November 24, 2013 |
Back in the 1980s, when I lived in Nairobi, foreign residents had a simple way of obtaining Kenyan shillings. They'd write a check in, say, U.S. dollars on their U.S. bank accounts to the Indian man who owned the ice cream store down the block. He'd pay over shillings at the current black market rate. Then he'd mail the check to his brother in Toronto, who would deposit it in the merchant's name in a Canadian bank account. Presto! The expatriates got shillings to spend locally, and the shop owner spirited his profits out of the country for conversion to a hard currency, secure for his retirement.
November 21, 2013 |
WASHINGTON - President Obama's healthcare law, struggling to survive its botched rollout, now depends more than ever on insurance companies, doctor groups and hospitals - major forces in the industry that are committed to the law's success despite persistent tensions with the White House. Many healthcare industry leaders are increasingly frustrated with the Obama administration's clumsy implementation of the Affordable Care Act. Nearly all harbor reservations about parts of the sweeping law. Some played key roles in killing previous Democratic efforts to widen healthcare coverage.
November 15, 2013 |
Google Inc. plans to invest $80 million in six utility-scale solar facilities in California and Arizona as the tech behemoth continues to put money toward alternative energy projects. The Mountain View, Calif., company will partner with solar developer Recurrent Energy and private equity firm KKR & Co. on the projects, which are estimated to generate enough combined electricity to power more than 17,000 homes, Google said in a blog post. "You'd think the thrill might wear off this whole renewable energy investing thing after a while," Google wrote on its official blog.
November 13, 2013 |
A new stock index was launched Wednesday to help investors keep track of the investing strategies of some of the smartest minds on Wall Street. The iBillionaire index lists 30 large-cap stocks owned by billionaire investors, including Warren Buffett, Carl Icahn, Daniel Loeb, David Trepper and David Einhorn. Launched on the New York Stock Exchange under the symbol, BILLION, the index will allow investors to model their portfolios after the stocks that these billionaires own, based on Securities and Exchange filings.
November 10, 2013 |
John R. "Trip" Adler III The gig: Adler, 29, is a founder and chief executive of Scribd, a YouTube for publishing in which anyone can upload documents and let others read and share them. With 80 million visitors a month, it's a popular destination. And at 6½ years of age, it turns a profit from displaying ads and taking a cut of sales and subscriptions. Book deal: Last month Scribd struck a deal with publisher HarperCollins to make thousands of book titles available by subscription on its service.
November 5, 2013 |
HOUSTON - Forget Monticello or the Chrysler building: There may be no piece of architecture more quintessentially American than the Astrodome. Widely copied after it opened in 1965, it perfectly embodies postwar U.S. culture in its brash combination of Space Age glamour, broad-shouldered scale and total climate control. It also offers a key case study in how modern architecture treated the natural world - and how radically the balance of power in that relationship has shifted over the last half-century.
November 5, 2013 |
What do you do when you have millions and millions of Twitter followers? One option is to fund your very own social network. Teenage pop star Justin Bieber, the second-most popular person on Twitter with 46.5 million followers, has reportedly led a $1.1-million round of funding for RockLive, a San Francisco tech company that plans to launch a new social network this week. The social network will be called Shots of Me and will focus on teenagers, according to Fortune . WATCH: Unboxing the Google Nexus 5 smartphone [Video chat]
November 4, 2013 |
With BlackBerry's latest upheaval, the troubled company is again facing pressure to ditch its smartphones. In a stunning turn of events, BlackBerry announced Monday that a tentative deal to sell itself to a Canadian financial services holding company for $4.7 billion had collapsed, that it was no longer for sale and that Chief Executive Thorsten Heins was being replaced. Shares of BlackBerry plummeted, closing down $1.27, or 16.4%, to $6.50. Its stock has fallen 45% this year.
November 1, 2013 |
The appearance-obsessed can get Botox injections to erase wrinkles, Rogaine to reseed fading hair lines and the prescription medicine Latisse to fill out flimsy eyelashes. Soon, they may be able to get a shot to kill fat. A Southern California company has invested millions of dollars on an injectable, fat-destroying drug that it says will do away with double chins. Kythera Biopharmaceuticals Inc. said the drug, which for now is known by the code name ATX-101, has proved effective at diminishing double chins during trials on more than 1,000 volunteers in the United States and Canada.