Business

Chinese Camel Group Invests 30 Million Euro in Rimac Automobili and Greyp Bikes

Chinese Camel Group Invests 30 Million Euro in Rimac Automobili and Greyp Bikes

12 Apr 2017 comment

Chinese Camel Group announced that the company has decided to invest a total of 30 million Euros in two companies founded by Mate Rimac. Those are Rimac Automobili, a company producing the electric car and the parts for it, such as batteries and entertainment software, and Greyp, manufacturer of electric bikes.

U.S. Lawmakers Push to Widen Sanctions Probe Beyond ZTE

U.S. Lawmakers Push to Widen Sanctions Probe Beyond ZTE

12 Apr 2017 comment

A group of Republican lawmakers is pushing the Trump administration to investigate and unmask a company that may have violated Iran sanctions laws in the same way as Chinese mobile-phone maker ZTE, according to Bloomberg.

Russia Caves In on Bitcoin to Open New Front on Money Laundering

Russia Caves In on Bitcoin to Open New Front on Money Laundering

12 Apr 2017 comment

Only a year ago Russia’s Finance Ministry was threatening jail time to anyone using digital currencies. In a major U-turn, it’s now edging closer to their acceptance as a legitimate financial instrument to open a new line of attack on money laundering, according to Bloomberg.

Wristwear Dominates the Wearables Market

Wristwear Dominates the Wearables Market

12 Apr 2017 comment

The overall wearables market is expected to return to strong growth after a brief slowdown in 2016 that resulted from delayed launches of major platforms and notable vendors struggling to maintain pace.

LeEco Is Said to Miss U.S. Sales Forecasts

LeEco Is Said to Miss U.S. Sales Forecasts

12 Apr 2017 comment

Chinese technology conglomerate LeEco is sharply scaling back its U.S. ambitions, according to Bloomberg. The company missed its projections for 2016 sales in the U.S. by a wide margin and is planning to cut more than a third of its U.S. workforce.

Qualcomm Claims Apple Made Threats and Lied to Regulators

Qualcomm Claims Apple Made Threats and Lied to Regulators

11 Apr 2017 comment

Qualcomm accused Apple of lying to regulators to spur investigations of the chipmaker, and threatening it to cover up the use of inferior parts in some iPhones, according to Bloomberg.

Foreign Bidders Prove More Aggressive in Toshiba Chip Sale

Foreign Bidders Prove More Aggressive in Toshiba Chip Sale

11 Apr 2017 comment

Toshiba and the Japanese government want to sell the company’s semiconductor business to a domestic buyer, but foreign bidders are proving more determined and aggressive as the auction heads toward a final decision in the coming weeks, according to Bloomberg.

German Minister Seeks Rules to Attack Hackers on Foreign Soil

German Minister Seeks Rules to Attack Hackers on Foreign Soil

11 Apr 2017 comment

Germany is trying to beef up its cyber defense, after the interior minister called for rules that allow nations to attack foreign hackers targeting critical infrastructure, according to Bloomberg.

Nintendo Traders Signal Switch Could Be Bigger Hit Than the Wii

Nintendo Traders Signal Switch Could Be Bigger Hit Than the Wii

10 Apr 2017 comment

Traders are sending signals that Nintendo’s newest console Switch may be on its way to becoming a bigger hit than the Wii, the company’s best-selling home console of all-time, according to Bloomberg.

Amazon Said to Pay $50 Million to Stream NFL Thursday Games

Amazon Said to Pay $50 Million to Stream NFL Thursday Games

10 Apr 2017 comment

Amazon won the rights to broadcast 10 National Football League Thursday night games live online this season as part of its video subscription service, the online retailer’s latest effort to boost the value of Prime membership, according to Bloomberg.

Brexit Pushes VC to Look Outside U.K. for New Tech Investments

Brexit Pushes VC to Look Outside U.K. for New Tech Investments

10 Apr 2017 comment

83North, a venture capital firm with offices in London and Tel Aviv, has closed a new $250 million fund that will target early stage technology companies in Europe and Israel, according to Bloomberg.

Ex-Google Self-Driving Car Engineer Made More Than $120 Million

Ex-Google Self-Driving Car Engineer Made More Than $120 Million

9 Apr 2017 comment

A former Google engineer at the center of a fight over self-driving car technology made more than $120 million, according to a legal filing, highlighting the intense competition among tech companies and carmakers for talent in the nascent sector, according to Bloomberg.

Stores Are Closing at a Record Pace as Amazon Chews Up Retailers

Stores Are Closing at a Record Pace as Amazon Chews Up Retailers

9 Apr 2017 comment

The battered American retail industry took a few more lumps this week, with stores at both ends of the price spectrum preparing to close their doors, according to Bloomberg.

Twitter Drops Suit After U.S. Gives Up on Unmasking Trump Critic

Twitter Drops Suit After U.S. Gives Up on Unmasking Trump Critic

9 Apr 2017 comment

Twitter is dropping its free-speech lawsuit against the Trump administration over the government’s effort to unmask users critical of the president’s policies, according to Bloomberg.

Facebook Starts to Educate Users on How to Spot Fake News

Facebook Starts to Educate Users on How to Spot Fake News

8 Apr 2017 comment

Facebook spent the months since the U.S. election grappling with its role in the spread of false information. Now, according to Bloomberg, the world's largest social-networking platform is making good on its promise to educate users about fake news.

Samsung Withstands Scandals to Report Higher Profit and Revenue

Samsung Withstands Scandals to Report Higher Profit and Revenue

8 Apr 2017 comment

Samsung posted its best operating profit in almost four years on robust sales of memory chips and displays, showing that the core businesses remain stable even as its mobile unit recovers from a costly recall and the trial of the group’s de facto chief, according to Bloomberg.

Toshiba Said to Narrow Group of Bidders for Chips Business

Toshiba Said to Narrow Group of Bidders for Chips Business

8 Apr 2017 comment

Toshiba has narrowed the number of bidders for its semiconductor business from about 10 interested parties to a smaller group that includes Taiwan’s Hon Hai and Korea’s SK Hynix, according to Bloomberg citing people familiar with the matter.

Google Brings Fake News Fact-Checking to Search Results

Google Brings Fake News Fact-Checking to Search Results

8 Apr 2017 comment

The world's largest search engine Google is rolling out a new feature that places "Fact Check" tags on snippets of articles in its News results, according to Bloomberg. The Alphabet unit had already run limited tests. On Friday, it extended the capability to every listing in its News pages and massive search catalog.

Prosecutors Cite 39 Notebooks of Evidence in Samsung Graft Trial

Prosecutors Cite 39 Notebooks of Evidence in Samsung Graft Trial

7 Apr 2017 comment

South Korean prosecutors laid out their case against Samsung Electronics Vice Chairman Jay Y. Lee by outlining how a top presidential aide documented instances of alleged bribery in the pages of 39 handwritten notebooks, according to Bloomberg.

Gartner Completes Acquisition of CEB

Gartner Completes Acquisition of CEB

7 Apr 2017 comment

Gartner announced that it has completed its acquisition of CEB, the industry leader in providing best practice and talent management insights, for $54.00 in cash and 0.2284 shares of Gartner common stock, representing a total transaction value of approximately $2.6 billion.

Levandowski Fights Full Disclosure Over Waymo Secrets

Levandowski Fights Full Disclosure Over Waymo Secrets

7 Apr 2017 comment

Uber’s robocar project director wants his company to be spared from having to turn over certain documents in Waymo’s trade-secrets theft suit, saying he’s vulnerable to criminal prosecution, according to Bloomberg.

Peloton Raises Funding for Automated Truck Convoy Technology

Peloton Raises Funding for Automated Truck Convoy Technology

7 Apr 2017 comment

Peloton Technology, a startup backed by Intel, is raising more cash to fund its bid to improve highway safety and generate huge savings for the $700 billion trucking industry, according to Bloomberg.

Accused Yahoo Hacker Had Lamborghini and Aston Martin at 22

Accused Yahoo Hacker Had Lamborghini and Aston Martin at 22

6 Apr 2017 comment

A Canadian accused of hacking Yahoo email accounts on behalf of the Russian government appeared in court seeking bail ahead of a hearing to determine whether he should be extradited to the U.S. for trial, according to Bloomberg.

U.K. Increases Pressure on Google to Remove Terrorist Content

U.K. Increases Pressure on Google to Remove Terrorist Content

6 Apr 2017 comment

The U.K. increased the pressure on Google to crack down on terrorist content, with Prime Minister Theresa May saying the YouTube owner should do more to remove inappropriate material from the internet, according to Bloomberg.

New Verizon Unit Oath Will Debut When Yahoo Is Merged With AOL

New Verizon Unit Oath Will Debut When Yahoo Is Merged With AOL

6 Apr 2017 comment

Verizon will introduce a new division called Oath this summer, around the time the telecommunications giant expects to close its deal to combine its AOL unit with Yahoo’s internet assets, according to Bloomberg.

Rakuten Bets on Post-App Future With New Gaming Service

Rakuten Bets on Post-App Future With New Gaming Service

6 Apr 2017 comment

Japanese company Rakuten is betting on a future without apps, according to Bloomberg. They have unveiled Rakuten Games service, seeking to deliver titles that don’t have to be installed on phones or personal computers.

Trump Officials Alarmed China May Bid for Westinghouse Unit

Trump Officials Alarmed China May Bid for Westinghouse Unit

5 Apr 2017 comment

The Trump administration is so alarmed that Chinese investors may try to purchase Westinghouse’s nuclear business that U.S. officials are trying to find an American or allied buyer for the company instead, according to Bloomberg citing people familiar with the matter.

Merkel Cabinet Backs Facebook Fines to Stem Fake News in Germany

Merkel Cabinet Backs Facebook Fines to Stem Fake News in Germany

5 Apr 2017 comment

Germany pushed ahead with legislation that threatens social networks such as Facebook Inc. with fines of as much as 50 million euros if they fail to give users the option to complain about hate speech and fake news or refuse to remove illegal content, according to Bloomberg.

Google Changes Ad Policy Again to Try to End YouTube Crisis

Google Changes Ad Policy Again to Try to End YouTube Crisis

5 Apr 2017 comment

Two weeks after companies began yanking ads from YouTube because they were popping up next to hateful videos, Google is trying yet again to halt the crisis, according to Bloomberg. Alphabet's main division is introducing a new system that lets outside firms verify ad quality standards on its video service, while expanding its definitions of offensive content.

Apple Supplier Learns Downside of Having a Very Big Client

Apple Supplier Learns Downside of Having a Very Big Client

5 Apr 2017 comment

Inside every iPhone and iPad are dozens of small components made by suppliers whose businesses are tied to Apple. As Imagination Technologies Group has now learned, it’s lucrative to be a favorite Apple supplier, until you’re not, according to Bloomberg.