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Tag: private

Blockchain's potential will continue to spur public and private investment

Blockchain's potential will continue to spur public and private investment

Finance
The many big companies disrupted by blockchain have now made it a priority to harness this technology. As is typically the case when faced with disruption, large companies are seeking to defend their territory by adopting the very tool that threatens them. With blockchain there's a lot at stake. The global market for blockchain-related products and services is about $ 700 million and is projected to exceed $ 60 billion annually in 2024, according to Wintergreen Research. Among the big corporate blockchain players are Accenture, Facebook, Google, IBM and Microsoft. ...
Elon Musk reaches deal over tweets about taking Tesla private

Elon Musk reaches deal over tweets about taking Tesla private

Technology
Media playback is unsupported on your device Elon Musk must step down as Tesla chair and pay a fine after reaching a deal with US regulators over tweets he posted about taking the firm private.It follows Thursday's decision by the Securities and Exchange Commission (SEC) to sue Mr Musk for alleged securities fraud.Under the deal, Mr Musk will remain as Tesla CEO but has to step down as chairman for three years.Both he and Tesla will also have to pay a $ 20m (£15m) fine.The SEC's chairman Jay Clayton said that he supported the deal, and felt that it was in the best interests of US markets and investors, including the shareholders of Tesla."This matter reaffirms an important principle embodied in our disclosure-based federal securities law...
Watch live: Elon Musk to announce first private passenger to fly around the moon

Watch live: Elon Musk to announce first private passenger to fly around the moon

Science
Sept. 17 (UPI) -- SpaceX founder Elon Musk is set to announce the first private space passenger to fly around the moon on Monday evening. Musk's announcement will be streamed live online. Coverage begins at 9 p.m. ET. According to SpaceX, the mystery passenger will be carried on a trip around around the moon on the aerospace company's next-generation rocket, the Big Falcon Rocket, or BFR. The plans aren't exactly new. In 2017, SpaceX said two unnamed people had put down large deposits to reserve a spot on the private lunar flight. Originally, the Falcon Heavy -- which completed its first static test fire earlier this year -- was scheduled to carry space tourists to the moon and back. Those plans were nixed. Now, if all goes as planned, passengers will by ferried by BFR. As The Verge repo...
Public sector banks are much easier to defraud than private sector ones: Here's the proof

Public sector banks are much easier to defraud than private sector ones: Here's the proof

Finance
Clearly, it is much easier to defraud public sector banks than private sector ones in India and the figures speak volumes about the way the latter are run. According to the Reserve Bank of India‚Äôs (RBI) annual report for 2017-18, during 2017-18, public sector banks accounted for almost all (92.9 per cent) of the amount involved in frauds. While the private sector banks accounted for 6 per cent. With regards to the cumulative amount involved in frauds till March 31, 2018, PSBs accounted for around 85 per cent, while the private sector banks accounted for a little over 10 per cent. Banking frauds in general are on the rise. According the central bank’s annual report, the number of cases on frauds reported by banks were generally hovering at around 4500 in the last 10 years before thei
Elon Musk U-turns on plan to take Tesla private

Elon Musk U-turns on plan to take Tesla private

Technology
Tesla founder Elon Musk has announced he no longer wishes to take his company private. Shares in the car and renewable energy manufacturer soared and then fell after Mr Musk tweeted on 7 August he intended to take the firm off the stock market.His initial move came after the company announced its biggest net loss to date of $ 717.5m (£547.6m) for its second quarter to June.Mr Musk, the firm's CEO and chairman, has faced growing criticism over his management style and whether the firm can deliver the volumes required to meet demand. The value of Tesla's stock has turned him into one of the world's richest men as investors have bet on its technology becoming increasingly valuable as the world switches from fossil fuels to renewables.In a statement made on the Tesla web...