Forbes released its annual Forbes 400 list on Monday, revealing the 400 wealthiest people in the US. It’s not just a list of privilege; it’s a story of opportunity. Many of these mega successes started with limited means. Just ask Jan Koum, the WhatsApp founder who once lived on food stamps. After selling his company to Facebook in February for $19 billion, he’s now worth $7.7 billion, Forbes estimates. Then […]
SAN FRANCISCO/SEATTLE: Larry Ellison, co-founder and leader of Oracle Corp for 37 years, stepped aside as chief executive officer on Thursday, to be replaced by co-CEOs Safra Catz and Mark Hurd, raising questions about a job-sharing arrangement that has had a fraught record elsewhere. Ellison and the two new co-CEOs each stressed that nothing would change under the new management structure, with Ellison staying on as executive chairman and chief […]
Tokyo: The Indian Navy’s ability to carry out amphibious landing, casualty evacuation, humanitarian assistance and long-range surveillance and reconnaissance received a major boost today, with Japan agreeing to sell and transfer technology to India to build the specialised sea-plane, the US-2 produced by ShinMaywa. A joint statement, issued today in Tokyo after the summit meeting between Prime Minister Narendra Modi and Japanese Prime Minister Shinzo Abe, said, “Both sides directed […]
The Indian economy could lose $30 billion annually with the IT industry being the hardest hit if the Immigration Bill under consideration in the US Congress becomes a law, Indian American Advisory Council of House Republican Conference of US Parliament has said. The IAAC, which advises US House of Representatives on India related issues, stated the ‘US Immigration Bill S744’ calls for significantly cutting down on outsourcing of work for […]
Russian criminals have stolen 1.2 billion Internet user names and passwords, amassing what could be the largest collection of stolen digital credentials in history, a respected security firm said Tuesday. The news was first reported by The New York Times, which cited research from Milwaukee-based Hold Security. The firm didn’t reveal the identities of the targeted websites, citing nondisclosure agreements and a desire to prevent existing vulnerabilities from being more […]
Nearly two years after it had said its premium water brand Himalayan would go global piggybacking Starbucks, Tata Global Beverages has finally taken the product to Singapore. The tea, coffee and water business arm of the diversified Tata Group has said the response to the product has been on par with the French rival Evian. “It’s over a year (last October) that we test-launched the Himalayan water brand in […]
Last year, FirstBiz did a series on how Indian banks goof-up and customers have to run around to rectify the wrongs that the banks have done. Based on its popularity and reader requests, Firstbiz has decided to continue the series and focus upon areas where banks make the most blunders, which in short is everywhere—from deposit accounts to cards to loans. Linked Finance Ireland is the best option to go for […]
B.C. and China have signed a memorandum of understanding that will bring foreign workers, if needed, to help build the province’s growing LNG industry. The agreement reads: “The Participants will, in accordance with their respective applicable laws and regulations, and respecting the priority of hiring domestic labour whenever possible, work together with the appropriate authorities to secure and facilitate the entry of foreign workers.” The 16 proposed LNG projects […]
LONDON—European startups have had a bumper few months, raising €2.1 billion (more than $2.8 billion) from venture-capital investors in the second quarter of 2014, the highest quarterly total since 2001, according to data from Dow Jones Venture Source. The influx of funding into privately held European companies echoes a similar investment boom in the U.S., where private companies raised $13.8 billion in venture capital in the same period, according […]
Five ways Calgary rules Canada: 1. According to Statistics Canada yesterday, Calgary boasted the country’s top median total family income in 2012, at $98,300, surpassing the Ottawa area, which held the 2011 crown but now stands at $94,230. Edmonton, at $96,030, also bested Canada’s capital. 2. Calgary is projected to lead Canada’s major cities in economic growth this year, at a pace of 3.4 per cent, according to the […]
