Business

Tesla Nears Record Stock Price

Tesla Nears Record Stock Price

19 Feb 2017 comment

For Tesla, there’s been little light shed on what the acquisition of money-losing SolarCity will mean to the bottom line. That hasn’t stopped its shares from nearing a record high, according to Bloomberg.

Hollande Requests Cyber Security Briefing on French Election

Hollande Requests Cyber Security Briefing on French Election

18 Feb 2017 comment

French President Francois Hollande requested a full briefing on what is being done to fend off cyber interference in the 2017 presidential race, according to Bloomberg.

Microsoft Raises U.K. Product Prices

Microsoft Raises U.K. Product Prices

18 Feb 2017 comment

Microsoft again hiked the price of some of its products following sterling’s decline in the wake of last year’s Brexit referendum, according to Bloomberg. Becoming the latest technology company to try to force the pound’s drop on to consumers, the company said it increased prices on software and laptops.

Samsung Heir Jay Y. Lee Arrested on Bribery Allegations

Samsung Heir Jay Y. Lee Arrested on Bribery Allegations

17 Feb 2017 comment

Samsung Group’s Jay Y. Lee was formally arrested this morning on allegations of bribery, perjury and embezzlement, an extraordinary step that jeopardizes the executive’s ascent to the top role at the world’s biggest smartphone maker, according to Bloomberg.

Verizon Said to Near Yahoo Deal at Lower Price

Verizon Said to Near Yahoo Deal at Lower Price

17 Feb 2017 comment

Verizon is close to a renegotiated deal for Yahoo’s internet properties that would reduce the price of the $4.8 billion agreement by about $250 million after the revelation of security breaches at the web company, according to Bloomberg.

Snap Said to Set IPO Valuation at as Much as $22.2 Billion

Snap Said to Set IPO Valuation at as Much as $22.2 Billion

16 Feb 2017 comment

Snap set the valuation on its initial public offering at between $19.5 billion and $22.2 billion in what could be the third-biggest technology offering of the past decade, according to Bloomberg. The maker of application Snapchat is valuing its shares at $14 to $16 on a diluted basis. It could be the biggest technology IPO since Alibaba raised a record $25 billion in 2014.

Lenovo Comes Up Short on Smartphones as PC Business Soldiers On

Lenovo Comes Up Short on Smartphones as PC Business Soldiers On

16 Feb 2017 comment

Lenovo’s mobile-phone business continues to shrink, while its PC division managed anaemic growth in the face of brutal holiday-season competition, according to Bloomberg. The world’s largest PC maker’s profit plummeted more than two thirds in the December quarter, missing analysts’ projections. Smartphone sales declined almost a quarter globally as Lenovo bled market share to rivals.

BlackBerry Files Patent-Infringement Suit Against Nokia

BlackBerry Files Patent-Infringement Suit Against Nokia

16 Feb 2017 comment

BlackBerry filed a patent-infringement lawsuit against Nokia, demanding royalties on the Finnish company’s mobile network products that use an industrywide technology standard, according to Bloomberg.

Apple Said to Mull China Supplier for Next-Gen iPhone Screen

Apple Said to Mull China Supplier for Next-Gen iPhone Screen

15 Feb 2017 comment

Apple is in discussions with China’s BOE Technology Group to supply next-generation displays for future iPhones, a key component that’s being provided by a Samsung Electronics unit, according to Bloomberg.

Toshiba Books $6.3 Billion Writedown, Chairman to Resign

Toshiba Books $6.3 Billion Writedown, Chairman to Resign

15 Feb 2017 comment

Toshiba says it expects to book a 712.5 billion yen ($6.3 billion) writedown in its nuclear power business, citing cost overruns at a U.S. unit and diminishing prospects for its atomic-energy operations. According to Bloomberg, Shigenori Shiga will step down as chairman of the conglomerate.

Apple Shares Hit Record Close on Optimism for Next iPhone

Apple Shares Hit Record Close on Optimism for Next iPhone

14 Feb 2017 comment

Apple shares hit a record on optimism the next iPhone will drive a resurgence in sales and help the company’s services businesses grow, according to Bloomberg. The stock climbed less than 1 percent to $133.29 at the close Monday in New York, the highest on record.

Pentagon Hires Hackers to Target Sensitive Internal Systems

Pentagon Hires Hackers to Target Sensitive Internal Systems

14 Feb 2017 comment

The Pentagon is paying hackers to test its key internal systems for vulnerabilities, and they are finding weaknesses faster than expected, according to Bloomberg.

Facebook Commits to Audit of Ad Metrics

Facebook Commits to Audit of Ad Metrics

13 Feb 2017 comment

Facebook agreed to submit to audits by the media industry’s measurement watchdog, the Media Rating Council, helping address concerns among some advertisers who had become skeptical of the social network’s metrics, according to Bloomberg.

Xiaomi Goes All-In On Retail to Revive Sales

Xiaomi Goes All-In On Retail to Revive Sales

13 Feb 2017 comment

After pioneering online flash sales in China to reach the top of the smartphone market, Xiaomi is turning to old-fashioned retail to arrest its slide, according to Bloomberg. The phonemaker will roll out a chain of about 1,000 brick-and-mortar stores under the Mi Home banner over the next three years. The new target accelerates plans outlined just last month to open 200 stores in 2017.

Huge Snapchat User Growth in UK

Huge Snapchat User Growth in UK

13 Feb 2017 comment

Snapchat’s UK user base experienced explosive growth of 89.8% in 2016, to 11.2 million users, according to eMarketer’s latest mobile usage forecast. Strong growth will continue, and this year, Snapchat will be used by 13.6 million people, representing 31.8% of all UK smartphone users.

Prosecutor Resummons Samsung Heir Jay Y. Lee

Prosecutor Resummons Samsung Heir Jay Y. Lee

13 Feb 2017 comment

A special prosecutor is again questioning Samsung’s Jay Y. Lee over allegations including bribery and embezzlement, potentially dealing another blow to South Korea’s biggest business empire, according to Bloomberg.

Twitter Plans to Hide Abusive Tweets and Block Repeat Offenders

Twitter Plans to Hide Abusive Tweets and Block Repeat Offenders

11 Feb 2017 comment

Twitter says it has come up with new ways to make abusive tweeters less effective: hiding their content and preventing banned users from creating new accounts, according to Bloomberg. The updates, detailed in a blog post, come after years of criticism that the company hasn’t done enough to combat abuse and harassment.

BT Europe Chief Sciolla Resigns

BT Europe Chief Sciolla Resigns

11 Feb 2017 comment

BT’s continental Europe chief Corrado Sciolla has resigned as the fallout from an accounting scandal at the British phone carrier’s Italian unit spreads, according to Bloomberg. Sciolla, who spent more than a decade at BT in roles including head of Italy, resigned to pursue other opportunities, BT said in an e-mail.

Twitter Tumbles as Pace of Revenue Growth Slows

Twitter Tumbles as Pace of Revenue Growth Slows

10 Feb 2017 comment

Twitter tumbled the most in almost four months after quarterly revenue and a profit outlook missed analysts’ estimates, showing that efforts to woo more advertising have yet to pan out despite an effort to boost usage of its site, according to Bloomberg.

Nokia Buys Comptel for 347 Million Euros

Nokia Buys Comptel for 347 Million Euros

9 Feb 2017 comment

Nokia agreed to buy Comptel for 347 million euros to add technology that helps phone carriers manage their networks, part of a push into software and services as network-gear sales sputter, according to Bloomberg. Comptel shareholders will get 3.04 euros a share in cash, Nokia said in a statement.

Preparations For CE China in Shenzhen Run on High Speed

Preparations For CE China in Shenzhen Run on High Speed

9 Feb 2017 comment

Following its successful premiere in April last year, the second CE China is scheduled from 4 to 6 May 2017. CE China, a global IFA event, is designed to be China's premier trade show for consumer electronics and home appliances brands in China.

IBM to Train 25 Million Africans for Free

IBM to Train 25 Million Africans for Free

9 Feb 2017 comment

IBM is ramping up its digital-skills training program to accommodate as many as 25 million Africans in the next five years, looking toward building a future workforce on the continent, according to Bloomberg.

Note 7 Battery Supplier Has Fire at China Factory

Note 7 Battery Supplier Has Fire at China Factory

8 Feb 2017 comment

Samsung SDI, a supplier of batteries to explosion-prone Galaxy Note 7 smartphones, said a “minor fire” broke out at a plant in northern China but was quickly put out, according to Bloomberg.

Facebook Defends Hate-Post Rule in Germany

Facebook Defends Hate-Post Rule in Germany

8 Feb 2017 comment

Facebook told a German court that it can’t monitor all of its customers’ posts for racist language in a dispute over whether the company has to block a photo showing chancellor Angela Merkel and a refugee that has been misused in several hate-speech postings, according to Bloomberg.

IBM Grants Rometty Record Bonus for 2016

IBM Grants Rometty Record Bonus for 2016

8 Feb 2017 comment

IBM CEO Ginni Rometty got her biggest bonus as head of the company last year after the shares rose about 21 percent, the first annual gain in four years, according to Bloomberg.

SK Hynix Makes Bid to Buy Toshiba’s Microchip Business

SK Hynix Makes Bid to Buy Toshiba’s Microchip Business

7 Feb 2017 comment

South Korea’s SK Hynix has offered to buy a stake in Toshiba’s microchip business, as it seeks to expand its share of the global mobile and smart devices market, according to Bloomberg.

IDC Predicts Saudi ICT Market to Bounce Back in 2017 to $33.8 Billion

IDC Predicts Saudi ICT Market to Bounce Back in 2017 to $33.8 Billion

7 Feb 2017 comment

Saudi ICT market will rebound in 2017 to reach a value of $33.8 billion for the year, according to the latest insights presented by IDC. Hosting its annual 'IDC Predictions 2017' event at The Ritz-Carlton, Riyadh, the global technology research and consulting services firm said it expects Saudi Arabia's ICT market to grow 2.4% year on year in 2017, which represents a considerable improvement on the -5.1% downturn experienced in 2016.

Apple Said to Revive Efforts to Sell Used iPhones in India

Apple Said to Revive Efforts to Sell Used iPhones in India

7 Feb 2017 comment

Apple has put back on the table a request to sell used iPhones in India as it negotiates with the government for concessions to start production in the country, according to Bloomberg. The company has asked to bring in used iPhones to be refurbished and sold in India, saying it will have the manufacturing infrastructure needed to make them compliant with quality standards.

Facebook and Google Tackle Fake News in France

Facebook and Google Tackle Fake News in France

7 Feb 2017 comment

Facebook and Alphabet want to stop fake news from spreading in France as the country prepares for the presidential election in spring, with new fact-checking tools showing the Internet giants have learned lessons from the run-up to the U.S. race last year, according to Bloomberg.

97 Companies File Legal Brief Against Trump Immigration Order

97 Companies File Legal Brief Against Trump Immigration Order

6 Feb 2017 comment

Ninety-seven companies, from Apple to Zynga, filed an impassioned legal brief condemning President Donald Trump’s executive order on immigration, stepping up the industry’s growing opposition to the policy, according to Bloomberg.