Goodyear is paying a fine of over $16 million to the Securities and Exchange Commission without admitting or denying wrongdoing for bribery in Kenya and Angola. Subsidiaries there allegedly paid for tire business and hid the money as legitimate expenses.
As the saying goes, necessity is the mother of invention. Faced with a family member's carjacking, entrepreneur Kelvin Macharia Kuria wanted to do something to stem the massive problem with vehicle thefts in Nairobi, Kenya. Still in his early 20s, he founded a company called Sunrise Tracking in 2012 to do just that, and Macharia has come up with a novel way to potentially get people's cars back, according to CNN.
Having secured $50 million in funding thanks to the Pan-African Investment Company, Mobius can finally put the latest evolution of its low-cost SUV into production. Things have changed some in the two years since the Mobius Two was first announced as a form of inexpensive, go-anywhere transport for Africa: the initial price of $6,000 has risen to $10,000 and it's now called the Mobius II.