims. The fund announced on Monday, faces significant questions from a member of Congress, lawyers … [Read more...]
French Bank PNB Paribas Pleads Guilty and Agrees to Pay Sanction
France's largest bank, PNB Paribas has a bad reputation and a history of doing business with countries that are on the U.S. blacklist. The biggest problem related to French bank PNB Paribas was that it played the role of being Sudan's central bank. It processed financial transactions, money laundry schemes and other illegal trading operations with country that were in violation of the United … [Read more...]
British Bank Barclays Taken to Court under Suspicions of Dark Pool Fraud
New York’s Attorney General, Eric Schneiderman, spoke out against the allegedly unsafe dark pool at Barclays, which exposed investors to the risk of predators. In his interview with CNBC, which he gave on Thursday, Schneiderman explained that dark pools are “places where large investors will go to protect themselves from high-frequency traders because there’s less disclosure” – at least in theory. … [Read more...]
GoPro Sees Glorious First Day of Public Trading
By and large, the share market for cameras is complex, dynamic, and difficult to conquer. However, start-up GoPro saw its shares boom by an impressive 32 per cent within its very first day of public trading. The company, now in its tenth year of existence, initially put a $24 price tag on each of their IPO shares on Wednesday. The move was considered bold, as the pricing gravitated toward the … [Read more...]
Google Buys Two Tech Startups in Fresh Deals Surge
After thrusting itself into competition with U.S. cable operators, Google is inching closer to competing with wireless carriers, too. Google Inc. (GOOG) is buying two small companies to boost its advertising and wireless technologies as part of an acquisition binge. The Mountain View, California-based company purchased video-advertising provider MDialog Corp. as well as wireless startup Alpental … [Read more...]
American Apparel to Maintain Current Marketing Esthetic
Following last week’s ousting of American Apparel CEO Dov Charney, many expected the American clothing brand to head vigorously toward a renewal of sorts. The most recent reports on this issue, however, only indicate that they are on the lookout for new funds, yet are making no plans to update their infamous marketing esthetic. Following the stock spike experienced by the company last week, … [Read more...]
Casino Giants Mohegan Sun, Wynn Resorts Hearings set
Mohegan Sun and Wynn Resorts, the casino giants are locking horns for the lucrative Boston region gambling license, which is expected to be awarded in late August or early September. State gambling regulators will hold the stage for two separate public hearings next week: one for Mohegan Sun in Revere High School on June 24 and one for Wynn in Edward G. Connolly Center in Everett on June 25. … [Read more...]
Aereo’s Fate to be decided by Supreme Court for TV Ecosystem
With June ticking away, the Supreme Court still has a handful of tech-related cases to decide. On Thursday, the Supreme Court made a ruling that will determine the fate of Aereo, a startup that lets you watch live network TV over the internet through your smartphone, tablet or PC. The case could have lasting implications for the way we watch TV in the future, especially when it comes to content … [Read more...]
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