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.

Yelp reviewers roar after dentist shoots lion
The Verge

The American dentist who shot Cecil, a beloved African lion, has found his Yelp page under assault from bogus reviewers. "I needed a tooth extracted, so Dr. Palmer shot me in the neck with a crossbow," one reviewer claimed.

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.

GSK investigating bribery complaints in Romania

GlaxoSmithKline said it is investigating bribery allegations the company is facing in Romania. According to claims the company has received, GSK allegedly paid physicians hundreds of euros -- and one doctor was paid thousands of euros -- to prescribe its Parkinson's disease medication Requip, prostate medications Avodart and Duodart, and other products. The company is also investigating similar claims in Iraq, Syria, Jordan, Lebanon, United Arab Emirates and Poland.

T-Mobile adds 2.1M subs as revenues rise 14%

Aggressive price-cutting helped T-Mobile US add 2.1 million subscribers in its second quarter, compared with 1.5 million in the same period a year ago, as the carrier outpaced analysts' expectations. The 2.1 million figure includes 1 million postpaid customers, 178,000 prepaid subscribers and 919,000 from wholesalers. Revenues rose by 14%, and the carrier predicted it will report positive earnings this year.

Train delays spotlight Hudson River tunnel project

Politicians and others are talking again about the possible Gateway rail-tunnels project under the Hudson River after recent delays on the rail line in New Jersey. New Jersey Gov. Chris Christie nixed a similar project in 2011, but now he, New York Gov. Andrew Cuomo and U.S. Transportation Secretary Anthony Foxx plan to talk about the tunnels, considered vital for the Northeast Corridor. The project could cost $16 billion and, as always, the debate is over who will fund it.

Europe could expand installed offshore capacity 20% with $11B, wind group says

Europe's offshore wind industry requires an investment of about $11 billion to increase its installed wind capacity 20% by the end of 2016, the European Wind Energy Association says. "To attract the [$11 billion] in question, EU member states should set out road maps on support for offshore wind to drive down risk premium and the cost of capital. Abrupt changes to support schemes and stop-start policies can blindside investors," said EWEA spokesman Oliver Joy.

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.