401K: The Good, The Bad and The Ugly Alternative
The 410K has been a glimmer of hope to the vast majority of employees yet throughout its existence, it has provided very little benefit to retirees and their family.
Aug 17, 2015 4:04 AM EDT
KKR's Samson Resources to File for Bankruptcy
KKR's Samson Resources investment will be taken over by its lenders due to bankruptcy. The company will skip its $110 million interest payment through a 30-day grace period.
NASA crowdsources a smartwatch for space; offers $1,500 to winning design
NASA is challenging programmers, UI interface designers and the likes to participate in their smart watch app interface design contest which will end on September 9. They will give out $1,500 to the winner.
Waze co-founder Uri Levine still lives in a rental apartment even after the $1B sale to Google
Uri Levine, the co-founder of Waze saved his money when Google bought the app in 2013 for $1B. Right now, he still lives in his apartment.
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Leaked documents shows NSA and AT&T worked together in online surveillance
AT&T and NASA had an agreement to spy people's networks, accumulating information such as email and contacts for over 10 years. As of now, it's unsure if there are still transactions going on between the two.
Aug 17, 2015 2:57 AM EDT
Breather for BT as telecom regulator gives green signal in 12.5B EE buyout deal
UK telecom regulator Ofcom favored BT in GBP 12.5-bn buyout deal of EE in its report to Competition and Markets Authority (CMA). Other telecom companies express fears that deal would create a industry giant that will kill the competition. Now, the ball is in CMA court.
Aug 17, 2015 2:50 AM EDT
Down Under: Gender pay gap is widest in Western Australia
It is an agony for most of the working women to receive wages far lower than men. Gender should not be an excuse since most of the men's work can now be done by women.
Aug 17, 2015 2:37 AM EDT
China requires bold structural reforms for new sources of growth: IMF
Despite slow down in growth, China can sustain the progress and manage the risk, says IMF in its latest assessment report on the world's second largest economy.
Aug 17, 2015 2:18 AM EDT
Samsung Galaxy Note 5 will be available in Q4 in the US
Samsung Note 5 which is the new addition to the Samsung Note phablet family was launched in New York. The South Korean firm has no plans of releasing the Note 5 in Europe, citing marketing reasons and a change of strategy.
Aug 17, 2015 2:00 AM EDT
Volkswagen and Mazda recalls more than 600,000 vehicles in the US
Volkswagen and Mazda to recall more than 600,000 cars to due airbag and corrosion problems. The car makers announced the recall after regulators decided to open investigations this year.
Aug 17, 2015 1:42 AM EDT
Zirtual faces lawsuit for abrupt mass layoff
Zirtual, a company that provides virtual assistants to executives, is facing a lawsuit for violating the WARN Act.
Aug 17, 2015 1:37 AM EDT
Apple charts new programs to help students from minority groups learn to code; diverstiy figures up
Apple is hiring more women and techies from the minority groups. The world's largest company's aim to achieve diversity in its workforce.
Aug 16, 2015 11:37 PM EDT
GE sells online deposit platform to Goldman Sachs
GE is dismantling its financial services unit to focus on its industrial business. Goldman Sachs has agreed to buy the online deposit platform of its unit GE Capital Bank, which has been under regulatory pressure.
Aug 16, 2015 11:23 PM EDT
Goldman Sachs to shell out $272M to settle mortgage suit led by union pension funds
Ending a seven-year suit in New York southern district court, Goldman Sachs has agreed to pay $272 million to over 400 bond investors to settle the lawsuit.
Aug 16, 2015 11:21 PM EDT
India High Court favored Nestle over food regulator noodle ban
Nestle India breathes a sigh of relief when India High Court lifts the noodle ban imposed by a domestic food regulator accusing Maggi noodle with high levels of lead content. Even so, Nestle still has to submit samples from the said product for testing by accredited food regulators and once proven that the noodle is safe to eat, that is when Nestle could start again manufacturing Maggi noodles.
Aug 16, 2015 11:12 PM EDT
Fiat Chrysler recalls 85,816 2015 Chrysler 200 sedans due to faulty connections
Fiat Chrysler Automobiles is recalling 85,816 Chrysler 200 released in 2015. A post-production evaluation founds out that the unit has faulty connections.
Aug 16, 2015 6:26 AM EDT
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