Business

Facebook Accused of Misleading EU in WhatsApp Takeover Probe

Facebook Accused of Misleading EU in WhatsApp Takeover Probe

26 Dec 2016 comment

Facebook risks a multimillion-euro fine for allegedly misleading European Union merger watchdogs when it won approval to buy the WhatsApp messaging service in 2014, according to Bloomberg. The EU’s antitrust authority said it suspects Facebook supplied "incorrect or misleading information" on linking data with WhatsApp as officials investigated the tie-up two years ago.

Google Lowered 2015 Taxes by $3.6 Billion Using ‘Dutch Sandwich’

Google Lowered 2015 Taxes by $3.6 Billion Using ‘Dutch Sandwich’

25 Dec 2016 comment

Google saved $3.6 billion in worldwide taxes in 2015 by moving 14.9 billion euros to a Bermuda shell company, new regulatory filings in the Netherlands reveal, according to Bloomberg. The amount the company shifted through its Dutch subsidiaryand then on to a Bermuda mailbox was 40 percent greater than in 2014, according to filings the company made with the Dutch Chamber of Commerce.

Uber Quarterly Loss Said to Exceed $800 Million

Uber Quarterly Loss Said to Exceed $800 Million

25 Dec 2016 comment

Even as Uber exited China, the company's financial loss has remained eye-popping, according to Bloomberg. In the first nine months of this year, the ride-hailing company lost significantly more than $2.2 billion, according to a person familiar with the matter. In the third quarter, Uber lost more than $800 million, not including its Chinese operation.

Micron Soars Most in Five Years on Optimistic Sales Outlook

Micron Soars Most in Five Years on Optimistic Sales Outlook

24 Dec 2016 comment

Micron shares jumped the most in five years after the largest U.S. maker of memory chips predicted sales that exceeded some analysts’ estimates as demand for phone and computer parts is beginning to outstrip supplies, according to Bloomberg.

Twitter Says It Inflated Video Ad Views

Twitter Says It Inflated Video Ad Views

24 Dec 2016 comment

Twitter discovered a software bug that overstated how often video ads were viewed on Android phones, the latest snafu to shake faith in the measurement of digital advertising, according to Bloomberg. The company issued refunds to some clients who ran video ads on the Twitter Android app from Nov. 7 to Dec. 12.

Bitcoin Surges Above $900

Bitcoin Surges Above $900

24 Dec 2016 comment

Bitcoin headed for its biggest weekly jump since June as rising geopolitical risks boosted demand for alternative assets, according to Bloomberg. The cryptocurrency surged 15 percent this week to $900.40 as of 2:38 p.m. in Hong Kong, taking its gain this year to 107 percent, data compiled by Bloomberg show.

Maker of Spectacles for Dior Expands Into Smart Glasses

Maker of Spectacles for Dior Expands Into Smart Glasses

23 Dec 2016 comment

Safilo Group, the eyewear company that makes frames for Dior, Fendi and Hugo Boss, is looking to succeed in a high-tech category where even Google has struggled: smart glasses. According to Bloomberg the Italian company is debuting a set of Internet-connected spectacles next month at the Consumer Electronics Show in Las Vegas. Unlike Google Glass, a product that was discontinued last year, the Safilo frames won’t have a camera or display, they’ll just look like regular glasses.

Startup DAZN Wants to Stream Sports Online

Startup DAZN Wants to Stream Sports Online

23 Dec 2016 comment

Music mogul Len Blavatnik has begun to breach broadcasters’ last line of defense against the onslaught of online entertainment: sports. According to Bloomberg, DAZN, a startup backed by billionaire Blavatnik’s Access Industries, has planted its flag in Germany, where the company (pronounced “da zone”) has been offering Bundesliga highlights, live English Premier League soccer and NBA basketball online since August.

Uber Stops Self-Driving Car Program in California

Uber Stops Self-Driving Car Program in California

23 Dec 2016 comment

Uber pulled its self-driving cars from San Francisco’s streets after the state of California revoked registrations for the vehicles, according to Bloomberg. The move impacted 16 Uber automobiles, the Department of Motor Vehicles wrote in an e-mailed statement. The agency also issued a letter to the company inviting it to apply for a registration for autonomous vehicle testing, saying that it has a dedicated team to expedite the process. Uber said it had stopped using the cars in the state.

Japan Display Gets New Lifeline From Government-Backed Fund

Japan Display Gets New Lifeline From Government-Backed Fund

22 Dec 2016 comment

Japan Display, which has struggled to deliver consistent profits since it was formed by a government-backed fund four years ago, is going back for more money, according to Bloomberg. The Japanese maker of smartphone screens agreed to a 75 billion yen ($637 million) injection of cash from Innovation Network, which is already its largest shareholder.

FlixBus and Silver Lake Announce Strategic Investment

FlixBus and Silver Lake Announce Strategic Investment

22 Dec 2016 comment

FlixBus, one of Europe’s leading innovators in travel technology, and Silver Lake, the global leader in technology investing, announced that Silver Lake has made a strategic investment in the company. Existing investors General Atlantic, a leading global growth investor, Holtzbrinck Ventures and Daimler also participated in the investment round.

Southwest Airlines Website Fails During Holiday Travel Week

Southwest Airlines Website Fails During Holiday Travel Week

22 Dec 2016 comment

Southwest Airlines’s website failed Tuesday, blocking access to booking and flight check-in tools in a busy holiday travel week, according to Bloomberg. The failure affected all customers but didn’t have any impact on flights, the Dallas-based carrier said.

Amazon Sells Out of Echo Speakers

Amazon Sells Out of Echo Speakers

21 Dec 2016 comment

Amazon sold out of its voice-activated Echo speakers, highlighting the difficulty of correctly predicting demand for the holiday shopping season, according to Bloomberg. The $180 Echo is out of stock until Jan. 19 and the $50 Echo Dot won’t be available until after Christmas Day, according to Amazon listings. Both products were heavily discounted recently to compete with the newly released $129 Google Home with similar functions.

SocGen Computer Glitch Rippled Through Bond Derivatives

SocGen Computer Glitch Rippled Through Bond Derivatives

21 Dec 2016 comment

Societe Generale suffered a systems failure that rippled through several futures contracts last month, according to Bloomberg. This event is raising questions about the derivatives powerhouse’s risk oversight and the reliability of its technology.

TripAdvisor Rises Most Since March After Expedia Hotels Deal

TripAdvisor Rises Most Since March After Expedia Hotels Deal

21 Dec 2016 comment

TripAdvisor rose the most in nine months after it signed an agreement to let customers book some hotels from Expedia’s websites directly on TripAdvisor, a key development in the company’s transition from a review site to full-fledged hotel booker, according to Bloomberg.

Russia-Hack Probe Urged by Senators

Russia-Hack Probe Urged by Senators

20 Dec 2016 comment

Republican John McCain and three other senators called for a congressional inquiry into allegations of Russian interference in the U.S. presidential election, according to Bloomberg. But a top adviser to President-elect Donald Trump said there’s no public consensus among intelligence agencies over Moscow’s role.

GroundStone and Elements Sign Cooperation for Croatian Market

GroundStone and Elements Sign Cooperation for Croatian Market

20 Dec 2016 comment

The companies GroundStone Capital and Elements Capital Partners decided to join forces on the Croatian market and will focus on uncovering unique opportunities, offering traditional and innovative value-added advice and integrated solutions that help their investors and portfolio companies achieve their business goals.

Net Neutrality Rule Will Get Scrutiny From FCC Republicans

Net Neutrality Rule Will Get Scrutiny From FCC Republicans

20 Dec 2016 comment

Republicans poised to control the Federal Communications Commission next month said they’d revisit the net neutrality regulation “as soon as possible,” laying out plans to address a rule they’ve opposed and that Democrats support, according to Bloomberg.

Ten Minutes of Play Sums Up Messy Super Mario Debut

Ten Minutes of Play Sums Up Messy Super Mario Debut

19 Dec 2016 comment

Nintendo’s debut game for smartphones is turning out to be anything but super, according to Bloomberg. Since its release for Apple devices on Thursday, Super Mario Run has shot to the top of download charts in more than 100 countries as tens of millions celebrated the iconic video game character’s arrival on iPhones.

Apple Fights $13 Billion Euro Tax Bill

Apple Fights $13 Billion Euro Tax Bill

19 Dec 2016 comment

Apple has set up a court battle with European Union competition watchdogs who ordered Ireland to claw back a record 13 billion euro in unpaid taxes from the iPhone maker, according to Bloomberg. The U.S. tech giant said it formally appealed the EU’s August decision to the EU’s General Court in Luxembourg, as the European Commission and Ireland separately published details of their own arguments in the case.

Pilots Who Fly Amazon Planes Suggest Company May Not Deliver

Pilots Who Fly Amazon Planes Suggest Company May Not Deliver

19 Dec 2016 comment

Union pilots who fly products for Amazon are taking concerns about pay, working conditions and staffing shortages directly to online shoppers with a digital marketing blitz that suggests the internet retailer may struggle to deliver holiday gifts on time, according to Bloomberg.

New Measurement Mistakes by Facebook

New Measurement Mistakes by Facebook

18 Dec 2016 comment

Facebook revealed faulty metrics with Instant Articles, its mobile publishing system, the fourth disclosure of a measurement error since September, according to Bloomberg. The admission sharpened calls for more independent organizations to monitor the performance of digital advertising.

California AG Threatens Action Against Uber’s Self-Driving Cars

California AG Threatens Action Against Uber’s Self-Driving Cars

18 Dec 2016 comment

California Attorney General Kamala Harris has told Uber to pull its self-driving cars from San Francisco’s streets or it will seek a court order forcing it do so, saying the ride-hailing company needs a permit under autonomous vehicle regulations, according to Bloomberg. If Uber doesn’t comply with the state’s rules, “as have 20 other companies,” the attorney general’s office will ask a judge to require the self-driving cars be taken off the roads.

Airbnb Seeks to Increase Fundraising Round to $1 Billion

Airbnb Seeks to Increase Fundraising Round to $1 Billion

18 Dec 2016 comment

Airbnb authorized the sale of an additional $153 million in equity, bringing the size of its current fundraising effort to about $1 billion, according to Bloomberg. The financing values the home-rental startup at about $30 billion, people familiar with the matter have said. The additional equity was disclosed in a securities filing, according to research firm CB Insights.

Verizon Explores Lower Price or Exit From Yahoo Deal

Verizon Explores Lower Price or Exit From Yahoo Deal

17 Dec 2016 comment

Verizon is exploring a price cut or possible exit from its $4.83 billion pending acquisition of Yahoo, after the company reported a second major e-mail hack affecting as many as 1 billion user accounts, according to Bloomberg. While a Verizon group led by AOL Chief Executive Officer Tim Armstrong is still focused on integration planning to get Yahoo up and running, another team, walled off from the rest, is reviewing the breach disclosures and the company’s options, said the person, who asked not to be identified discussing private information.

Uber and Lyft Face Pushback From Hometown Taxis

Uber and Lyft Face Pushback From Hometown Taxis

17 Dec 2016 comment

A San Francisco taxi operator, desperate to protect a troubled industry’s turf, is trying to tighten the rules for Uber and Lyft in their hometown, according to Bloomberg. In a struggle playing out across the U.S. and in Europe, traditional cab companies have gone to court complaining they’re at a grave disadvantage because upstart ride-hailing services got a pass from regulators.

Strong Debut of Super Mario Run Clouded by Revenue Lag

Strong Debut of Super Mario Run Clouded by Revenue Lag

16 Dec 2016 comment

Super Mario Run, Nintendo’s first full foray into the world of mobile gaming, might be encountering some growing pains, according to Bloomberg. The game was at the top of download rankings in 68 countries, but was the highest grossing game in only 14, according to researcher SensorTower.

Yahoo Says Second Hack Affected More Than 1 Billion in 2013

Yahoo Says Second Hack Affected More Than 1 Billion in 2013

16 Dec 2016 comment

According to Bloomberg Yahoo disclosed a second major security breach that may have affected more than 1 billion user accounts, another blow to the company’s reputation as it nears the sale of its main web businesses to Verizon. The company said in a statement that it hasn’t been able to identify the “intrusion” associated with this theft by a third party in August 2013.

Murdoch Expands TV Empire With 11.7 Billion Pounds Sky Deal

Murdoch Expands TV Empire With 11.7 Billion Pounds Sky Deal

16 Dec 2016 comment

21st Century Fox agreed to acquire Sky for 11.7 billion pounds, in Rupert Murdoch’s second run at Europe’s dominant pay-TV company, as the media billionaire seeks to consolidate his television empire across two continents, according to Bloomberg.

Amazon Challenges Netflix With Low-Priced TV

Amazon Challenges Netflix With Low-Priced TV

16 Dec 2016 comment

Amazon’s new push to expand Prime Video into more than 200 countries and territories includes a bonus feature: a price that undercuts Netflix’s in many markets, according to Bloomberg. By going global, Amazon is following Netflix’s lead. The streaming-TV provider expanded its service to more than 190 countries earlier this year. In the third quarter, Netflix’s international revenue rose 65 percent from a year earlier as it added local languages and shows.