Business

Trump Moves to Realign Visa Allotments Key to Tech Outsourcing

Trump Moves to Realign Visa Allotments Key to Tech Outsourcing

19 Apr 2017 comment

American president Donald Trump took aim at information-technology outsourcing companies as he ordered a review of H-1B visa programs to favor more skilled and highly paid applicants, according to Bloomberg.

IBM Misses Estimates in 20th Straight Quarterly Revenue Decline

IBM Misses Estimates in 20th Straight Quarterly Revenue Decline

19 Apr 2017 comment

IBM’s revenue fell short of analysts’ projections, marking a 20th consecutive quarterly decline as growth in new businesses like cloud services and artificial intelligence failed to make up for slumping legacy hardware and software sales, according to Bloomberg.

New York City Plans to Force Uber to Add Tipping Option in App

New York City Plans to Force Uber to Add Tipping Option in App

19 Apr 2017 comment

New York City’s taxi and black car regulator plans to introduce a rule by July that would require Uber to add a tipping feature to its app, according to Bloomberg. Drivers have long complained that Uber has resisted such a move, even as other ride-hailing companies offer a way for customers to add gratuity.

VCs Hunt for Software Startups as Berlin Loses Crown

VCs Hunt for Software Startups as Berlin Loses Crown

18 Apr 2017 comment

Despite a lack of big consumer deals, and Berlin losing out to London as the European hub of venture capital, German investors have notched an up-tick in deals over the first quarter and are on the hunt for software startups, according to Bloomberg.

Chinese LeEco Ends Plan to Acquire U.S. TV Maker Vizio

Chinese LeEco Ends Plan to Acquire U.S. TV Maker Vizio

18 Apr 2017 comment

Chinese technology conglomerate LeEco abandoned its planned $2 billion acquisition of U.S television maker Vizio because of regulatory issues, and instead is exploring other ways to incorporate LeEco’s content into Vizio’s devices, according to Bloomberg.

Billionaire Facebook Backer Buying Commodities That Made Him

Billionaire Facebook Backer Buying Commodities That Made Him

17 Apr 2017 comment

The Russian tycoon who made $1.4 billion with an early bet on Facebook and still owns a stake in Uber is returning to the sooty old commodities industry that first made his fortune, according to Bloomberg.

Architect of Netflix Leaves After 18 Years

Architect of Netflix Leaves After 18 Years

17 Apr 2017 comment

Neil Hunt, one of the chief architects of Netflix’s streaming service, is leaving after 18 years, according to Bloomberg.

U.S. Crackdown on Russian Hackers Ensnares Notorious Spammer

U.S. Crackdown on Russian Hackers Ensnares Notorious Spammer

16 Apr 2017 comment

U.S. efforts to disrupt Russian hacking rings took another step as a 10-year pursuit of a Russian man whom U.S. prosecutors called one of the world’s most notorious email spammers ended with his arrest in Spain, according to Bloomberg.

Amazon Plans to Hire 30,000 Part-Time Workers Over Next Year

Amazon Plans to Hire 30,000 Part-Time Workers Over Next Year

15 Apr 2017 comment

Amazon will hire more than 30,000 part-time workers over the next year to staff its growing network of warehouses around the country and handle customer service issues which would be, the company said, the evidence of continued expected demand for the e-commerce giant, according to Bloomberg.

Minecraft Set to Launch its Own Currency

Minecraft Set to Launch its Own Currency

15 Apr 2017 comment

Microsoft is adding a new marketplace and a brand new currency within the video-game Minecraft, opening up the opportunity for businesses to sell their original content and creations to tens of millions of the game’s players for the first time, according to Bloomberg.

Uber Loss in 2016 Exceeded 2.8 Billion, 3.8 With China Business; Cash Burning Machine

Uber Loss in 2016 Exceeded 2.8 Billion, 3.8 With China Business; Cash Burning Machine

15 Apr 2017 comment

Uber isn’t required to report its finances publicly, but the privately held company has decided to forgo that luxury for the first time, according to Bloomberg. Uber said its revenue growth is outpacing losses, hoping to show the business is on a strong trajectory as it attempts to address a recent cascade of scandals.

Technology Hits Workers' Income Share More Than Trade, IMF Says

Technology Hits Workers' Income Share More Than Trade, IMF Says

15 Apr 2017 comment

The advance of technology is the biggest reason workers are earning a shrinking slice of the income pie, according to Bloomberg citing a new study by the International Monetary Fund.

Apple is Considering Helping Toshiba With Chip Unit Investment

Apple is Considering Helping Toshiba With Chip Unit Investment

14 Apr 2017 comment

Apple may be coming to Toshiba’s rescue, according to Bloomberg. The iPhone maker is actively looking at options for helping the troubled Japanese company by investing in its semiconductor unit, which has been put up for sale, according to people familiar with the matter.

Google's Ad Tech Rivals Seize Opportunity After YouTube Boycott

Google's Ad Tech Rivals Seize Opportunity After YouTube Boycott

14 Apr 2017 comment

Weeks after scores of advertisers boycotted YouTube, Google is still trying to mitigate the damage. Meanwhile, long-struggling competitors in the digital ad market are seizing the moment, according to Bloomberg.

Nintendo Might Release Mini-Size Switch in 2019

Nintendo Might Release Mini-Size Switch in 2019

14 Apr 2017 comment

More variations of the Switch can be expected as Nintendo continues to refine its home and portable business strategy, according to Bloomberg citing Citigroup. They say the new console is doing well, but is too big to truly combine home and portable gaming for everyone.

Prosecutors Allege Horse Laundering in Samsung Bribery Trial

Prosecutors Allege Horse Laundering in Samsung Bribery Trial

14 Apr 2017 comment

The South Korean trial of Samsung heir Jay Y. Lee for alleged bribery took an unusual twist Thursday as prosecutors said the company tried to conceal its gift of a 1 billion won horse ($885,000) by exchanging it for another animal, according to Bloomberg.

Facebook Buys Full-Page Ads in Germany in Battle With Fake News

Facebook Buys Full-Page Ads in Germany in Battle With Fake News

14 Apr 2017 comment

Facebook published full-page ads in Germany’s biggest newspapers advising readers on how to detect fake news, after Angela Merkel’s government pressured the company to do more to combat such content on its network, according to Bloomberg.

Western Digital Objects Plans for Toshiba Chip Business Sale

Western Digital Objects Plans for Toshiba Chip Business Sale

13 Apr 2017 comment

Toshiba’s plans to sell its memory chip business to raise much-needed cash hit a snag as joint-venture partner Western Digital said the sale may violate the companies’ contract, according to Bloomberg.

Worldwide Semiconductor Revenue Will Increase 12.3% in 2017

Worldwide Semiconductor Revenue Will Increase 12.3% in 2017

13 Apr 2017 comment

Worldwide semiconductor revenue is forecast to total $386 billion in 2017, an increase of 12.3 percent from 2016, according to Gartner.

BlackBerry Jumps as $814.9 Million Qualcomm Refund Bolsters Cash

BlackBerry Jumps as $814.9 Million Qualcomm Refund Bolsters Cash

13 Apr 2017 comment

BlackBerry stock rose the most in more than two years after it was awarded $814.9 million to end a dispute with Qualcomm over royalty payments, giving it cash needed to help recast itself as a software maker, according to Bloomberg.

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.