California Now World's 5th Largest Economy, Surpassing UK

California's economy has surpassed that of the United Kingdom to become the world's fifth largest, according to new federal data made public Friday.
Read more: https://www.nytimes.com/aponline/2018/05/04/us/ap-us-california-economy.html?source=Snapzu

‘Pharma Bro’ Shkreli Is In Prison, But Daraprim’s Price Is Still High

It was 2015 when Martin Shkreli, then CEO of Turing Pharmaceuticals and the notorious “pharma bro,” jacked up the cost of the lifesaving drug Daraprim by 5,000 percent. Overnight, its price tag skyrocketed from $13.50 a pill to $750. The move drew criticism from all corners. Congress hauled Shkreli in for questioning on television. Media outlets shamed the practice. The Pharmaceutical Research and Manufacturers of America (PhRMA), the powerful trade group for branded drugs, distanced itself, saying Turing “does not represent the values of @PhRMA” and kicked off a campaign it described as “more lab coat, less hoodie.”
Read more: https://khn.org/news/for-shame-pharma-bro-shkreli-is-in-prison-but-daraprims-price-is-still-high?source=Snapzu

Harvard: India will be world’s fastest growing economy in coming decade

India tops the list of the fastest growing economies in the world for the coming decade and is projected to grow at 7.9 per cent annually, ahead of China and the US, according to a Harvard University report.
Read more: https://www.thehindubusinessline.com/economy/harvard-india-will-be-worlds-fastest-growing-economy-in-coming-decade/article23776487.ece?source=Snapzu

Microsoft, Nintendo, and Sony warned by FTC about potentially illegal product warranties

Six major companies including Microsoft, Nintendo, and Sony have received letters from the US Federal Trade Commission warning that some of their product warranties may be in violation of federal law. HTC, Asus, and Hyundai. The FTC said that it sent warnings to six “major companies” last month, but it didn’t disclose which ones. Now, thanks to a Freedom of Information Act request filed by Motherboard, we know which companies received them.
Read more: https://www.theverge.com/2018/5/1/17308042/ftc-illegal-warranty-letters-warning-microsoft-sony-nintendo-asus-htc-hyundai?source=Snapzu

A Decade of Banks Behaving Badly Is Being Laid Bare in Australia

In a quiet courtroom in Melbourne, a decade of scandalous behavior at Australia’s biggest banks is being forensically laid bare. From lying to regulators, falsifying documents and taking bribes to extracting fees from customers long since dead, the revelations at the quaintly-named Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry have shocked and angered the public.
Read more: https://www.bloomberg.com/news/articles/2018-04-29/decade-of-banks-behaving-badly-laid-bare-in-australian-inquiry?source=Snapzu

Amazon is launching a $23 subscription book box for kids

Subscriptions are currently invite-only.
Read more: https://www.theverge.com/2018/5/1/17306660/amazon-prime-book-box-subscription-service-kids?source=Snapzu

Bitcoin.com Fraud Lawsuit Group Gaining Steam With Over 1000 Members

The dedicated Telegram group made up of organizers and those who have lost money due to the cryptocurrency news and information outlet’s practices current holds 1016 members at press time April 30. The group has existed less than a week, but already features well-known cryptocurrency figures including Charlie Shrem and Richard Heart, as well as Nakamoto Institute founder Pierre Rochard and entrepreneur Alistair Milne.
Read more: http://bitcoinist.com/1000-people-join-crypto-industry-figures-sue-bitcoin-com-fraud/?source=Snapzu