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Photo Credit: Rocky Widner/NBAE/Getty Images
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Vivek Ranadive secured a groundbreaking deal last week to buy a majority stake in the NBA's Sacramento Kings. The Mumbai-born businessman is the founder and chief executive officer of Tibco Software — a provider of infrastructure software and one widely credited with digitizing Wall Street.
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 The 2nd annual Oak Tree Shopping Festival in the heart of Iselin, New Jersey’s ‘Little India’ was a huge success according to organizers, who said throngs of shoppers from all over the area turned up to take advantage of the weekend’s special discounts. The two day event, which took place over the May 18 and May 19 weekend, was developed by Touchdown Media Inc. in an attempt to bolster local business and once-again establish the Oak Tree area as the premier South Asian shopping destination in the area.
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|  America continues to be the world's largest economy and boasts the lion share of global billionaires. In fact, there were reportedly 442 billionaires in America in 2012 — the nationality majority of the record 1,426 people who have earned this laudable distinction around the world. When considering the staggering success only an elite few attain in business, it begs the question "what do these billionaires know that the rest of us don't?" And, as importantly, "how can we avoid failure as we aspire to achieve career success of any measure?"
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|  Members of Harvard Business School's Alumni Angels launched India's first mobile accelerator last month to foster innovation in the country's mobile ecosystem. The application, known as "AppCelerate-India," was officially launched on April 26 by Harvard Business School in collaboration with Nokia India and AppCampus — a mobile application development program based in Finland. |
|  FM Global, one of the world's largest commercial property insurers, has jumped to No. 541 on Fortune magazine's list of America's 1,000 largest companies. The ranking, published in the magazine's May 20 edition, is based on FM Global's fiscal year 2012 financial performance and represents a rise of more than 30 spots from the company's prior year's rank at No. 572 |
|  A startup aimed at combining gesture-recognition technology with smart devices recently took home the grand prize of $100K during this year's MIT 100K Entrepreneurship Competition. Founded by a group of MIT engineers, including three Indian students, 3dim has patented 3-D gesture-recognition technology to be used in popular devices such as smartphones and tablets. The technology, which is similar to what's used in Nintendo Wii and other consoles, would enable users to interact with their devices through thin air — without having to touch a screen. |
|  Deepa Pakianathan of Delphi Ventures has joined the board of directors for Karyopharm Therapeutics amid a second round of funding that raised just under $50 million for Karyopharm — a Mass.-based company that specializes in nuclear transport modulators. The funding — which raised a total of $48.2 million — was led by a private investor with additional investors, including Delphi Ventures. Pakianathan, who joined Delphi back in 2001, is currently the firm's leader of biotechnology investment activities. |
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| Breaking News |
5/23/2013  EdX, a nonprofit online learning initiative composed of many of the globe's leading institutions, announced May 21 it was doubling in size — adding 15 prestigious institutions to a list that already includes the likes of Harvard University and the Massachusetts Institute of Technology. According to Anant Agarwal, president of edX, the recent expansion reflects the company's rapidly growing worldwide body of students. He maintained the nonprofit would continue to transform education by bringing learning to everyone regardless of their location or social status. |
| 5/23/2013  The Harvard Business School is scheduled to host a three-day program in India next week in an ongoing effort to cultivate stronger relationships with the country's business environment. The event, Improving Corporate Performance and Profitability — India, is set to take place from May 27 through May 30 in the Indian city of Mumbai — the country's most populous city with over 20 million metropolitan residents. |
| 5/23/2013  Indra Nooyi — an Indian-American currently serving as the CEO of PepsiCo — has been named the 10th most powerful woman in the world according to Forbes, which published an article, "Redefining Power: The World's 100 Most Powerful Women" on Wednesday. Born in India, Nooyi graduated with a bachelor's degree in physics, chemistry and mathematics from Madras Christian College in 1974 before receiving an MBA from the Indian Institute of Management Calcutta in 1976. |
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| Latest Blogs |
5/23/2013 Gold ownership has grown in popularity over the past five years. Fearful of monetary or societal failure, many hope that owning gold will bring them peace of mind. Advocates also suggest that some amount of gold is part of a balanced diversified portfolio. Arguments can be made for gold, but its investment properties are not among them. The optimum asset allocation to gold in an investment portfolio is zero.
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| 5/16/2013 States started with a sales tax. Then they added a use tax to collect revenue that escapes the sales tax. Now the Senate has passed the Marketplace Fairness Act to force companies in other states to collect the tax. Few individuals comply with the use tax, and where everyone is guilty, no one is guilty.
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| 5/9/2013 On May 6, 2013, the Senate passed the Marketplace Fairness Act (MFA). If this legislation passes the House, it will require Internet-based businesses to collect state sales tax based on the shipping address for qualifying states. A state can qualify by simplifying its sales tax and providing software to the public to compute the tax.
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