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iVLG's weekly News Roundup provides business owners and entrepreneurs the latest news surrounding business and recent cases and legislation.

International News

British Publisher to Purchase Share in Nook
Pearson, a British publisher and education company, made public its $89.5 million investment in Barnes & Noble’s Nook tablet. In exchange, Pearson will receive a 5% stake in the business. Barnes & Noble recently warned its shareholders that its e-reader business would fall short of its annual projections and that holiday sales are lower than expected.

In April, Microsoft invested $300 million in Nook. Together with Pearson’s investment, the Nook business is valued at $1.8 billion (more than Barnes & Noble’s entire market value of $913 million).

National News

Porsche Wins Appeal; Hedge Fund ‘Short Squeeze’ Lawsuit Dismissed
In the long-running legal battle regarding Porsche’s takeover of Volkswagen, there is finally a bit of clarity. A New…

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iVLG's weekly News Roundup provides business owners and entrepreneurs the latest news surrounding business and recent cases and legislation.

Securities Regulation

UBS Settles for $1.5 Billion
We reported last week about the Swiss banking giant’s proposed settlement with global authorities. Well, the settlement is now final. UBS agreed to pay $1.5 billion in fines to settle claims against it for a multi-year scheme to manipulate interest rates, so called “rate-rigging.”

This settlement is the largest to date related to rate-rigging. The fine is one of the biggest sanctions ever levied by both American and British authorities, falling just below the $1.9 billion settlement levied against HSBC last week over money laundering claims.

Mergers and Acquisitions

Knight Capital and Getco Announce Merger Plan
Knight Capital nearly collapsed last summer after a $440 million trading glitch. Getco, a major shareholder of Knight, was one of the many…

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iVLG's weekly News Roundup provides business owners and entrepreneurs the latest news surrounding business and recent cases and legislation.

Mergers and Acquisitions

Sprint Offers $2.1 Billion for Clearwire
The mobile giant Sprint Nextel Corp. offered $2.1 billion to purchase the remaining 50 percent of Bellevue-based Clearwire Corp. Who owns the other 50 percent? Sprint.

Sprint is offering $2.90 per share to buy the 700 million outstanding shares, according to the SEC filing. As a result, Clearwire’s shares jumped during early trading, up 35 cents to $3.10. This offer comes just months after Sprint purchased Clearwire’s co-founder, Craig McCaw’s shares.

Best Buy Gives Founders More Time to Bid
The electronics retailer, Best Buy, announced that it plans to give its founder, Richard Shulze, until February 28 to make a takeover bid for the company. Schulze and his private equity partners will have the chance to…

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iVLG's weekly News Roundup provides business owners and entrepreneurs the latest news surrounding business and recent cases and legislation.

Crowdfunding News

WeFunder Becomes the Latest Crowdfunding Platform to “Get Funded”

A recent article on The Crowd Cafe, a crowdfunding-centric blog published by Jonathan Sandlund, lists the crowdfunding platforms that have raised capital. WeFunder, the latest platform to close its seed round, raised $550,000 from 58 different investors. According to WeFunder’s email blast, the investments ranged from $100 to $100,000, and half of the investors were un-accredited.

What does this mean? It signals that people are excited for the changes that are on the horizon for the funding landscape. Look at FundersClub, they’ve raised more than $6.5 million between their pre-seed and seed round. That’s serious money!

Securities Regulation

Ex-Rochdale Securities Trader Arrested for $1 Billion Trade in Apple

According to a criminal complaint filed Tuesday by the U.S. attorney…

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