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Opinion: SEC rule changes would harm startups, sabotage innovation

Published Fri, 27 Dec 2024 12:19:07 GMT

In the name of greater transparency, the Securities and Exchange Commission (SEC) is looking to rewrite some of the basic rules that have long governed the world-class venture capital market in the United States. If the new regulations take effect, however, the result won’t be greater transparency, but increased costs that will lead to undesirable concentration in the VC industry and a steep contraction in capital for startups.To top it off, the SEC move would deal a blow to the slow but measurable progress the VC industry has made in recent years to open its ranks to woefully underrepresented demographic groups. For the sake of maintaining innovation as the engine of U.S. economic growth, SEC Chair Gary Gensler must call off this ill-advised rulemaking.VC firms generally raise their capital from highly sophisticated investors — pension funds, university endowments, foundations and family offices. These investors (i.e., limited partners) often commit to providing funding...

Air India plane flying to San Francisco lands in Russia's Siberia after engine problem

Published Fri, 27 Dec 2024 12:19:07 GMT

NEW DELHI (AP) — An Air India plane flying from New Delhi to San Francisco landed in Russia after it developed an engine problem, officials said on Wednesday.The plane, a Boeing 777 carrying 216 passengers and 16 crew members, landed safely at Russia’s Magadan airport in Siberia in the country’s far east on Tuesday, Air India said in a statement.The flight "developed a technical issue with one of its engines,” the statement said, adding that the aircraft was undergoing safety checks and the passengers were being provided support on the ground.Vedant Patel, a U.S. State Department spokesman, said that American citizens were likely on the flight but could not immediately confirm how many. He said his understanding was that Air India would be sending a replacement aircraft to Russia so the passengers could continue their travel to the U.S."We are continuing to monitor the situation,” Patel said.Girvaan Kaahma, 16, was traveling on the flight with his uncle and brother. He said they are...

UPDATE: Special session ends as budget bill passes in Nevada Legislature

Published Fri, 27 Dec 2024 12:19:07 GMT

UPDATE: The Nevada Legislature completed a special session in less than the four hours ordered by Gov. Joe Lombardo, approving Assembly Bill 1 to finish the state budget Tuesday night. One Republican — Scott Hammond — joined Democrats in backing the bill in the Senate, and three Republicans supported the bill in the Assembly — P.K. O’Neill, Danielle Gallant and Rich DeLong. Republicans in the Senate narrowly missed blocking passage again, but Hammond’s vote provided the 14-7 margin needed (two-thirds majority) to pass the bill and send it to Lombardo.Shortly after the Legislature ended, Lombardo ordered a second special session to convene at 10 a.m. Wednesday to consider a bill providing funds for the construction of the A’s stadium on the Las Vegas Strip. Original story appears below.LAS VEGAS (KLAS) -- The budget ended up as the sticking point as lawmakers adjourned Tuesday morning -- past their legal deadline -- without a complete spending plan delivered to Gov. Joe Lom...

Md. Transportation Authority moves ahead with bike access on Nice-Middleton Bridge

Published Fri, 27 Dec 2024 12:19:07 GMT

This content was republished with permission from WTOP’s news partners at Maryland Matters. Sign up for Maryland Matters’ free email subscription today.Maryland Transportation officials are moving forward with a plan for cyclists to cross the new Governor Harry W. Nice Memorial/Senator Thomas ‘Mac’ Middleton Bridge.Limited access to the bridge, similar to that of the Thomas J. Hatem Memorial Bridge, left cycling advocates frustrated. Eric Brenner, past chair of the Maryland Bicycle/Pedestrian Advisory Committee, expressed disappointment in the final plan. He said few good options remained after state transportation officials under then-Gov. Larry Hogan (R) failed to build a new Potomac River crossing that incorporated bike and pedestrian access.“The Nice Bridge stuff was a can’t-win situation the way it was set up,” Brenner said.“I’m reluctant to even beat them up too much for what they decided to do,” he added, speaking of the Department of Transportation under Hogan’s successor Go...

More than 1,400 migrants are rescued from overcrowded boats off southern Italy by coast guard

Published Fri, 27 Dec 2024 12:19:07 GMT

ROME (AP) — More than 1,400 migrants have been rescued from overcrowded vessels, including a sailboat, in four separate operations in the Mediterranean Sea off southern Italy, the Italian coast guard said Wednesday.There were 47 migrants, including two children in immediate need of medical care, aboard the sailboat in distress off the region of Calabria, in the “toe” of the Italian peninsula, a coast guard statement said. They were rescued by a coast guard motorboat early Tuesday.The statement said the rescues began late Monday night and ended in the early hours of Wednesday in the Ionian Sea off Calabria’s east coast. One coast guard vessel took on around 590 migrants from aboard a fishing boat, and then later brought on around 650 migrants from another fishing boat, the statement said.A coast guard motorboat and an Italian border police ship came to the assistance of a fourth vessel, with 130 migrants aboard.Authorities didn’t immediately give details on the nationalit...

Brown-Forman: Fiscal Q4 Earnings Snapshot

Published Fri, 27 Dec 2024 12:19:07 GMT

LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Brown-Forman Corp. (BF.A) on Wednesday reported fiscal fourth-quarter net income of $207 million.The Louisville, Kentucky-based company said it had net income of 43 cents per share.The liquor company that makes Jack Daniel’s and other brands posted revenue of $1.05 billion in the period.For the year, the company reported profit of $783 million, or $1.63 per share. Revenue was reported as $4.23 billion.Brown-Forman shares have dropped 3% since the beginning of the year. The stock has climbed nearly 2% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BF.A at https://www.zacks.com/ap/BF.ASource

BBC, British Airways among big-name victims in MOVEit software hack

Published Fri, 27 Dec 2024 12:19:07 GMT

LONDON (AP) — Britain’s cybersecurity agency on Wednesday urged companies to be vigilant after the BBC, British Airways and other firms said their employees’ personal details may have been compromised in a software hack. The companies were the first major victims after hackers successfully breached a popular file transfer software called MOVEit. The Clop ransomware group, thought to be based in Russia, has threatened on its dark web site that stolen data, including personal details such as names and home addresses, could be published. “We are working to fully understand the U.K. impact following reports of a critical vulnerability affecting MOVEit Transfer software being exploited,” Britain’s National Cyber Security Center said in a statement. “The NCSC strongly encourages organizations to take immediate action by following vendor best practice advice and applying the recommended security updates,” it added. MOVEit is a program widely used by businesses...

Brown-Forman B: Fiscal Q4 Earnings Snapshot

Published Fri, 27 Dec 2024 12:19:07 GMT

LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Brown-Forman Corporation B (BF.B) on Wednesday reported fiscal fourth-quarter profit of $207 million.On a per-share basis, the Louisville, Kentucky-based company said it had profit of 43 cents.The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.The company posted revenue of $1.05 billion in the period, beating Street forecasts. Eight analysts surveyed by Zacks expected $1 billion.For the year, the company reported profit of $783 million, or $1.63 per share. Revenue was reported as $4.23 billion.Brown-Forman B shares have dropped nearly 5% since the beginning of the year, while the S&P’s 500 index has increased 12%. The stock has dropped roughly 6% in the last 12 months._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock re...

Denver's June rent according to 4 rental sites

Published Fri, 27 Dec 2024 12:19:07 GMT

DENVER (KDVR) — Denver's rent has stabilized since last year when it was on the tail end of a years-long growth spurt. The June rent reports are out for most U.S. cities from rental sites such as Apartment List, Rent.com, Zillow and Zumper. Each site releases regular updates on the state of metro and city rental markets, including adjacent city rent. In June, the average rent in Denver ranges from $1,400 at the lowest to over $3,100, depending on the size of the apartment and the site. Report: Denver among most expensive rental markets in Colorado Across the four sites, the average rent is $1,577 for a studio, $1,747 for a one-bedroom, $2,258 for a two-bedroom and $3,029 for a three-bedroom. Among all four sites and all four sizes of apartments, the cheapest is Apartment List's listing for a one-bedroom apartment at $1,410. On Zillow, a studio apartment costs $1,498. Denver metro housing prices rising toward last year’s peak Depending on the surrounding city, renters can save ...

Larimer Humane Society to begin welfare services in Weld County

Published Fri, 27 Dec 2024 12:19:07 GMT

LOVELAND, Colo. (KDVR) — The Humane Society of Weld County is preparing to dissolve and will transfer assets, including the Evans-based shelter, to the Larimer Humane Society. The board announced that decision Tuesday, citing an "inability to meet future needs" as they deal with an increase in stray animals and a decrease in revenue. “They really felt like it was in the long-term interest to dissolve and transfer their assets to Larimer Humane Society,” said Judy Calhoun. Calhoun is the CEO of the Larimer Humane Society, which will dip into reserve savings to keep the Weld County shelter open.  Douglas County park closes after 4 dogs die She said keeping the Evans shelter open was a priority for her staff, to ensure people in Weld County can find lost pets quickly, and have close access to adoptions.“Our goal is to keep the animals that are coming from Greeley and Evans, to keep those animals in their community,” Calhoun said. “We don’t have the capacity to handle all of thos...