Vine-ing Nemo! Six-second movies of the storm
Our friends at RebelMouse.com are curating Vines--short films made with Twitter's new video-sharing app--to capture this weekend's big northeast blizzard.By RebelMouse.com | Yahoo! News – Fri, Feb 8, 2013 4:51 PM EST
- Nigerian military: Most abducted schoolgirls freed51 minutes ago
- What's on the new 'real world' SAT?2 hours 30 minutes ago
- Chelsea Clinton: I might run for office someday1 hour 54 minutes ago
- Separatists take armor from Ukraine forces2 hours 10 minutes ago
- Lawyer: Family issues key in Boston suspect's defense 1 hour 49 minutes ago
- BlackBerry's meltdown sparks start-up boom in Canada's Silicon Valley
By Sayantani Ghosh, Ashutosh Pandey and Euan Rocha (Reuters) - The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90 percent of its market value as consumers shunned its smart phones, might have spelled disaster for the company's hometown of Waterloo, Ontario. More than 450 start-ups opened for business in the twin cities of Waterloo and Kitchener last year, more than four times the number begun in 2009, according to Communitech, a local company that advises them. Often, the new companies are being founded by former BlackBerry employees chasing their entrepreneurial ambitions in a community that's Canada's answer to technology hubs in California and elsewhere. "For those who are trying to get a new tech business off the ground, get it funded, and not get lost in the shadow of Silicon Valley, Waterloo can be the best place to get your company on the map," said Sean McCabe, vice-president of engineering at drone manufacturer Aeryon Labs Inc in Waterloo.
- Bank of Canada says inflation rise hasn't shaken neutral stance
By Louise Egan and Leah Schnurr OTTAWA (Reuters) - Canadian central bank chief Stephen Poloz said on Wednesday an interest rate cut is still a possibility even though the bank forecasts inflation will pick up speed this year and approach its 2 percent target. The Bank of Canada held its benchmark interest rate at 1 percent, as expected, extending a 3-1/2 year freeze on borrowing costs.
- Loud in a crowd: Nissan range gets grille makeover
By Norihiko Shirouzu BEIJING (Reuters) - Japanese carmaker Nissan Motor Co is going for a facelift to stand out from the crowd. In an increasingly competitive global market - in China alone there are some 80 automakers battling for sales - Nissan plans to put a V-shaped front grille design on most of its models to give itself a "distinct, unified face", says global design chief Shiro Nakamura. "Before, we didn't really feel a pressing need for unified looks, but the number of brands is on the rise sharply in China, and there are simply too many different faces," Nakamura told Reuters in a recent interview. We realize we've been a bit too modest," Nakamura said, adding that while this is a global strategy for the Nissan brand, it's especially relevant in China.
- GM to seek court protection against ignition lawsuits
GM has said it is protected from liability for claims related to incidents that occurred before it exited bankruptcy in 2009, and has taken steps to raise those issues with the court by filing motions to stay recall-related lawsuits while it asks that bankruptcy court to clarify the extent of that protection. In a filing with the U.S. District Court for the Southern District of Texas on Tuesday, GM asked for a stay on litigation related to ignition claims until a judicial panel on multidistrict litigation decides on a motion to consolidate the case with other lawsuits and the bankruptcy court rules on whether the claims violate GM's 2009 bankruptcy sale order. The company earlier filed a similar motion with the U.S. District Court for the Northern District of California seeking a stay on pending litigation. The defect has been linked to the deaths of at least 13 people and the recall of 2.6 million GM vehicles.
- Former Bridgestone exec to plead guilty to price fixing: U.S. Justice Dept
A former sales manager for Bridgestone Corp has agreed to plead guilty and serve 18 months in prison for participating in a conspiracy to fix the prices of rubber anti-vibration devices used in automotive suspension systems and engine mounts, the Justice Department said on Wednesday. In a separate action involving Bridgestone on Tuesday, one executive and two other former executives were indicted for conspiracy. Bridgestone itself agreed in February to plead guilty to price-fixing and agreed to pay a $425 million criminal fine. The Justice Department said Yusuke Shimasaki, a former Bridgestone sales manager, agreed to plead guilty to one felony count of fixing the prices of products sold to Toyota Motor Corp , Nissan Motor Co Ltd and Fuji Heavy Industries Ltd , which makes Subaru cars.
- BlackBerry buys minority stake in healthcare IT firm
By Euan Rocha TORONTO (Reuters) - BlackBerry Ltd said on Tuesday it bought a minority stake in privately held healthcare IT firm NantHealth, a move that offers a glimpse into the type of niche markets the smartphone maker is targeting as it attempts to engineer a turnaround. Waterloo, Ontario-based BlackBerry, a pioneer in the smartphone industry, has fallen on hard times as its market share has waned in recent years. BlackBerry's Chief Executive John Chen, who took the reins at the company less than six months ago, sees healthcare as one of the sectors in which the company has an advantage, due to a heightened focus on patient privacy and BlackBerry's vast array of networks that can manage and secure data on mobile devices. "BlackBerry's capabilities align closely with NantHealth's," said Chen in a statement on Tuesday.
- Mt. Gox set to liquidate as court denies rehabilitation
Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said on Wednesday. CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm, the provisional administrator, lawyer Nobuaki Kobayashi, said in a statement published on the Mt. Gox website. "The Tokyo District Court recognized that it would be difficult for the company to carry out the civil rehabilitation proceedings and dismissed the application for the commencement of the civil rehabilitation proceedings," he said. In Wednesday's order for provisional administration, the court put the company's assets under Kobayashi's control until bankruptcy proceedings officially commence and a bankruptcy trustee is named.
- Bank of America's mortgage crisis costs become a recurring problem
Bank of America Corp's mortgage pain is lasting longer than expected, leading some investors to wonder if the massive expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time items. The bank on Wednesday posted $6 billion of litigation expenses for its first quarter, far exceeding the $3.7 billion of settlement costs that investors had previously known about. Since the 2008-2009 financial crisis, Bank of America has logged some $50 billion of expenses for settlements of lawsuits and related legal costs, before taxes. The expenses stem mainly from settlements linked to mortgages that Countrywide Financial Corp made during the housing boom and sold to investors.