Geek Ventures, a new venture capital firm, has raised $23 million to invest in immigrant tech founders at the pre-seed and seed stages. Founded by Ihar Mahaniok, who immigrated from Belarus, the firm aims to provide more opportunities for talented entrepreneurs worldwide. Mahaniok also focuses on building connections within the U.S. venture capital ecosystem through networking events. Backed by investors such as Applovin founder and CEO Adam Foroughi, Geek Ventures has invested in 35 companies and plans to support one or two startups monthly with investments ranging from $50,000 to $1 million.

Google announced several security-related enhancements for its Google Workspace products, including Gmail and Drive. These updates aim to enhance the zero trust security model and integrate it with data loss prevention (DLP) capabilities. The additions include AI-powered continuous classification and labelling of sensitive data, enhanced DLP controls in Gmail, context-aware controls in Drive, and AI-driven log data analysis for detecting data breaches and suspicious activities.

Google is also introducing client-side encryption for mobile versions of Gmail, Calendar, Meet, and other Workspace tools, allowing customers to control their encryption keys. The company is also offering the option to choose the data processing location, starting with the EU and the United States. Pricing details for these features are yet to be specified.

U.S. Trade Representative Katherine Tai has raised concerns with India regarding its new order that requires licenses for the import of laptops, tablets, and personal computers. The move could potentially impact shipments from companies such as Apple and Dell and may prompt firms to increase local manufacturing. Tai emphasized the need for stakeholders to review and provide input to ensure that the policy does not harm U.S. exports to India.

The new licensing regime, set to take effect on November 1, intends to ensure trusted hardware and systems enter the country while reducing dependence on imports and addressing the trade imbalance with China. India and the U.S. will also continue discussions to resolve a bilateral dispute at the World Trade Organisation related to certain agricultural imports.

The gun industry faced a sales slump after the pandemic, reducing production for major manufacturers. However, despite fewer firearms sold in the US, the industry remains profitable as manufacturers adjust to meet changing consumer demand. Smith & Wesson and Sturm, Ruger & Company have stabilized their declines, assuring investors of positive trends that will help the industry rebound. The industry is slowing down production, slashing prices, and developing new-generation firearms with advanced technology and safety features.

Gun startups like Biofire Technologies are introducing smart guns that utilize facial recognition and fingerprint verification. Additionally, the industry focuses on lightweight materials and red dot sights to make firearms more appealing. New gun ownership rates reached a record high during the pandemic, with a shift in demographics and reasons for purchasing firearms. Protection has become the primary factor for gun ownership, replacing recreational and hunting purposes. The gun industry is adapting its marketing strategies to cater to a more diverse and younger consumer base.

Workers across various industries, including car factories and writers’ rooms, increasingly stand up to companies for improved compensation and working conditions. Many have resorted to strikes and achieved significant victories, with record labor deals secured and high-profile organizing efforts gaining momentum.

The surge in worker activism can be attributed to factors such as the impact of the COVID-19 pandemic, soaring company profits, a growing approval rating for labor unions, and the widening pay gap between workers and executives. As strikes and negotiations continue, workers are seeking higher pay, an enhancement in their quality of life, and greater control over their schedules.

Auto workers represented by the United Auto Workers union have voted by a large margin to grant union leaders the power to call strikes against Stellantis, General Motors, and Ford if a contract agreement cannot be reached.

Although negotiations are ongoing, the vote indicates significant dissatisfaction with the progress of contract talks. The union’s demands include a 40% pay increase, the restoration of pensions for new hires, the elimination of wage tiers, and other benefits. While the vote does not guarantee a strike, the union has signaled its willingness to take action if necessary.

Open Society Foundations (OSF), founded by billionaire philanthropist George Soros, is planning to significantly reduce its work in Europe and lay off a large portion of its staff in the continent. The strategic change, which includes withdrawing support for human rights and civil society initiatives in the European Union, has caused confusion and concern among OSF employees and grantees.

The decision comes after Alex Soros, George Soros’ son, announced a new operating model for OSF. The lack of communication about the changes and uncertainty surrounding the organization’s future direction has raised doubts about OSF’s commitment to its founding principles. The proposed cuts have sparked worries that philanthropies supporting conservative social movements may gain more ground in Europe.

Federal Reserve Chair Jerome Powell has stated that the central bank may need to raise interest rates further to ensure that inflation remains limited. While the US economy has been performing better than expected, and inflation has decreased, Powell emphasized that the Fed has not yet determined if its benchmark interest rate is sufficiently high to achieve the target inflation rate of 2%.

Powell also expressed concern over signs that the economy may not be cooling as expected, particularly noting robust consumer spending and a possible rebound in the housing sector. The Fed is committed to decreasing inflation to the target rate and will raise rates further if necessary. Powell’s remarks showed the Fed’s challenges regarding conflicting signals from the economy and the need to strike the right balance in monetary policy.

The major freight railroads are at odds over whether they should be allowed to discipline workers who report safety concerns through a government hotline. This disagreement has prevented them from fulfilling their promise to join the program, which was prompted by a fiery derailment in Ohio. Unions and workplace safety experts argue that the ability to discipline workers for reporting safety issues undermines the purpose of the hotline, as it deters employees from using it due to fear of retribution.

The railroads, however, express concern about potential abuse of the system and argue for the right to discipline workers in certain situations. The ongoing dispute highlights the long-standing issue of workers being fired for reporting safety violations within the railroad industry. Despite the resistance from major freight railroads, some smaller railroads and Amtrak have already joined the government reporting program. The matter is being addressed by a committee composed of labor groups, railroads, and safety regulators, aiming to find a solution.

The Federal Railroad Administration stresses the importance of the program in improving rail safety, and the Transportation Trades Department coalition urges the railroads to follow through on their commitment to join the hotline.