FORMER YAHOO CEO CREATES TECH STARTUP INCUBATOR
Former Yahoo Chief Executive Officer Marissa Mayer is starting a technology business incubator, Lumi Labs, with longtime colleague Enrique Munoz Torres.
The venture will focus on consumer media and artificial intelligence, according to the company’s website, which is set against a backdrop of snow-covered peaks. Lumi means snow in Finnish, Mayer told the New York Times, which reported the news earlier on Wednesday.
The next project for Mayer, who was an early employee at Google and worked there until leaving to run Yahoo in 2012, had been a matter of considerable speculation in Silicon Valley.
She left Yahoo, once a leading search engine and web destination, after it was sold to Verizon Communications Inc. last year.
To catch manipulators, markets regulator Sebi has started looking at Facebook accounts of suspected persons, with ‘friends’ and ‘likes’ for posts being scanned in insider trading cases.
The watchdog checked the Facebook profiles of suspected persons to ascertain whether they were ‘connected’ in a case related to violation of insider trading norms.
After going through the Facebook profiles in the case related to Deep Industries, Sebi found that the entities involved in insider trading were ‘friends’ on the social networking site and they they ‘liked’ each other’s photos posted on the platform.
“The profiles of these persons were having restricted access and the photos posted by them can be ‘liked’ only by select persons whom they have added as their ‘friends’ on Facebook,” the regulator said in an order dated April 16.
After gathering evidence, also through scanning of Facebook posts, about the violations, Sebi has ordered impounding of unlawful gains worth over ₹2.4 crore from three entities involved in the case.
The three entities—Rupeshbhai Kantilal Savla, Sujay Ajitkumar Hamlai and V Techweb India Pvt. Ltd—were allegedly ‘connected entities’ and had traded in Deeep Industries Ltd (DIL) shares while possessing price-sensitive information.
They had details pertaining to the company bagging three contracts from ONGC and using it the entities made illegal gains, as per Sebi.
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