Business

IBM Margins Narrow While It Struggles to End Sales Slide

IBM Margins Narrow While It Struggles to End Sales Slide

21 Jan 2017 comment

IBM fourth-quarter sales declined and margins narrowed, indicating that revenue in cloud computing and artificial intelligence hasn’t yet offset acquisition costs and other expenses to move the company into new businesses, according to Bloomberg.

Facebook Pushes Back as Germany Weighs Fines for Malicious Posts

Facebook Pushes Back as Germany Weighs Fines for Malicious Posts

20 Jan 2017 comment

Facebook defended itself against criticism in Germany that it’s not doing enough to combat hate speech and fake news, telling Chancellor Angela Merkel’s party lawmakers that ridding its platform of such content is highly complex, according to Bloomberg.

Oculus Founder Draws Fire at Facebook Trial

Oculus Founder Draws Fire at Facebook Trial

20 Jan 2017 comment

The young entrepreneur credited as the brains behind Facebook’s virtual reality headset was accused in court of betraying a company that had worked with him to display the technology at a trade show, Bloomberg reports.

Jack Ma Wants to Avoid U.S.-China Trade War at all Costs

Jack Ma Wants to Avoid U.S.-China Trade War at all Costs

20 Jan 2017 comment

Alibaba Chairman Jack Ma said that a trade war between the U.S. and China would spell disaster for the world, and that he’d do anything in his power to prevent it from happening, according to Bloomberg. "I think that China and the U.S. should never have a trade war, will never have a trade war, and I think we should give President-elect Donald Trump some time, he’s open-minded, he’s listening," Ma said at the World Economic Forum in Davos, Switzerland.

Google Buys Mobile App Tool Fabric From Twitter

Google Buys Mobile App Tool Fabric From Twitter

19 Jan 2017 comment

Google is buying one of Twitter’s remaining parts, according to Bloomberg. Alphabet’s online search division agreed to purchase Fabric, a Twitter business that provides a software toolkit for mobile apps. The companies didn’t disclose financial terms.

Netflix Soars, Esquire Goes Dark as More TV Viewers Move Online

Netflix Soars, Esquire Goes Dark as More TV Viewers Move Online

19 Jan 2017 comment

An hour after Comcast said its Esquire cable network will shut down, a sign of flagging interest in traditional pay TV, Netflix reported its biggest quarter ever, beating analysts’ estimates on new subscribers and validating its vision of a world where everyone watches TV online and on-demand, according to Bloomberg.

South Korea Court Rejects Arrest of Samsung Heir

South Korea Court Rejects Arrest of Samsung Heir

19 Jan 2017 comment

A court in South Korea turned down prosecutors’ request to arrest Samsung Group’s Jay Y. Lee on alleged bribery, perjury and embezzlement, letting him stay in place atop the country’s most powerful company while they continue their investigation, according to Bloomberg.

Qualcomm Accused of Forcing Deal on Apple

Qualcomm Accused of Forcing Deal on Apple

19 Jan 2017 comment

Qualcomm forced Apple to use its chips exclusively in return for lower licensing fees, unfairly cutting out competitors, the U.S. said in a lawsuit against the biggest maker of mobile phone chips, according to Bloomberg. Exclusive deal was detailed in a Federal Trade Commission lawsuit accusing the chipmaker of illegally maintaining a monopoly for semiconductors used in mobile phones and pocketing elevated royalties from customers.

Apple Could Pay Up to 1,5 Billion Euro Interest with EU Fine

Apple Could Pay Up to 1,5 Billion Euro Interest with EU Fine

18 Jan 2017 comment

Apple’s bill for unpaid taxes in Ireland is creeping upwards, as authorities try to figure out exactly how much the world’s richest company owes, according to Bloomberg. European Union competition watchdogs ordered Ireland to claw back a record 13 billion euros plus interest in unpaid taxes from the iPhone maker last August, covering the years 2003 to 2014.

Veeam Announces Record 2016 Results

Veeam Announces Record 2016 Results

18 Jan 2017 comment

2016 was excellent year for Veeam. The company made $607,4M in total revenue bookings with 28 percent YoY growth. The growth was fueled by accelerated enterprise and cloud revenues which were driven by the critical need for enterprises of all sizes. In Croatia, Veeam had 28 percent YoY growth.

Apple to Raise U.K. App Store Prices to Counter Weakened Pound

Apple to Raise U.K. App Store Prices to Counter Weakened Pound

18 Jan 2017 comment

Apple is raising App Store prices in the U.K. as much as 25 percent, bending to the pound’s drop in value following the country’s vote to leave the European Union, according to Bloomberg.

Xiaomi Aims to Exceed $14 Billion Sales

Xiaomi Aims to Exceed $14 Billion Sales

17 Jan 2017 comment

Xiaomi, one of China’s most valuable technology startups, is shooting for more than $14.5 billion of revenue in 2017, even as it pledged to slow its pace of business expansion and overhaul an online-focused retail strategy, according to Bloomberg.

Apple Said to Seek Original Shows to Expand Music Service

Apple Said to Seek Original Shows to Expand Music Service

17 Jan 2017 comment

Apple is taking additional steps to expand its music subscription service beyond just offering songs, according to Bloomberg. In a bid to differentiate itself from Spotify, which has about twice as many subscribers, Apple has been speaking with makers of original programming about buying rights to scripted shows and potentially movies, according to a person familiar with the subject.

Korean Prosecutor Seeks Arrest of Jay Y. Lee

Korean Prosecutor Seeks Arrest of Jay Y. Lee

16 Jan 2017 comment

Prosecutors are seeking a warrant to arrest Samsung’s Jay Y. Lee for allegations including bribery and embezzlement, a stunning turn for the scion of South Korea’s richest family groomed for decades to take over the company from his father, according to Bloomberg.

TSMC Profit Beats Estimates as Mobile Chip Demand Rises

TSMC Profit Beats Estimates as Mobile Chip Demand Rises

16 Jan 2017 comment

TSMC posted better-than-projected quarterly earnings, fueled by increasing demand for high-end microchips from biggest customer Apple as well as up-and-coming Chinese smartphone makers, according to Bloomberg. The world’s largest contract chipmaker also forecast revenue slightly below analysts’ estimates for the current quarter.

Fitbit Off to Slow Start in 2017 as Devices Pile Up

Fitbit Off to Slow Start in 2017 as Devices Pile Up

16 Jan 2017 comment

Fitbit isn’t starting off 2017 on a high note, according to Bloomberg. The maker of wearable fitness trackers halted production in mid-December because the devices were piling up at retailers and suppliers amid disappointing sales, according to a report by the firm. Demand so far this year is “characterized as weak,” Cleveland Research said, suggesting analysts’ estimates for 2016 fourth-quarter earnings may be too high.

Alibaba Takes Big Step Offline With $2.6 Billion Intime Deal

Alibaba Takes Big Step Offline With $2.6 Billion Intime Deal

15 Jan 2017 comment

Alibaba is leading a bid to take department store chain Intime Retail for as much as $2.6 billion, as China’s largest online retailer deepens its integration with brick-and-mortar stores, according to Bloomberg. The deal to buy out Intime adds to Alibaba’s burgeoning foothold in physical retail as it pursues growth beyond a slowing online business.

Samsung Vice Chairman Questioned for 22 Hours in Korea Bribery Probe

Samsung Vice Chairman Questioned for 22 Hours in Korea Bribery Probe

15 Jan 2017 comment

Prosecutors questioned Samsung’s vice chairman and heir apparent for about 22 hours in an influence-peddling probe that has reached the highest levels of government and business in South Korea, according to Bloomberg.

Apple Must Face Consumer Lawsuit Over iPhone Apps Monopoly

Apple Must Face Consumer Lawsuit Over iPhone Apps Monopoly

14 Jan 2017 comment

Apple must face consumer claims that it tried to monopolize the market for iPhone apps from 2007 to 2013 in a class-action lawsuit seeking hundreds of millions of dollars in damages, according to Bloomberg. A federal appeals court in San Francisco revived the proposed class-action lawsuit after a lower-court judge dismissed it.

Trump Promises ‘Full Report’ on Hacking in First 90 Days

Trump Promises ‘Full Report’ on Hacking in First 90 Days

14 Jan 2017 comment

President-elect Donald Trump said his administration would produce a full report on hacking within the first 90 days of his presidency and accused “political opponents and a failed spy” of making “phony allegations” against him, according to Bloomberg. “Totally made up facts by sleazebag political operatives, both Democrats and Republicans,” Trump said in a Twitter post, adding in a later tweet, “My people will have a full report on hacking within 90 days!’’

Nintendo Switch Off to Wobbly Start as Pricing, Timing Unveiled

Nintendo Switch Off to Wobbly Start as Pricing, Timing Unveiled

13 Jan 2017 comment

Nintendo’s new Switch gaming console is off to an underwhelming start, according to Bloomberg. The new machine, a tablet-sized device with wireless controllers that can be used anywhere but also connects to TVs, will go on sale March 3 at a price of $300, with a brand-new Zelda game as its launch title. None of that, however, was enough to convince investors that it will be a big moneymaker for the company, whose shares fell 5.8 percent after Nintendo executives held a presentation in Tokyo.

European Broadcasters Hook Up in Web Push

European Broadcasters Hook Up in Web Push

13 Jan 2017 comment

Three European broadcasting giants are joining forces to accelerate a push into online video, seeking scale as global internet services such as YouTube pull audiences and advertisers to the web, according to Bloomberg news report.

Bitcoin Price Slides as Chinese Officials Inspect Local Exchange

Bitcoin Price Slides as Chinese Officials Inspect Local Exchange

12 Jan 2017 comment

Bitcoin tumbled to a one-month low on worries that Chinese authorities are going to tighten their oversight of the digital currency. The price of bitcoin dropped to $752.5 , the lowest since Dec. 7, after a decline of as much as 16 percent in the previous session. It was trading down 2.6 percent in Hong Kong, according to data compiled by Bloomberg. The cryptocurrency hit an all-time high of $1,161.89 on Jan. 5.

Google and Facebook Face Tighter EU Grip With New Privacy Law

Google and Facebook Face Tighter EU Grip With New Privacy Law

11 Jan 2017 comment

Google, Facebook and other Internet companies will be covered by strict new European Union privacy rules that seek to limit access to consumers’ data, according to Bloomberg. The EU unveiled draft rules that would give online users more control of their settings and limit the “overload of consent requests” for cookies people encounter when browsing the web.

Atlassian to Buy Trello Maker for $425 Million

Atlassian to Buy Trello Maker for $425 Million

11 Jan 2017 comment

Atlassian, maker of work collaboration software Jira and HipChat, agreed to acquire Trello, which offers a popular project management app, for $425 million, according to Bloomberg. The purchase price consists of $360 million in cash and the rest in restricted stock and options, said Atlassian President Jay Simons in an interview.

Jack Ma Meets With Donald Trump to Talk About Creating Jobs

Jack Ma Meets With Donald Trump to Talk About Creating Jobs

10 Jan 2017 comment

Alibaba Chairman Jack Ma met with Donald Trump to discuss how the online retailer could help create 1 million new U.S. jobs, keying in on one of the president-elect’s chief concerns amid fraught relations between China and the incoming administration, according to Bloomberg. The Chinese e-commerce giant said the positions would be generated through Alibaba adding 1 million small and medium-sized U.S. businesses to its platforms, estimating that each one will hire a new person as a result of the added commerce.

Yahoo Plans to Shrink Board and Change Name After Verizon Deal

Yahoo Plans to Shrink Board and Change Name After Verizon Deal

10 Jan 2017 comment

Yahoo CEO Marissa Mayer is among six directors who plan to leave the board of the investment company that will be left after the closing of the proposed sale of Yahoo’s main internet properties to Verizon, according to Bloomberg. The new company will change its name to Altaba and reduce its board to five members as it looks ahead to its next chapter with fewer ties to the iconic brand, according to a filing.

Bisnode acquires Big Data company

Bisnode acquires Big Data company

10 Jan 2017 comment

Bisnode has invested in strengthening the group’s Big Data Analytics capabilities by acquiring the Brussels-based company Swan Insights SA/NV. Swan Insights is an award-winning, recognized Young Innovative Company providing new-generation Business Information solutions in Belgium, Luxembourg, Germany and the United Kingdom.

Merkel Government on Guard Against Political Cyberattack Threat

Merkel Government on Guard Against Political Cyberattack Threat

10 Jan 2017 comment

Chancellor Angela Merkel’s government is taking the threat of cyberattacks aimed at influencing German politics seriously and will also push back against so-called fake news, according to Bloomberg. “We know that one must reckon with the possibility of intervention in public opinion and also in the politics of another country,” Merkel's spokesman Steffen Seibert told reporters. Merkel is seeking a fourth term as chancellor in this year’s German election, which will probably be held in September.

Xiaomi Sales in India Pass $1 Billion

Xiaomi Sales in India Pass $1 Billion

9 Jan 2017 comment

Xiaomi surpassed $1 billion in annual India revenue two years after selling its first smartphone in the country, according to Bloomberg. The company said it grew shipments by almost 150 percent in 2016, selling two million smartphones in the third quarter alone. The company had focused on India since failing to meet sales targets and dropping to number four in a home market it once led.