News highlights – August 9

Written by on August 10, 2016 in News with 0 Comments

News highlights for August 9

Indian rupeesIndia Targets $83 Billion Haul From Airwave Auction in September

(Bloomberg) – India said it could raise as much as a record 5.56 trillion rupees ($83 billion) by auctioning mobile-phone airwaves later this year, about four times last year’s proceeds. Read more…

How will Verizon’s Yahoo buy reshape the digital ad marketplace

Combining Yahoo and AOL provides real scale for Verizon, but only time will tell if it’s enough to catapult the platform into the league of behemoths like Facebook and Google. Read more…

Electric car charging station companies issue warning over VW settlement

SAN FRANCISCO (Reuters) – Electric vehicle charging companies are calling for independent oversight of the $2 billion Volkswagen AG <VOWG_p.DE> is required to invest in clean car infrastructure, saying VW should not have the power to shape the nascent electric car charging space.  The German automaker agreed to invest the money, which includes $1.2 billion nationally and $800 million in California, as part of its penalties for equipping hundreds of thousands of its diesel vehicles sold in the United States with software designed to cheat tailpipe emissions tests. Read more…

Money laundering rule on prepaid cards stalled after industry pushback

NEW YORK/ST. LOUIS (Reuters) The U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) proposed that money stored on these cards count toward a U.S. requirement to report cross-border movement of cash of $10,000 or more. But FinCEN later withdrew its proposed rule after pushback from the prepaid card industry, according to law enforcement sources. The move has not been previously reported. Read more…

Yelp swings to surprise profit, raises full-year revenue forecast

(Reuters) – Consumer review website operator Yelp Inc swung to an unexpected second-quarter profit and raised its full-year revenue forecast as investments in sales and marketing led to more businesses and consumers signing up for its services. Read more…

Intel to buy artificial intelligence firm Nervana Systems

(Reuters) – Intel Corp said on Tuesday it would acquire startup Nervana Systems as the world’s largest chipmaker bolsters its artificial intelligence capabilities. San Diego, California-based Nervana will help develop Intel’s artificial intelligence portfolio and enhance the deep learning performance of Intel Xeon and Intel Xeon Phi processors, the company said in a blog post.

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