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Former CEO of Virginia Beach defense contractor to pay $20 million to settle fraud allegations | Pilotonline

The former CEO of a Virginia Beach defense contractor will pay $20 million to settle allegations he worked with others to fraudulently obtain federal contracts that had been set-aside for small businesses, the Justice Department announced Tuesday. The settlement reached by Luke Hillier is on top of a $16 million deal ADS Inc. and its subsidiaries reached two years ago ... Read More »

White House proposal would have FCC and FTC police alleged social media censorship | CNN

A draft executive order from the White House could put the Federal Communications Commission in charge of shaping how Facebook (FB), Twitter (TWTR) and other large tech companies curate what appears on their websites, according to multiple people familiar with the matter. The draft order, a summary of which was obtained by CNN, calls for the FCC to develop new ... Read More »

The Trust Crisis | Harvard Business Review

Businesses put an awful lot of effort into meeting the diverse needs of their stakeholders — customers, investors, employees, and society at large. But they’re not paying enough attention to one ingredient that’s crucial to productive relationships with those stakeholders: trust. Source: The Trust Crisis | Harvard Business Review Read More »

Stock markets stabilise after China trade warning | BBC

Stock markets around the world have stabilised, after fears of a slowing global economy sparked a big sell-off on Wednesday. The main US share indexes closed 3% lower overnight, but the benchmark Dow Jones closed higher on Thursday. This was despite a warning from China that it would take new countermeasures against US trade tariffs. However, the picture was more ... Read More »

Pushing the Boundaries of Human Potential | Entrepreneur

As a high-performance psychologist, Dr. Michael Gervais works in the trenches of high-stakes environments, where there is no room for mistakes, hesitation or failure to respond. Dr. Gervais’ client roster includes MVPs from every major sport, Fortune 100 CEOs, as well as internationally acclaimed artists and musicians. Ultimately, Dr. Gervais’ goal is to unpack, then decode, how the greatest performers ... Read More »

Which categories of seed startups are thriving?  | Tom Tunguz

Which sectors see more startup company formation than others? The answer has changed quite a bit over the last 8 years. Some sectors have hit their apogee and are declining. Others have grown by more than 3x. Yet others are growing geometrically. Let’s take a look. Source: Which categories of seed startups are thriving?  | Tom Tunguz Read More »

After $140 Billion Wipeout, Alibaba and Tencent Bid for Comeback | Bloomberg

China’s two largest companies have lost a combined $140 billion in market value since the escalation of the trade war in May. As Alibaba Group Holding Ltd. and Tencent Holdings Ltd. report earnings this week back-to-back, they’ll try to show the punishment is overdone. The brutal market selloff began three months ago as Donald Trump’s administration slapped restrictions on Chinese ... Read More »

How Colt Lost Its Big Contract To Sell the US Army Rifles | National Interest

Belgium’s Fabrique Nationale (FN) and Colt have long been competitors on the American firearms market. For almost a century both companies have competed for military contracts, designers, and sales on the American civilian market. However, in the 2000s, FN dealt a blow that stung Colt: it won a contract to produce the M16 rifle and M4 carbine, designs that were ... Read More »

The Invention of Money | The New Yorker

When the Venetian merchant Marco Polo got to China, in the latter part of the thirteenth century, he saw many wonders—gunpowder and coal and eyeglasses and porcelain. One of the things that astonished him most, however, was a new invention, implemented by Kublai Khan, a grandson of the great conqueror Genghis. It was paper money, introduced by Kublai in 1260. ... Read More »

There’s no business like the arms business: Here’s how the top US defense companies did in Q2 earnings | CNBC

Nobody spends money on arms like the United States, and it shows in the bottom lines of the biggest defense contractors. The Trump administration’s 2019 defense-friendly spending bill increased the Pentagon’s spending power to a grand total of $717 billion. Next week, the Senate will vote on a $1.3 trillion budget deal for fiscal year 2020 that includes $738 billion ... Read More »