Finance
Depleting Federal income tax
April 18, 2011 · Leave a Comment
According to statistics released by the Tax Policy Center, 45 per cent of American households don’t have enough income to pay Federal income tax. Of the 69 million that the number constitutes, a large percentage will in turn get paid by the Federal government. The statistics enumerate that 12.5 per cent of the population earn between $50,000 and $100,000 (4.3 million); 2.1 per cent earn between $100,000 and $500,000 (485,000); 1.6 per cent earn between $500,000 and $1 million (14,000) while 1 per cent of the population earn more than $1 million (4,000) annually. According to statistics from the...[Read the full story]
Health
Truvada not effective for women; trial halted
April 18, 2011 · Leave a Comment
The FEM-PrEP clinical trial, which was believed to be groundbreaking in terms of HIV prevention, has been halted. The non-profit AIDS research organization that was conducting the trials, Family Health International (FHI), in a statement has explained, “The FEM-PrEP outcome is surprising and disappointing, given a number of earlier studies suggesting the promise of pre-exposure prophylaxis (PrEP) using antiretrovirals. Most recently, the iPrEX study showed that use of Truvada can prevent infection in men who have sex with men at risk of HIV.” This is the first time that Truvada has been a disappointment...[Read the full story]
Shopping
Lockerz raises $30 million in funding for social shopping
April 13, 2011 · Leave a Comment
With the competition high in the market of online shopping and networking, newer and better companies are trying to make their mark. Seattle based Lockerz is one of them. A social shopping newbie in the online shopping and networking market, there is news that the company has managed to pool together more than $30 million in initial funding. It is being believed that the financing can hit the $45 million mark in the next few weeks. The company is creating its niche in the teen clothing targeting them to the youth in their teens and those in their 20s. The news was revealed from the SEC filing of...[Read the full story]
Travel
New tallest building in the making, double the size of the Burj Khalifa
April 13, 2011 · Leave a Comment
Burj Khalifa will soon cease to be the tallest building in the world as a new plan has been unveiled for the 275-floor Kingdom Tower in Saudi Arabia, which will be twice the height of the Burj Khalifa in Dubai. The Kingdom Tower will be 1.6 km tall with 12 million cubic square feet of interior space and will be home to full-fledged hotels, offices, residential luxury apartments and a sprawling shopping center. To reach the top of the tower, an elevator ride will take 12 minutes. Construction is in progress. The tower will be part of an entire city that is being planned in Jeddah, a Red Sea coastal...[Read the full story]
Business
TEPCO ordered to pay ¥1 million per family compensation
April 15, 2011 · Leave a Comment
The Japanese Trade Ministry has ordered the Tokyo Electric Power Co (TEPCO) to compensate the families living around the Fukushima nuclear plant. Under the radar are more than 50,000 families that need to be compensated, which can cost the company more than ¥ 1 million ($ 12,019) per family. Households within 30 kilometers radius from the Fukushima plant will be eligible for the compensation. The ministry has informed that the amount covers families with more than one member; single people living in the area will be given ¥ 750,000 each. TEPCO President Masataka Shimizu has confirmed that the...[Read the full story]
Entertainment
Pulitzer Prize winners announced
April 18, 2011 · Leave a Comment
The winners of the prestigious 2011 Pulitzer Prize have been announced. Presented by the Columbia University annually, the list of winners has been listed out on their website. In the Journalism category, Los Angeles Times won the award for Public Service while Paige St. John of the Sarasota Herald-Tribune won the award for the best investigative reporting for “for her examination of weaknesses in the murky property-insurance system vital to Florida homeowners, providing handy data to assess insurer reliability and stirring regulatory action.” There was no award for Breaking News Reporting,...[Read the full story]
Business
TEPCO ordered to pay ¥1 million per family compensation
The Japanese Trade Ministry has ordered the Tokyo Electric Power Co (TEPCO) to compensate the families living around the Fukushima nuclear plant. Under the radar are more than 50,000 families that need to be compensated, which can cost the company more than ¥ 1 million ($ 12,019) per family. Households within 30 kilometers radius from the Fukushima...[Read more ...]
American Airlines sues Orbitz
American Airlines has filed an antitrust lawsuit against Orbitz Worldwide and the company behind its reservation system, Travelport. The antitrust lawsuit filed on Tuesday in the US District Court for the Northern District of Texas states that Orbitz has adopted “unprecedented” methods to lure customers into buying tickets from their website than...[Read more ...]
Cisco announces restructuring, Flip shuts down
Cisco has announced that part of the company’s restructuring plan is closing its Flip video camera division. Cisco had bought Pure Digital Technologies (Flip’s parents company) for $590 million in March, 2009. The restructuring plan will also lead to a loss of job for 550 employees and is expected to cost the company $300 million by the end of this...[Read more ...]
Dish Network Corporation to buy Blockbuster Inc for $320 million
U.S. Bankruptcy Judge Burton Lifland in Manhattan confirmed today that movie rental company Blockbuster Inc can be sold to Dish Network Corporation for $320 million. Dish won an auction yesterday where it offered $228 million in cash in its bid. Blockbuster Inc had filed for bankruptcy in September last year after its competitors Netflix and Coinstar...[Read more ...]
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