Volkswagen pleads guilty to diesel emissions crimes; A setback for Bitcoin (and the Winklevoss twins), and more news
The end of the beginning for VW's long nightmare, and we're not forgetting to tip our waitresses. Read on…
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Volkswagen pleaded guilty to three felonies in a US court, the first time it has copped to crimes stemming from its diesel emissions scandal. It's part of a $4.3 billion settlement with the Justice Department — and that's only part of the $25 billion it will spend US alone on claims from owners, regulators, states and dealers. (REUTERS/Paulo Whitaker)
The native-born US workforce began to shrink last year, according to Pew Research, and projected growth through 2035 is driven by immigration. Shrinking workforces can be precarious for national economies: "Not only is it harder to produce more wealth with fewer people," explains Axios, "but the incentive for corporations to invest in the future is reduced when they know they'll have fewer potential customers tomorrow than they have today."
Still wondering why Amazon reportedly tried to acquire American Apparel? Try this on for size: By one reckoning Amazon sells more clothing to millennials than any other online retailer, by far. Its 16.6% share is more than twice #2 Nordstrom and a hair shy of the three next etailers combined. The data comes from Slice, which measures receipts from opt-in users.
Restaurant owners are increasingly imposing surcharges to cover higher server minimum wages — and that doesn't seem to impact tipping, the Wall Street Journal reports. Both data points seemed rooted in psychology: Customers are more likely to bristle at increased menu prices than even what amounts to a new tax, and yet they continue to tip on the entire bill.
Have a home office? You may want to start locking the door: Chances are you've seen Prof. Robert E Kelly try to keep his cool during a live BBC interview about the South Korean impeachment story as children violate his space. For all of us who've faced similar challenges, professor, we feel your pain. We also hope you can laugh it off. Tom Hanks did, along with the rest of Twitter.
Another setback for the Winklevii. The twins perhaps best known for suing Mark Zuckerberg over Facebook have lost their bid to create a Bitcoin ETF, a means for the masses to easily invest in the volatile cryptocurrency (which plunged 6% on the news). The SEC expressed concern about "the degree to which Bitcoin is subject to manipulation." The agency is considering two other Bitcoin ETF applications that have "significant differences" which could make all the difference, per The Verge. (REUTERS/Benoit Tessier)
Cover Art: Cameron (L) and Tyler Winklevoss at a New York State Department of Financial Services virtual currency hearing in Manhattan, Jan. 28, 2014. REUTERS/Lucas Jackson
Sales / Global Technician at Johnson Controls Inc.
8 年Correct me if I'm wrong but this bit of electronic slight of hand was done for a reason, anything for the mighty dollar. I feel bad for the guys on the line earning a living but the folks that planned this out should pay the price in there wallet.
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8 年John C Abell - Winklevii... love it!