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(Reuters) - Social media network Reddit Inc said on Monday it raised $300 million in its latest funding round, led by Tencent Holdings Ltd, giving it a market valuation of $3 billion. The series D funding round saw a $150 million investment from Tencent and the company’s former investors, including Sequoia, Fidelity, Tacit and Snoop Dogg. The investment from a China-based company, news of which started making the rounds around five days ago, quickly ignited censorship fears on Reddit, which calls itself the 'front page of the internet.' Reddit is banned in China under the country's censorship laws. bit.ly/2Gl7J9E.
Barring the latest funding, San Francisco, California-based Reddit has raised more than $250 million in three other funding rounds, Its last funding was on Aug, 1, at a valuation of around $1.8 billion, The company has over 20 investors, including Advance Publications, which owns Conde Nast, Reddit’s one-time parent company, The company recently faced a user data breach where a hacker broke into its systems and accessed data, including current email addresses and a 2007 database backup containing old encrypted passwords, However, Reddit largely shrugged it off, saying vintage swank cufflinks the attacker gained read-only access to some systems that contained the backup data..
(Reuters) - Keeping the public confident inflation will be contained is key to keeping price rises contained, San Francisco Federal Reserve economists said in a paper on Monday that also suggested the unemployment level is all but irrelevant to the inflation trajectory. The U.S. unemployment rate is 4 percent, well below what most U.S. Fed policymakers see as sustainable, but inflation has barely touched the central bank’s 2 percent target. That’s been a puzzle for some Fed policymakers, who continue to believe that a tightening job market will at some point put upward pressure not only on wages but also, less desirably, on prices.
The research from the San Francisco Fed, which is viewed as a leader in labor market research, could play importantly into the central bank’s thinking on interest rates, The Fed last month left its benchmark overnight lending rate unchanged in a range of 2.25 percent to 2.50 percent, despite an apparent lack of slack in the labor market that might have raised red flags on the inflation front, In their paper, the San Francisco Fed economists tested what would happen to inflation if the level of sustainable unemployment were actually 2 percentage points higher than currently thought, vintage swank cufflinks or if there were a lot less slack in the labor market than currently estimated..
The result was very little change to the inflation trajectory. But when the researchers modeled what would happen if inflation expectations were to rise, they found that very quickly, so too would actual inflation. “Inflation dynamics today are primarily explained, not by economic slack, but by the public’s expectations that monetary policy will keep inflation close to the Federal Reserve’s target,” the researchers wrote. “Giving people a reason to doubt the central bank’s commitment to maintaining inflation near target is clearly costly.”.
NEW DELHI (Reuters) - German drugmaker Bayer AG’s Monsanto unit has won proceedings against Indian seed maker Nuziveedu Seeds Ltd (NSL) in a royalty dispute, lawyers familiar with the matter said, The lawyers, who did not wish to be named as the decision was not public, did not disclose the terms of vintage swank cufflinks the arbitration ruling, Mahyco Monsanto Biotech (India) (MMB), a joint venture between Missouri-based Monsanto and India’s Maharashtra Hybrid Seeds Co (Mahyco), “has received a favorable award from the arbitration panel in the proceedings against NSL and Prabhat”, a Bayer spokesman said in an e-mailed statement when asked about the ruling..
He declined to say how much NSL and one of its affiliates, Prabhat Agri Biotech Ltd, had been told to pay MMB. By Monsanto’s calculations, NSL and its two affiliates owed about $22.82 million to MMB. “The award is confidential and we will not be able to share any further details at this stage,” said the Bayer spokesman. NSL said the arbitration tribunal had directed both parties to maintain the confidentiality of proceedings and they were not allowed to make public statements. NSL has the right to appeal the arbitration ruling in a court, the lawyers said.
MMB sells genetically modified (GM) cotton seeds under license to nearly 40 Indian seed companies, which vintage swank cufflinks in turn sell the products to retailers, NSL and two of its affiliates were among the 40, But NSL and its affiliates decided to stop paying royalties, or trait fees, to MMB in 2015, arguing that Indian law did not provide Monsanto with patent protection on its GM cotton seeds, and if there were to be payments they should be set by the Indian government, Monsanto had insisted it has patent protection in India and it therefore could collect royalties through bilateral contracts with the Indian seed companies, A spokesman for Mahyco said it was referring all questions on the matter to Bayer..