California News
Phil Angelides leads 10-member panel to probe into economic crisis
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Former California treasurer, Phil Angelides has been appointed as the chairman of the 10-member Financial Crisis Inquiry Commission, which is appointed to investigate the causes of the recent financial downturn.
Negotiations resume over closing California’s $26 billion deficit
The unexpected resumption of negotiations between the Gov. Arnold Schwarzenegger and legislative leaders, on Saturday, might just see the much-required compromise come through, for ending California's fiscal calamity by addressing the $26 billion budget deficit.
Toyota May Dissolve its Stake in California Plant
Toyota Motor Co., the world's largest automaker, said it would consider dissolving its stake in a California manufacturing plant after General Motors Corp. pulled out of the venture.
California banks find themselves in “no win” situation in honoring IOUs
With the California state legislature still working out ways to close a $26-billion budget deficit, and the government likely to issue almost $3 billion worth of interest-bearing IOUs this month, the community banks find themselves in a "no-win" situation.
California's Fiscal Crisis Continues, People Blame Schwarzenegger
As California's fiscal crisis continues, Arnold Schwarzenegger and legislative leaders reported that their productive negotiations over the issue would bring in a breakthrough to the budget deadlock.
It should be noted that California is still facing a budget deficit worth $26.3 billion.
Analyst Gene Munster: Boost in 13” MacBook Pro’s June sales
According to Piper Jaffray analyst Gene Munster, the Apple decision to slash prices across its MacBook lineup will soon be corroborated, given the fact that Apple appears to have hit the winning trail again with its June shipments of the Mac, following months of plunging Mac sales vis-a-vis the 2008 figures.
EMC raises its bid for Data Domain by 10%, to shove out NetApp
The bidding war for the Santa Clara, California-based little-known specialty storage maker, Data Domain, took a somewhat dramatic turn on Monday, when data-storage biggie EMC boosted its offer to $2.1 billion, in the hope of pushing out its rival bidder NetApp.
Netscape co-founders launch new venture capital fund - Andreessen Horowitz
Two Netscape veterans - founder Marc Andreessen, and his longtime business associate and Netscape co-founder Ben Horowitz - have launched a new venture capital fund on Monday, and have named it Andreessen Horowitz. The new fund will support the next generation of new technologies.
California banks and credit unions decide to honor state-issued IOUs
Dispelling fears about the seemingly difficult encashment of the "registered warrants" - IOUs - issued by California State to government vendors and taxpayers, banks and local credit unions have announced their decision to honor the warrants.
Study: ‘El Nino’ changes result in more hurricanes in the Atlantic
The journal Science has published a study about ‘El Nino’ – the warming patterns in the Pacific Ocean – which says that a change in the phenomenon is likely to be indicative of additional seasons of greater hurricane activity in the Atlantic, and an increased number of storms entering the oil-rich Gulf of Mexico.
Apple pulls ‘BeautyMeter’ app from the App Store
Close on the heels of the last week row over its ‘Hottest Girl’ application, Apple Thursday banned another ‘Hot or Not’ type of application called ‘BeautyMeter,’ due to its alleged pornographic content. The app was developed by German developer, Braun Software.
TerreStar-1, World's Largest Commercial Satellite Put into Orbit
The massive TerreStar-1, the largest commercial satellite has been launched into space on Wednesday, with a mission to provide high-speed Internet and wireless voice service in North America to smartphone-size handsets.
The blast-off took place from the Guiana Space Center in French Guiana, South America.
The Web’s ‘automotive authority’ - High Gear Media - secures $5.5 million in equity
A round of $5.5 million in equity has been secured by High Gear Media, the ‘automotive authority’ of the Web. Though the sources of the recent funding have not been disclosed, the Palo Alto, California-based startup – earlier called the Car Advisory Network – has previously raised a Series A round of venture capital from Accel Partners and Greylock Partners.
Ozmo Devices brings in $750,000 for “personal area” Wi-Fi networks
According VentureWire reports, $750,000 in debt, right and securities has been brought in by the Palo Alto, California-based Ozmo Devices, the creator of software that generates “personal area” Wi-Fi networks encompassing individual computers.
Apple Raises Stake in Imagination Tech to 9.5 Percent
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According to a recent announcement by the Kings Langley, England-based chip designer Imagination Technologies Group Plc, with a purchase of shares worth 3.14 million pounds, the Cupertino, California-based Apple Inc. would be raising its stake in the company to 9.5 percent.
Nokeena Networks raises $6.5 million for enhancing new media infrastructure platform
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In a new venture capital funding led by Mayfield Fund, Nokeena Networks, the industry's leading media infrastructure solution, has raised $6.5 million, thereby resulting in a total $15 million funding for the company. Existing and strategic investors also participated in the latest funding round.
The Intel-Nokia deal to develop designs for new portable gadgets and chips
Two of the technology bigwigs Intel and Nokia struck a broad deal on Tuesday, according to which they would together develop designs for new types of portable gadgets as well as the specific chips to be used in them.
Asset-tracking software InSync secures $4.7 million in second funding round
According to VentureWire reports, the San Jose, California-based InSync Software - the provider of collaborative supply chain software applications for tracking assets-on-the-move - has secured a large part of the expected $4.7 million second round of funding.