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US SEC Doles Out $114M Whistleblower Award

The US Securities and Exchanges Commission (SEC) has announced that it's payed out its largest-ever whistle-blower award to the tune of $114 million to an unnamed individual who provided information to the agency for investigations. The concerned individual was awarded $52 million in connection with an SEC case and another $62 million in connection with related actions to the case that were carried out by an unnamed government agency. The $114 million award marks the largest-ever since the SEC began issuing whistle-blower awards in 2012 and is more than double the previous record of $50 million which was awarded to an individual in June this year. As expected, the SEC protected the identity of the whistle-blower who received the large award. The case that led to the payment is also not disclosed by the SEC. “Today’s milestone award is a testament to the Commission’s commitment to award whistleblowers who provide the agency with high-quality information,” said SEC Chairman Jay Clay

Apple To Roll Out Installment Payment Plans For Apple Devices On Apple Card: Report

Apple CEO Tim Cook. According to a report from Bloomberg , Apple is preparing to offer monthly payment plans for many of its products, including iPads, Macs, and Airpods, on the Apple Card. Bloomberg reports Apple will offer a 12-month interest-free payment plan for gadgets including the iPads, Macs, the Apple Pencil, and iPad keyboards, and six-month interest-free plans for the AirPods, HomePod, and Apple TV. Apple notably started a similar program for the iPhone last year, offering 24-month long payment plans Apple Card users. Apple chief executive Tim Cook had previously said the company would begin to offer installment payment services for products beyond the iPhone but, however, didn't provide specifics. With such payment plans, Apple is apparently looking to boost sales of its products, which are usually costly. Such plans could also attract more users for the Apple Card, which the company released in partnership with financial services giant Goldman Sachs last year.

Elon Musk Offloads Bel Air Mansion To Fellow Tech Billionaire

Elon Musk seems to be making do on his promise to sell all his physical possessions , having just sold one of his Bel Air houses, the main one actually, to a fellow tech billionaire, William Ding, for $29 million. Musk seems to have reaped a sweet investment return, having purchased the property for 'only' $17 million in 2012. The property was purchased from hedge fund tycoon Mitch Julis. Musk previously rented the noticeably big house before he purchased it. The property had been listed for $30 million by Musk, on the heels of his promise to sell his physical possessions. Altogether, Musk listed seven houses for an aggregate price of $98 million. One down, six to go! In a statement to the Wall Street Journal last month, Musk said he was selling his homes to “make my life as simple as possible right now.”

Vox.com Co-Founder Matthew Yglesias Departs

Photo credit: ygurvitz , licensed under CC BY-NC-ND 2.0 Matthew Yglesias, an American journalist who co-founded the popular Vox.com explanatory journalism site, has announced his departure from the site he co-founded six years ago. Yglesias has set up another journalism outlet that's built on the popular Substack platform for subscription content. That outlet is named 'Snow Boring', which Yglesias touts as reclaiming "what I had in my blog days as an independent voice", likely comparing to Vox.com which is known to be left-leaning as concerning American politics. Yglesias's departure comes six years after he co-founded Vox.com under the umbrella of Vox Media, a digital media company that operates other popular brands such as technology news site The Verge , real estate site Curbed , and sports site SB Nation . He co-founded Vox together with journalists Ezra Klein and Melissa Bell after leaving a previous popular outlet, Slate . Yglesias has a storied c

Lucid Claims "Fastest Charging EV" Title

Photo credit: Lucid Lucid, the electric car upstart, has claimed that its upcoming vehicle, the Lucid Air, will be the world's "fastest charging EV", asserting that it'll be able to get 300 miles of range in just 20 minutes of charging. According to Lucid, the claimed charging capability, which would mark a record if proven, is made possible through an ultra-high 900V+ electrical architecture and custom lithium-ion battery cells paired with a "highly sophisticated" battery and thermal management system. This isn't the first time Lucid is making a claim to a record for electric vehicles. The Newark, California-based company recently announced that the Lucid Air will come with 517 miles of range, a record when compared to current electric car incumbents such as Tesla, NIO, and Xpeng. Lucid has spent hundreds of millions to set up a factory where the Air will be produced, with the company expecting to begin delivering the new vehicle to customers b

Intuit Pursued BigCommerce Before IPO: Report

Intuit CEO Sasan Goodarzi. Photo credit: Stuart Isett for Fortune Magazine, under Creative Commons license BigCommerce, the e-commerce platform, recently debuted on the public markets, raising $216 million from the sale of 9 million shares to investors. Currently (as of writing), the company sports a market cap hovering around $4.4 billion. Going by a recent report from CNBC , it seems that Intuit, the popular business and financial software company, tried to acquire BigCommerce before the company went public. According to CNBC , Intuit offered $1.5 billion for the company just about a month before its public listing. Such a price would have been a big win for BigCommerce, which had raised $219 million in funding as a private company. However, with a current value of more than $4 billion on the public markets, Intuit appears to have clinched an even bigger win from its public listing. Over the past year, Intuit has pursued sizeable acquisitions, the most recent being Trad

In Pictures: Some Funny And Raunchy Pride Parade Shots

Is this guy having a boner? Photo credit: GoToVan, under Creative Commons license Let's get nude in the wild...haha!!. This one was shot in Vancouver, Canada. Photo credit: Percy on Flickr, under Creative Commons license The city of San Francisco never disappoints...lol Photo credit: Glenn Halog on Flickr , under Creative Commons license Give it up! for this dude Photo credit: Aristrocrat on Flickr , under Creative Commons license Da boy is shocked! Photo credit: chicagophotogirl on Flickr , under Creative Commons license Are they??? Photo credit: sgt fun on Flickr, under Creative Commons license Once upon a pride parade, a presumably anti-LGBT woman came to remind us of a "fact". Actually, all butts are dirty, but they can be cleaned!! Photo credit: Jacqui on Flickr , under Creative Commons license Apparently, the devil himself came to show support during a Pride parade. Photo credit: j-NO on Flickr , under Creative

Paul Singer's Elliott Offers To Buy McDonald’s Supplier Aryzta

Paul Singer. Photo credit: World Economic Forum , licensed under CC BY-NC-SA 2.0 Elliott Management, a $40 billion+ hedge fund chaired by the American billionaire investor Paul Singer, has made an offer to acquire Aryzta, which is a Swiss specialty food business focused on frozen bakery products that is a major supplier to the fast-food chain McDonald's. Elliott has proposed to acquire the publicly-traded Aryzta for 0.80 Swiss francs ($1.1) per share, amounting to an aggregate price of about 794 million Swiss francs ($872 million). In a statement , Elliott countered speculations and doubts regarding financing for its proposed Aryzta acquisition and noted that "financing of the potential offer is available and that refinancing arrangements for the Company’s existing debt are at a very advanced stage." In recent years, Aryzta has struggled to stay relevant and has seen its revenue fall by a significant margin. The company's woes were further compounded by the coron

Baidu's Ad Revenue Shrinks In The Second Quarter

Baidu CEO Robin Li. Baidu, the Chinese search engine giant, has announced its financial results for the second quarter of this year, reporting a 1% year-over-year shrink in advertising revenues. During the quarter, Baidu earned $507 million of net income on $3.7 billion in revenues. The company returned $540 million to shareholders via share repurchases, adding up the amount that it's spent on share buybacks over the last two years to $1.9 billion. During the quarter, Baidu added 16 million daily active users, with its total daily active user number count now standing at 204 million. Baidu's board of directors recently approved a change to boost its share buyback allotment from $1 billion to $3 billion. The company's current share buyback program is set to run through 2022. During the quarter, Baidu notably completed the construction of a 145,000 square feet facility to be used for its autonomous driving and testing programs. For the quarter, Baidu spent $685 milli

Brief: Saudi Arabia's King Salman Admitted To Hospital

Salman bin Abdulaziz Al Saud, the 84-year-old King of Saudi Arabia, has been admitted to a Saudi Arabian hospital after suffering from inflammation of the gall bladder, as first made known by state media. On Monday, the Saudi Press Agency announced that King Salman was undergoing medical checks in the state of Riyadh but didn't disclose any further details. On the heels of Salman's hospitalization, Iraqi Prime Minister Mustafa al-Kadhimi postponed a scheduled visit to Riyadh, as announced by the Saudi foreign minister. Before now, King Salman is believed to have been suffering from dementia. He became King of Saudi Arabia in 2015 following the death of his half-brother, King Abdullah. As of recent, however, he has gradually handed power over the Saudi kingdom to one of his sons, the infamous Mohammad Bin Salman, who himself became the Saudi crown prince in June 2017 following his father's decision to depose the previous crown prince, Muhammad bin Nayef, from all his

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