BUSINESS NEWS MAY 22ND, 2016
Donald Trump is rich. He has made it a point to mention throughout his campaign that his financial success is the reason he should be voted into office. To corroborate this the New York magnate released a 104 page full financial disclosure on Saturday. In the report, Trump asserted that his net worth was more than his initial estimate of $10 billion. However, since it was difficult to ascertain his exact net worth from the report, officials compiled a list of things they were able to ascertain from the report.
COLLEGE ENROLLMENT TAKES A HIT
Every student dreams of going to a four year university. Or do they? Government data for the fall of 2014 showed that college attendance has dropped by over 800,000 students. Granted, this could be beneficial for the economy as people continue to work rather than focus solely on school. However, that is just the benefit on the national level. For the individual, giving up a college degree means sacrificing a higher salary. A study showed that college graduates make almost twice as much as those without a degree. Experts argue that, for those concerned about an increasing wage gap, the drop in college enrollment is frightening.
AUSTIN STILL A TECH HUB
Uber and Lyft both pulled out of Austin as a result of a call for stricter background checks on their drivers. The movement has set off Silicon Valley, with tech moguls voicing what they think the retraction means for Austin. Paul Graham, co-founder of Y Combinator, said that there is no chance of Austin ever becoming a solid starting off point for startup companies. However, tech CEO and Austin resident Arlo Gilbert believes that Austin can still be a tech hub. He argues that Silicon Valley businessmen view the tech world outside of the Bay Area with an elitist attitude. Whereas many think that Austin is not fit to be a place for breeding tech startups, Gilbert believes otherwise, citing a report that places Austin as the 6th most ready city to implement a digital economy.
TATACLIQ ROPES IN GENESIS LUXURY FASHION
TataCLiQ.com , the Tata group's multi-brand e-commerce platform, on Monday said it has formalized a strategic partnership with Genesis Luxury Fashion to offer a wide range of international luxury brands exclusively. "The partnership is a testament to providing the Indian consumer authentic brand experiences directly through authorized sellers and not unknown re-sellers. Currently, all the international luxury brands online on TataCLiQ.com are through our exclusive tie-up," said eCommerce portal's CEO Ashutosh Pandey. "They are also targeting a number of luxury brands that are not present in India .... These will be launched over a period of time on," he said.