“In her first testimony before Congress as Federal Reserve Chair Janet Yellen pledged to continue on the path set by her predecessor Ben Bernanke. ‘His leadership helped make our economy and financial system stronger and ensured that the Federal Reserve is transparent and accountable,’ said Yellen in a remarks delivered before the House Committee of Financial Services Tuesday morning” — Samantha Sharf. Read Yellen Echoes Bernanke In First Congressional Testimony As Fed Chair
“In a blow to the Internal Revenue Service and unsuspecting taxpayers, an appellate court today nixed the agency’s attempt to regulate commercial tax return preparers, upholding a federal district court decision from last year” — Ashlea Ebeling. Read Appellate Court Delivers Blow To IRS And Taxpayers Nixing Tax Return Preparer Regs
“Basically, Upstart and other so-called “self-IPO” sites like Pave, allow people to take an upfront investment in exchange for a percentage of their future earnings. The sites have been drawing entrepreneurs looking for funding, recent graduates who want to pay off student loan debt so they don’t have to take jobs just for the money, others looking for mentors and yet others who want to learn a new skill such as coding” — Laura Shin. Read The Self-IPO Is The Newest Way To Raise Money: Do It Right With These 7 Tips
“The mysterious developer of the world’s most popular free app, who drew global attention this past weekend with his sudden decision to remove it, tells Forbes that Flappy Bird is dead. Permanently” — Lan Anh Nguyen. Read Exclusive: Flappy Bird Creator Dong Nguyen Says App ‘Gone Forever’ Because It Was ‘An Addictive Product’
“Having partnered with Starbucks Starbucks more than a year ago, mobile payments company Square has pushed the envelop again by hooking up with Whole Foods in what is its first partnership with a national grocer. Whole Foods didn’t reveal how many stores would start using Square’s mobile payments technology, but the partnership is an important step for Square ahead of its widely-expected initial public offering this year” — Parmy Olson. Read Square Strikes Nationwide Payment Deal With Whole Foods
“Bitcoin is having a rough week, resulting in a drop in its value and in-fighting among its earliest adopters. How bad is the news? Here’s the latest” — Kashmir Hill. Read The Bitcoin Bad News Round-up
“The Lego Movie seems like the kind of film that was dreamed up by a bunch of marketing executives looking for product integration. The concept is a 90-minute ad. It shouldn’t have worked. And yet the film is a bona fide hit, grossing $69 million in its opening weekend. Don’t be surprised if the success of the film emboldens Hollywood to push harder for more product tie-in films” — Dorothy Pomerantz. Read What Hollywood Can Learn From The Success Of ‘The Lego Movie’
“American snowboarder Shaun White entered today’s Olympic halfpipe competition as a two-time defending gold medalist and the clear favorite to win. White has spent the recent months focusing exclusively on winning his third gold, and a top score in qualifying suggested he would do just that. But unfortunately for White, his gamble backfired and he’ll head home from Sochi empty-handed” — Chris Smith. Read Shaun White’s Olympic Gamble Backfires With Halfpipe Loss To Iouri Podladchikov