US Lightens Import Restrictions on Cuban Products and Services

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Electromagnetic Railgun Debuted by US Navy

A futuristic weapon which uses electromagnetic energy to send a projectile speeding towards its target at seven times the speed of sound was introduced to the public at the Navy’s Science and Technology Expo last Wednesday.

The railgun sends its missile faster, farther and with greater final impact than a conventional gun using gun powder. Chief of Naval Research, Rear Admiral Nat Winter said that the Navy will most likely have this weapon aboard ships within the next ten years.

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Bipartisan support for Cybersecurity

As Congress begins to haggle over the country’s budget and what government activities need more funding and which less, one area that seems to be agree upon is the need for a strong support for improved government cybersecurity.

Out of $4 trillion available for Congress to divvy out, about $14 billion will be earmarked towards cybersecurity. Listen to a discussion of the nation’s current approach to cybersecurity with Lori Rothman of Fox Business Network’s “Risk & Reward” interviewing Theresa Payton, CEO of Fortalice Solutions.

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Elena Bay of Financial Buzz Summarizes Week’s News

Monday was Martin Luther King’s Birthday, a national holiday, keeping Wall Street closed. On Tuesday the stock market was up and down, finally closing up with the help from airline and technology shares. However West Texas Crude oil fell as much as 5 percent. Economy is also reacting to the announcement of the Swiss National Bank to unpin its currency from the euro.

The International Monetary Fund cut its growth projection for the coming years 2015 and 2016 down to 3.5 percent this year and 3.7 percent for next year. The housing market index was at 57 in January.

On Wednesday stocks continued their upward climb. News from the housing market says that in December new housing starts were up by 4.4 percent. The report also takes a look at individual companies and their performance: including Netflix, BlackBerry and Samsung, Southwest Airlines, and more.
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Rare Penny Auctioned for Record $2.6 Million

A Beverly Hills coin dealer paid $2.6 million for a rare American penny dated to 1792, the highest amount ever paid for a one-cent piece at auction.
Known as the “Birth Cent” after its engraver Robert Birch, it is one of the first pennies ever made for the newly formed United States of America. It was created as part of a series of prototype coins, and only ten coins are believed to be extant. Kevin Lipton, the coin dealer who made the purchase, believes that this particular coin is in the best condition of the lot.

“I felt elated, just wonderful,” Lipton, 55, of Lipton Rare Coins Inc said of his winning bid made last Thursday at the Heritage Auctions sale in Orlando, Florida. “I thought the coin would bring more money. This was a really good buy.”

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China Sends Unmanned Orbiter to the Moon

On October 24, 2014 China sent a test lunar orbiter into space. Chang’e 5 circled the moon during its eight day mission. The service module of that mission ejected a return capsule on November 1st, and later that same day the capsule safely parachuted back down to Earth.

After the capsule was released the service module arrived at the Earth-Moon Lagrangian (L2) position. There it completed three circles around that point, and then left for lunar orbit.

“It was the first time for a Chinese spacecraft to reach the L2 point, and the service module completed three circles around the point, expanding probe missions,” said Zhao Wenbo, vice director of China’s State Administration of Science, Technology and Industry for National Defense (SASTIND), according to the state-run Xinhua news agency last week.

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According to controllers on the ground, the service module’s systems are all operating well. During its orbit around the moon the module will be collecting data to help plan for Chana’s Chang’e 5 lunar mission, which is scheduled for some time in 2017.

Business News Highlights from 2014

Mango News presents the ten hottest international business news items from 2014. Included in the review are:

1. The drastic fall in the price of oil
2. The slump in employee wages
3. The US economy’s stagnation
4. The stock market
5. Sony Entertainment’s run-in with hackers
6. The advancement if information technology
7. The rising star of the telecommunications industry
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Hackers Take Down North Korean Internet

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President Obama Announces New Trade Relations with Cuba

The big news this week for US businesses is the thawing of relations between the United States and Cuba. The bold step taken by President Obama came as a surprise to business community, but a welcome one. According to the New York Times:

“Within hours of President Obama’s historic move to restore full diplomatic relations with Cuba, companies in the United States were already developing strategies to introduce their products and services to a market they have not been in for the better part of 50 years — if ever.”

Listen below to part of Obama’s announcement to begin trading with Cuba.
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Businessman’s Solution for the December Dilemma: A Mensch Takes on an Elf

Entrepreneur Neal Hoffman took the popular holiday doll “Elf on a Shelf” and gave it a Jewish twist when he invented “Mensch on a Bench.” For those of you whose Yiddish is a bit rusty, a mensch is someone who is literally “a person” but it means to be honest, responsible, kind, and all other good traits.

Hoffman thought up the idea of Mensch on a Bench in response to his son’s request to have an Elf on the Shelf doll. The business is booming: Hoffman sold 1,000 of these dolls last year, and has already sold 50,000 this year. Listen to him explain his business philosophy and his hope for this latest hot-selling product.

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