American Business News for 11 Sep 2013
Announced the same day as its path-breaking gay marriage decision, the Supreme Court?s ruling in Sekhar v. United States, addressing the definition of ?property? for purposes of an extortion... prosecution under the Hobbs Act, got a bit lost in the hubbub. Both because the Hobbs Act is an important and oft-used weapon in the government?s arsenal, and because the decision appears to be part of a broader trend to cut back on some judge-made rules that have expanded the reach of statutes used to prosecute white-collar crime, the decision is worth a closer look.
SEOUL, South Korea (AP) -- North and South Korea agreed Wednesday to restart operations at a jointly run factory park that Pyongyang shut down in April during a torrent of threats, the latest sign of... easing animosity between the rivals.
Forbes Media LLC., publisher of Forbes magazine and forbes.com, is an authoritative source of news and information on business, investing, technology, entrepreneurship, leadership and affluent... lifestyles. Forbes.com, a leading business website, currently reaches 49 million monthly unique visitors, according to Omniture. Forbes magazine, Forbes Asia and Forbes Europe attract a global audience of more than 5 million readers. The Forbes magazine iPad app merges the power of print storytelling with social sharing and the web. The Company also publishes ForbesLife magazine, as well as 29 licensed local editions around the world.
History is not on the side of people who make snide remarks about the United Kingdom as Marshal Philippe Petain, leader of French occupied Germany discovered in the 1940s, and as the Russian... Government might also discover if it checked current economic facts, and the surprise views of big Swiss investment bank.
California has finally fixed an 1872 law that led a court to throw out a rape conviction on the basis that the female victim wasn't married at the time of her rape. Earlier this year, California's... Second District Court of Appeals granted a retrial for a man, Julio Morales, who snuck into a woman's bed, pretended to be her boyfriend, and raped her. Because the woman wasn't married at the time, the court "reluctantly" held that it wasn't legally defined as rape. Here's an excerpt from the court's ruling, courtesy of LA Weekly: A man enters the dark bedroom of an unmarried woman after seeing her boyfriend leave late at night, and has sexual intercourse with the woman while pretending to be the boyfriend. Has the man committed rape? Because of historical anomalies in the law and the...
Downtown Detroit was hit by a power outage at around 1 p.m. today. Multiple buildings appear to have lost power including city hall, Detroit News is reporting. CBS Detroit reports that the Frank... Murphy Hall of Justice and the People Mover in downtown Detroit have also lost power, while Local 4 News reports that some Wayne State University buildings lost power and there were reports of people stuck in elevators. We recently reported how the city was racing against the end of Daylight Savings Time to restore reliable service to thousands of street lights. The city's office of emergency management says they had to shut off parts of the grid to address two main power lines that surged out as a result of heat overloads, the WXYZ's Alicia Smith reports. The area is powered by the City of...
?How should we get started?? I?m asked that question all the time. It?s clear that by now, most marketers recognize the link between data-driven marketing and business value. But many remain stumped... about how to actually begin putting data-driven marketing to work. ?What should we do first?? ?Is there a right way? A wrong way? A best way?? Over the next few weeks, I?ll walk you through my five-step plan around big data marketing. I?ll break it down and show you how your company can really dig into the issue, make decisions and make data-driven marketing a reality. For today, let?s explore Step One: Get Smart, Get Strategic.
This picture, posted to Weibo, shows two cans of Chinese Red Bull. One is fake — can you tell which one? Here's another shot, showing the Red Bull after it was poured: If you can't tell the... difference, you may be in for a little bit of trouble when visiting China. The South China Morning Post reports that that police have detained 13 people across 10 provinces in China this week, part of an effort to clamp down on the fake Red Bull trade. Police have confiscated 3,820 boxes of cans and other materials worth a total of 25 million yuan ($4 million). The fake Red Bull is apparently a profitable business, earning 3.7 yuan (60 cents) profit on each fake can sold. However, it may have a downside for consumers — posts on Chinese Weibo reportedly show someone receiving hospital treatment after...
Hedge fund that allied with Carl Icahn on Dell is No. 2 shareholder in Murdoch's firm.
BANGKOK (AP) -- The price of oil dropped Wednesday after President Barack Obama said he asked U.S. lawmakers to postpone a vote authorizing the use of military force against Syria.
BEIJING (AP) -- A billionaire Chinese real estate developer who bought one of the biggest U.S. cinema chains last year has emerged as the country's new richest tycoon.
MSCI Asia ex-Japan stock index on track for 10th day of gains; safe-haven yen pressured, oil prices stay soft
Netflix is launching its video streaming service in the Netherlands Wednesday, making good on plans it announced three months ago. It also set a price: 7.99 euros ($10.63) per month. The first month... is free.
Blythe Masters, the chief of JP Morgan's commodities unit, could leave the bank in a deal to exit JPM from the physical commodities business, a person close to her told the Wall Street Journal.... Masters, an economist, is widely credited with creating the credit default swap, and was the youngest woman to become a managing director at the bank at age 28. JP Morgan only got into the physical commodities business by chance, during the financial crisis. That's when it inherited Bear Stearns' commodities units and then bought RBS' for a song. The problem is that according to bank regulation dating bank to the 1960s, bank-holding companies like JPM are not supposed to hold these assets anyway. Now the Fed gets to decide whether JPM, and all the other major banks, will keep these businesses. JPM...
Royal Caribbean Cruises Ltd. said Wednesday that its board of directors had agreed to get rid of staggered terms, instead moving to annual elections for directors.
When it comes to the digital future of Kansas City, Google Fiber, the super-fast Internet service from Google, automatically comes to mind. But it is not the only revolutionary new Internet service... provider in town. The KC Freedom Network aims to one-up Google Fiber by bringing truly affordable Internet to the city, according to The Verge. But, wait, isn't one of the amazing things about Google Fiber that it offers a free Internet option? Well, "free" has some strings attached. Interested customers must pay a $300 construction fee for the service, which can be paid either all at once or in $25 installments for a year. So, enter the truly free KC Freedom Network. Six Kansas City organizations began building the nonprofit wireless Internet service because many poor residents could not...
Far and away the worst thing about being a craft beer fan -- worse than the weight gain, the expense and the DUIs -- is how difficult it can be to get ahold of great beers. The market for craft beer,... you see, is very different from the market for books of poetry or video games. You can't just go on Amazon and order whatever you want. It's much more like the market for antiques or fresh heirloom tomatoes -- segmented, local and confusing. Many of the country's best craft brewers produce only a very limited quantity of beer. Arcane laws prevent residents of many states from being able to order beer over the internet. And the beer distributor system in use throughout the country ensures that consumers in each state are going to only going to be able to access a limited swath of the beers...
Ann Taylor said it has remodeled its existing store and will be opening a “new concept store” at the Village of Merrick Park in Coral Gables on Monday.
Creative geniuses once ruled in Hollywood. Now the studios are being headed by strategic thinkers.
Feathers were a huge trend at this year's Burning Man festival. They were everywhere: on bicycles, headdresses, skirts, tops, and skimpy showgirl outfits. But when we posted a slide show on "The... Craziest Costumes At Burning Man," commenters went berserk. Apparently, feathers don't fly at Burning Man. According to the official festival website and packing checklist, it's true — feathers are the number one item listed on things you're not allowed to bring: Burning Man is the largest Leave No Trace event in the world, meaning any MOOP — an acronym for "Matter Out of Place" — is to be removed from the land. And that means everything, including dirty shower and dish water, must be taken out of the gates at the end of the seven-day festival. Despite the infiltration of...
A private bank that bills itself as the oldest in Zurich disclosed it is among the 14 Swiss banks under investigation by U.S. authorities for allegedly aiding American tax evasion.
Yahoo CEO Marissa Mayer stirred up buzz and controversy when she struck a sultry pose for Vogue back in August. Michael Arrington, the former co-editor of TechCrunch, interviewed Mayer today at... the TechCrunch Disrupt SF conference, where he asked her about some of her posing choices. Mayer said photographer Mikael Jansson told her it was a story of unconventional leadership, "so don't pose conventionally". Here is one of the most popular photos from the piece: Join the conversation about this story »
Companies working for the Department of Education over the past year have allowed hundreds of thousands of borrowers to default on their federal student loans rather than enrolling them in the Obama... administration's debt-relief programs, new data reveal. In results that have invited comparisons to the Treasury Department's lackluster distressed homeowner initiative known as HAMP, about as many student loan borrowers defaulted on their federal debts as were aided by the administration's three main initiatives meant to avert defaults, according to the Education Department figures. President Barack Obama has made two of those programs -- Income-Based Repayment and a similar initiative known as Pay As You Earn -- central to what he described in August as his "personal mission" to make a...
NEW YORK (AP) -- Verizon raised $49 billion on Wednesday in the largest corporate bond deal ever.
WASHINGTON -- Federal prosecutors in Washington say a New York marketing executive received $600,000 in illicit funds to do unsolicited campaign work for a 2008 presidential candidate. Troy White... pleaded guilty Wednesday to a misdemeanor for failing to file tax returns reflecting the amount his company was paid. Court documents outlined an elaborate scheme and said White worked with District of Columbia businessman Jeffrey Thompson to help a presidential candidate during several primaries in spring 2008. While the candidate was not named in court documents, Thompson and his network of donors were major contributors to Hillary Rodham Clinton's presidential bid. The documents show that White had discussions about working for the campaign but was turned down. Prosecutors say White then was...