Welcome to Five at Five, your late look at some of the day’s top payments and commerce news. Coverage includes a look at how Amazon is growing its B2B unit and the reason behind an Overstock stock decline. A U.S. federal judge says that securities law applies to crypto fraud, China has a lead in an important patent area and a major bank makes a big investment push in cities.
Amazon released new statistics about the growth of its B2B eCommerce unit, Amazon Business, on Tuesday (Sept. 11), touting the success of the operation four years after its launch.
Patrick Byrne has sold, in total, about $20 million in stock during the past week, as share price has fallen 12 percent. He first revealed his plans to sell in a March Securities and Exchange Commission (SEC) filing, saying that the proceeds would “fund sidecar investments with the company.”
U.S. District Judge Raymond Dearie in New York ruled that Brooklyn resident Maksim Zaslavskiy can be prosecuted for violating the federal Securities Exchange Act.
In tech, innovation is everything. In innovation, intellectual property is, well, almost everything — it can be the hardware, the software or the processes that come from the creative endeavor.
The program is based on its previous efforts to invest in urban renewal, including the $150 million investment it made in Detroit in 2014. Since then, it has invested $40 million in Chicago and $25 million in Washington, D.C., reported Reuters.