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Seattle: The Silicon Forest

While Silicon Valley may be known as the most popular place for technology companies, there is a new leader on the map about 800 miles north, and the city is Seattle. This city already has bragging rights for nurturing tech giants such as Microsoft and Amazon. Now the best talent is moving to this growing city and helping fuel a technology expansion in the area like no one has ever seen. There is now a quarter of a million people working in the technology sector in the state of Washington and 90 percent of them are working in the area.…
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SparkCognition secures $32.5 million in funding

SparkCognition Inc., an artificial intelligence startup that can help other businesses predict a data breach, has closed on $32.5 million in series B funding. The money will support expansion and sales, according to a Monday announcement. The investment was led by Verizon Ventures, the venture capital unit of Verizon Communications Inc. (NYSE: VZ), with additional funding from Boeing HorizonX, the investment arm of Boeing Co. (NYSE: BA). "SparkCognition has pioneered the use of artificial intelligence… ...
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CFOs share their favorite job interview questions – and the best responses

"When can you start?" Todd Prophet, chief financial officer at Harley Marine Services, gets right to the point when interviewing job candidates. Their responses can be telling – and often amusing. "I usually get a large gulp" he said, followed by a look that asks, "When would you like me to start?" We asked Prophet and our other seven 2017 CFO of the Year honorees what they like to ask candidates during a job interview. Click through this slideshow to see what they want to know. ...
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Winklevoss brothers' ETF bid is rejected by SEC, bitcoin dips in value

Call it a "Winkle" in their plans. The U.S. Securities and Exchange Commission has decided not to approve the Winklevoss Bitcoin Trust, the exchange-traded fund (ETF) launched by Tyler and Cameron Winklevoss. The brothers, notorious for receiving a large legal settlement for their involvement with the founding of Facebook, saw their application get denied today, causing bitcoin value to sink 14 percent (roughly to $1,022). It was trading at about $1,303 earlier in the day. The decision came shortly… ...
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Seaway Bank changing hands again just weeks after previous takeover

Just weeks after it was closed by regulators and taken over by State Bank of Texas, Seaway Bank & Trust — the Chicago bank that runs the former Legacy Bank branch in Milwaukee’s central city — is now being sold to a North Carolina credit union, according to Crain’s Chicago Business. Self-Help Federal Credit Union of Greensboro, N.C., is buying Seaway Bank from the Dallas-based State Bank of Texas. The credit union specializes in lending to low-income and minority customers and already owns… ...
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Watch out Venmo: Bank of America launches peer-to-peer payments with Zelle

Bank of America Corp. (NYSE: BAC) is now offering peer-to-peer payments through Zelle, a payments network that is embedded in BofA's mobile banking app. The Charlotte, N.C.-based bank is one of many companies to join Early Warning’s Zelle Network. Early Warning is a financial-technology company that delivers innovative payment solutions to banks. Zelle is an inclusive network open to banks and credit unions in the U.S. The idea behind the payments tool was to create a faster, safer and more convenient… ...
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Cornell University renames business school to honor SC Johnson following $150M donation

Cornell University's business college will bear a new name — and it will be one that is familiar to many Wisconsinites. The Ivy League university in upstate New York said this past weekend that its College of Business will be named Cornell SC Johnson College of Business following a $150 million donation from Racine-based S.C. Johnson & Son Inc. and its chairman and CEO Fisk Johnson. It is the largest gift ever that Cornell has received for its Ithaca campus and the second largest contribution… ...
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Enterprise Bank expands in Arizona region

Enterprise Bank and Trust is growing its Arizona footprint with an emphasis on accelerating growth and pushing further into the Arizona market, especially through expansion of its mortgage group and the expertise of new employees. Jack Barry, who has been the region president since 2008, was promoted to chairman and CEO of the region. He said he looks forward to incorporating more strategy into the direction Enterprise takes as it grows in the Arizona region. "I'll look more into our strategic… ...
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​Banc of California CEO resigns amid SEC probe

Banc of California Inc. Chairman and Chief Executive Steven Sugarman has resigned amid an investigation by the U.S. Securities and Exchange Commission into whether the bank misled investors. Irvine-based Banc of California (NYSE: BANC) said Robert Sznewajs, current chair of the board’s joint audit committee, will assume the role of chairman. Hugh Boyle, the company’s chief risk officer, will add the title of interim CEO, while J. Francisco Turner, chief strategy officer and principal financial… ...
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Going Green: Washington’s Economy After Legalization Featured

Washington State has been reaping the benefits since the legalization of recreational marijuana. Since legalization in 2014, the state has raked in over $ 1.3 billion in sales. Within the past two years, banks are willing to participate in the marijuana business—the numbers started at 51 in March 2014 then jumped to more than 300. In the first half of 2016, people spent $ 54.8 million on alcohol than marijuana. In the second half of 2016, the two products were even at $37 million. Marijana sales in the second half totaled to $212 million. In July, sales at shops rose…
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