ITT Tech shuts down all college campuses, blames government; Fox settles with former anchor for $20 million, and more news.
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ITT Technical Institutes will shut down all its college campuses following a “recent move by the U.S. Education Department to ban the for-profit college operator from enrolling new students who use federal financial aid.” ITT brought in $850 million in revenue last year but has recently undergone “federal and state investigations of its recruiting and accounting practices,” not unlike many other for-profit colleges. The shutdown affects tens of thousands of students and 8,000 employees. The small silver lining: Current or recently enrolled students may be able to get their student loan debt forgiven.
Fox has given $20 million as well as an “unprecedented apology” to former Fox News host Gretchen Carlson after she filed a sexual harassment claim against now-ousted CEO Roger Ailes. Following Carlson’s statement, six more women came forward with similar claims. The outcome “provides a relatively swift closure to an ugly chapter in the company's history.”
Apple’s cleaning its app store by “removing old, outdated and non-compliant apps” that could add up to hundreds of thousands of apps.The purge is “one of several, radical changes Apple has been rolling out to its App Stores in recent months.” Developers: Here’s what you should look out for.
#Stat$1 billion-Snapchat will reach nearly $1 billion in ad revenue in 2017, a huge “I told you so” to those who said the app had zero staying power.
Take that, Zuckerberg: India’s richest man is giving 4G to 1 billion people for as little as $2.25 per month, a move that makes Facebook’s Zuckerberg’s similar (but failed) Free Basics plan look like small potatoes. Currently only one-fifth of India has access to Internet, but the new plan hopes to reach 90% of India by early 2017. It hasn’t come cheap, though: Mukesh Ambani has spent billions creating the infrastructure to make his dream possible.
Originally posted on Linked IN by: Lorraine K. Lee
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