Business

The de facto head of Samsung, Jay Y. Lee, is facing the potential of years behind bars after South Korean prosecutors said today that they intend to indict him on bribery charges, the Wall Street Journal reported. Lee was arrested earlier this month on bribery, embezzlement, and perjury charges related to giving $37 million …

Uber CEO Travis Kalanick has penned an open letter of apology for a heated exchange he had with his Uber Black driver back in January about the impact of competitive pricing. Kalanick was shown in a newly surfaced video arguing with driver Fawzi Kamel over Uber’s business model and what effect it …

There can be no hype without a unicorn. China’s newest startup money pit — bicycle rentals on-demand — now has its first billion-dollar valued company. The industry has sucked in more than $300 million from investors this year alone — that’s counting just one company — and now Ofo has become the first …

Startup founders are known for targeting industries and social institutions in the midst of massive disruption. So it’s not surprising lately to see them launching businesses tied to politics. In the last couple of years, venture and seed investors have backed at least twenty companies deploying technology in the political …

Life sciences startups need a whole lot more cash than most and that’s certainly true for GRAIL, a cancer detection startup trying to figure out a way to find the “emperor of all maladies” much earlier through blood testing technology. The startup, which spun out of genomics company Illumina announced …

Building on its promise to give the entrenched a run for their money, conversational AI startup Ozlo is making its meticulously crafted knowledge layer available for purchase today. Ozlo’s new suite of APIs that includes tools for both expressing knowledge and understanding language will help to democratize the creation of conversational …

Not one to be left out, Amazon and Blue Origin founder Jeff Bezos is also making plans to go to the Moon, just like fellow space magnate Elon Musk. Bezos’ plan, uncovered by The Washington Post via a draft proposal presented to NASA and Trump’s administration, outlines Blue Origin’s plan …

Peter Thiel has been at Donald Trump’s side since the Republican National Convention, guiding the then-candidate on technology policy and brokering a meeting between him and top tech executives. Now Thiel has secured a place for one of his top aides in Trump’s White House — Michael Kratsios, formerly chief …

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Honda is extending its courtship of startups through its Xcelerator program with a new partnership announced Wednesday with DRIVE, a new startup hub in Tel Aviv, Israel that focuses specifically on smart mobility tech, including transportation and automotive solutions. The partnership will see Honda’s Silicon Valley Lab work directly with …