Déjá vu all over again?: Venture capitalists poured a whopping $48.3 billion into U.S. startup companies last year, investing at levels that haven’t been seen since the heady days before the dot-com bubble burst in 2001. The Associated Press reports software and biotechnology companies were the leading recipients of venture funding in 2014, which rose more than 60% from the previous year, according to a new report issued today. Experts say the surge shows that investors recognize the power of new technology to disrupt and replace old industries. But it also underscores a nagging concern that investors may be sinking money into some companies at inflated values. Read the full story.
Upon further review: BP is facing a maximum fine of $13.7 billion after a U.S. judge ruled on Thursday that the company dumped 3.2 million barrels of oil into the Gulf of Mexico during the Deepwater Horizon spill in 2010—or about a quarter less than the U.S. had calculated. As Bloomberg reports, the government’s 4.2 million barrel estimate of the spill size was rejected by U.S. District Judge Carl Barbier, decreasing the potential maximum fine from $18 billion. BP estimated the flow at 2.45 million barrels. The maximum possible fine would still be the largest U.S. pollution penalty. Read the full story.
Sick and tired: President Barack Obama launched a fresh push Thursday to bring paid sick and family leave to working parents and other private-sector employees as the White House unveiled proposals that could benefit tens of millions of people. Most require action by the Republican-controlled Congress. Obama says the issue transcends demographics and geography, but “the good news is that we can really do something about it.” The White House says Obama will push the issue anew in the State of the Union address he delivers Tuesday night to a joint session of Congress. The Associated Press has the full story.
