Google subsidiary Motorola announced on Thursday the launch of a new smartphone, the Moto X. The device, which will be made in America, represents a major plunge into hardware by Google — and pits the company against rivals Apple and Samsung.
Former Goldman Sachs trader Fabrice Tourre was found liable on six of seven counts on Thursday. The Securities and Exchange Commission accused Tourre of misleading investors in a mortgage-linked security.
Japan's Prime Minister Shinzo Abe hopes to bring the Japanese economy out of years of stagnation by pumping money into the economy and encouraging domestic consumption. But not everyone is seeing the benefits, and some say it's just a repackaging of strategies that have failed Japan before.
A couple of guys with serious investment banking experience are moving into the marijuana business. They've launched the first multimillion-dollar private equity fund devoted entirely to what they call the "cannabis space." They're buying companies that provide pot-related goods and services.
The SEC pursued civil charges against Fabrice Tourre, meaning that his punishment could range from a fine to a lifetime ban from trading in securities. A federal jury in New York City found that Tourre misled investors in a mortgage securities deal.
New claims for unemployment benefits fell to 326,000 in the week ending July 27 — the lowest level for initial jobless claims in more than five years, according to the Labor Department. Employment data for the month of July is due to be released Friday.
McDonald's may seem to be everywhere, but there are still 105 countries without the fast food giant, from Ghana to Jamaica to Yemen to Tajikistan. In six countries, McDonald's once had a presence, but due to economics, and sometimes politics, the franchises closed.
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