The typewriter business that led the way in innovation

Many of the principles embraced by today's innovative startups were put into practice by Olivetti, an Italian company founded in the early 20th century, writes Annalisa Merelli. The company, originally known for its typewriters, plowed its profits back into product development and design and eventually produced mechanical calculators and an early personal computer. The company is now part of Telecom Italia Group.

Senate committee hears officials' concerns over campus sexual assault law

Some higher-education officials are voicing concern over a requirement in the Campus Accountability and Safety Act, currently being considered by Congress, that schools provide confidential advisers to sexual assault victims. Mollie Benz Flounlacker with the Association of American Universities this week told a Senate hearing that advisers could be open to subpoenas, which could compromise confidentiality.

Fed's economic assessment suggests possible Sept. rate hike

The Federal Reserve's policymaking committee has issued a cautiously optimistic report that says moderate economic growth is producing "solid job gains and declining unemployment." The tone suggests the central bank is close to raising its benchmark interest rate, possibly as early as mid-September. The Federal Open Market Committee has unanimously voted to keep interest rates close to zero a little longer.

Grocers dominate Texas city's prime retail market

Wal-Mart will open two Supercenters and four Neighborhood Markets in San Antonio over the next 12 months, as the retail real estate market continues to tighten in the city. Much of San Antonio's new retail space is being taken up by food retailers, which are targeting the area due to new residential construction and its growing population.

Pentagon chooses Cerner, Leidos for EHR modernization contract
Health Data Management

The Defense Department has selected Leidos and Cerner for an EHR modernization contract that could last 10 years and be worth an estimated $11 billion overall. The winning team also includes Accenture and Henry Schein.

Adidas "Superstar" campaign evolves to recognize next generation

Pharrell Williams returns in the latest Adidas "Superstar" campaign from Johannes Leonardo that promotes the 45th anniversary of the Superstar shoe while encouraging people to be creative and express themselves. Williams is joined by five other emerging global artists, representing the brand's key markets.

Report: Almost all fashion, beauty brands use Instagram
Luxury Daily

Nearly all fashion and beauty brands are taking advantage of marketing on Instagram, with 98% of fashion brands and 95% of beauty brands using the photo-sharing site, according to a report from L2. It also found that fashion brands have increased followers by 27%, and beauty brands have seen a 30% increase. The growth is due in part to Instagram's improvements to its sponsored ads that include capabilities for direct sales and sign-ups, according to Eleanor Powers, L2's insight director.

Sony raises Q1 profits to $780M, passing expectations

Sony generated $780 million in operating profit during its first quarter this year, passing analyst expectations and securing a 39% year-over-year improvement. Sales were driven largely by Sony's camera sensor and PlayStation 4 units, signaling that the company's restructuring under CEO Kazuo Hirai is working.

Coretherapix purchased by TiGenix

Coretherapix, a cell therapy developer, was acquired by TiGenix in a deal worth up to $318.5 million, TiGenix announced. The deal boosts TiGenix's cardiology pipeline, giving it access to Coretherapix's allogeneic cardiac stem cell product, AlloCSC-01, which is in a midstage trial as a treatment for heart attack and in preclinical development for the treatment of chronic ventricular tachycardia.

IDC: Tablet sales, iPad's market share continue to slip
Network World

Global tablet shipments fell by 3.3 million units in the second quarter compared with the same quarter a year ago, research firm IDC has found. Apple recently reported an 18% drop in iPad sales, and its market share declined by roughly 3 percentage points to 24.5%, IDC reports.

Developer hopes to begin Iowa water park construction in May

Funding is being gathered for the planned $100 million Cedar Bayou water park in Cedar Rapids, Iowa, and developer Nick Ford said he hopes to begin construction in May 2016. Ford's plan includes an indoor and outdoor water park, a hotel and an RV park.

IHS: Crude exports would lower gasoline prices

Lifting the ban on U.S. crude oil exports would lead to an average 8-cents-per-gallon drop in domestic gasoline prices through a surge in crude output, according to an IHS study. The study reaffirms that concern about a potential price hike at the pump as an effect of crude exports "is unfounded," said Kurt Barrow, vice president of oil markets and downstream for IHS.

Alaska Airlines to add daily service between Kansas City, Portland

Alaska Airlines will launch daily nonstop service connecting Kansas City, Mo., and Portland, Ore., the company has announced. The new service is expected to launch in February.

Site lists amenities for specific flights on 100-plus airlines

Routehappy enables travelers to view amenities offered on specific flights, including whether there will be meal service and what it will cost, across 100-plus airlines.