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 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.
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 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 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 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.
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.
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 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, 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, 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’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 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.
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 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.
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.
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.
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.
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 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.
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.
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 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 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 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.
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.
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.
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.
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’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.