Business

Google Warns of New Rivals in Digital Assistants and Hardware

Google Warns of New Rivals in Digital Assistants and Hardware

4 Feb 2017 comment

Alphabet warned investors about a slew of new competitors, highlighting the company's broad expansion beyond its original Google search business, according to Bloomberg. The rivals are Apple, Netflix and Hulu, while highlighting risks from new businesses such as consumer hardware manufacturing, according to its latest annual report filed Friday with the U.S. Securities and Exchange Commission.

New Viber CEO Has Plan to Beat WhatsApp

New Viber CEO Has Plan to Beat WhatsApp

4 Feb 2017 comment

The newly named chief of Japanese retailer Rakuten’s messaging app Viber plans to quickly introduce new products to better compete with Facebook’s WhatsApp and Messenger as the market faces increasing regulation in the European Union, according to Bloomberg.

BT Board Jumps In to Purchase Stock

BT Board Jumps In to Purchase Stock

4 Feb 2017 comment

BT Group directors and their relatives bought more than $700,000 of its stock Monday and Tuesday, providing a vote of confidence in the former British telecommunications monopoly one week after it suffered a 21 percent drop, according to Bloomberg.

Amazon Forecast Sparks Investor Concern on Big Spending

Amazon Forecast Sparks Investor Concern on Big Spending

3 Feb 2017 comment

Amazon projected earnings for the current quarter that indicate stepped up spending on warehouses, movies and gadgets will continue this year at the expense of profits, according to Bloomberg. Operating income in the first quarter will be $250 million to $900 million, which is less than a year earlier even though revenue is forecast to increase as much as 23 percent to $35.8 billion.

Uber CEO Leaves Trumps Advisory Council

Uber CEO Leaves Trumps Advisory Council

3 Feb 2017 comment

Uber CEO Travis Kalanick is stepping down from President Donald Trump’s business advisory council after criticism from customers and drivers, according to Bloomberg. His participation on the council, along with more than a dozen other U.S. executives, prompted blow-back on social media after Trump’s controversial executive order on immigration.

Companies Said to Circulate Immigration Open Letter

Companies Said to Circulate Immigration Open Letter

3 Feb 2017 comment

U.S. companies including Facebook, Microsoft, Google, Apple and Amazon are circulating an open letter to President Donald Trump expressing concern about his recent order on immigration and offering help fixing it and other policies, according to Bloomberg.

Facebook Sales Top Estimates on Gains in Mobile Advertising

Facebook Sales Top Estimates on Gains in Mobile Advertising

3 Feb 2017 comment

Facebook’s fourth-quarter revenue climbed more than forecast, driven by advertisers’ continued push to reach consumers on mobile phones, according to Bloomberg. The world’s largest social-media company said sales jumped 51 percent to $8.81 billion, topping the $8.51 billion average analyst projection.

Amazon Plans to Build $1.5 Billion Air Hub Near Cincinnati

Amazon Plans to Build $1.5 Billion Air Hub Near Cincinnati

2 Feb 2017 comment

Amazon is building a new air hub near Cincinnati to support a growing fleet of planes that can move inventory around the U.S. so online shoppers get their orders quickly, according to Bloomberg. Amazon will invest $1.49 billion to build the facility on 900 acres at Cincinnati/Northern Kentucky International Airport, said Mindy Kershner, an airport spokeswoman.

Facebook Loses $500 Million Virtual Reality Headset Verdict

Facebook Loses $500 Million Virtual Reality Headset Verdict

2 Feb 2017 comment

The virtual reality headset maker that Facebook bought in 2014 for $2 billion used stolen technology, a jury said in awarding $500 million damages to ZeniMax, according to Bloomberg. Jurors in Dallas federal court sided with ZeniMax in its trade-secrets case over the Oculus Rift, the device that has put the social media giant at the forefront of the virtual reality boom.

SoFi Buys Mobile-Banking Startup Zenbanx for About $100 Million

SoFi Buys Mobile-Banking Startup Zenbanx for About $100 Million

2 Feb 2017 comment

Social Finance, the online lending company known as SoFi, is muscling further into the financial-services industry by acquiring mobile-banking startup Zenbanx, according to Bloomberg. SoFi is paying about $100 million in stock for Zenbanx’s technology, according to a person familiar with the agreement, which will serve as the framework for a new SoFi bank-account product that will offer services like checking and credit cards.

Facebook Hires Hugo Barra to Lead VR Efforts

Facebook Hires Hugo Barra to Lead VR Efforts

1 Feb 2017 comment

Facebook hired Hugo Barra to lead its virtual reality efforts just days after he quit Chinese smartphone maker Xiaomi, according to Bloomberg. Barra, who led Xiaomi’s international expansion, will now take on a different challenge as vice president of virtual reality.

Apple Sales Beat Estimates

Apple Sales Beat Estimates

1 Feb 2017 comment

Apple reported quarterly revenue that topped analyst projections, fueled by demand for the company’s latest and priciest iPhones, according to Bloomberg. Apple said sales rose 3.3 percent to $78.4 billion, with earnings of $3.36 a share in the three months through Dec. 31. Analysts forecast profit of $3.22 a share on revenue of $77.3 billion.

AmEx Joins JPMorgan, IBM in Hyperledger Blockchain Effort

AmEx Joins JPMorgan, IBM in Hyperledger Blockchain Effort

1 Feb 2017 comment

The biggest credit-card issuer by purchases, American Express, has signed on to the Hyperledger Project, a industry group of more than  100 members developing blockchain technology for corporate use, according to Bloomberg. The digital ledger known for underpinning bitcoin has potential to reshape the global financial system and other industries.

Kyocera and Its Subsidiaries Experienced Mixed Financial Results

Kyocera and Its Subsidiaries Experienced Mixed Financial Results

31 Jan 2017 comment

Kyocera Corporation announced its third-quarter financial results for the fiscal year ending March 31, 2017. The principal markets served by Kyocera Corporation and its subsidiaries experienced mixed results during this period.

Trump drafted an Executive Order Aimed at Work-visa Programs

Trump drafted an Executive Order Aimed at Work-visa Programs

30 Jan 2017 comment

President Donald Trump’s clash with Silicon Valley over immigration is about to become even more contentious, according to Bloomberg. After the new president banned refugees and travelers from seven predominantly Muslim countries, Google, Facebook, Salesforce, Microsoft and others railed against the move, saying it violated the country’s principles and risked disrupting its engine of innovation.

New IDC TechScape on IoT Analytics and AIM Technology

New IDC TechScape on IoT Analytics and AIM Technology

30 Jan 2017 comment

The Internet of Things (IoT) will substantially change the mix of enterprise analytics and information management (AIM) investments over the next 24 months to meet the scale, speed, flexibility and automation required to support sensor-based initiatives. A new report from IDC provides an assessment of 25 AIM technologies that support the IoT and provides guidance about maturity and adoption risk for each of the technologies.

Airbnb Said to Turn a Profit, Expects Earnings This Year

Airbnb Said to Turn a Profit, Expects Earnings This Year

30 Jan 2017 comment

Airbnb became profitable for the first time during the second half of 2016, according to people close to the company. Bloomberg reports that the home and apartment-rental company anticipates it will maintain profitability in 2017 before interest, taxes and amortization, said the people, who asked not to be identified discussing the private company’s earnings.

Microsoft Veteran Will Help Run Chinese Baidu

Microsoft Veteran Will Help Run Chinese Baidu

29 Jan 2017 comment

Baidu has appointed former Microsoft executive Qi Lu its group president and COO, granting the software industry veteran oversight over all aspects of the Chinese search giant’s business from sales to technology development, according to Bloomberg.

Uber Tops Business Travelers Spending For Gruound Transport

Uber Tops Business Travelers Spending For Gruound Transport

29 Jan 2017 comment

Uber increased its popularity among business travelers last year while use of rental cars and other traditional ground transportation options declined, according to Bloomberg. Ride-hailing company accounted for 52 percent of total ground transportation transactions through Certify’s system last quarter, amassing a majority of the market for the first time.

Google Recalls Staff to U.S. After Trump Immigration Order

Google Recalls Staff to U.S. After Trump Immigration Order

29 Jan 2017 comment

Google delivered a sharp message to staff traveling overseas who may be impacted by a new executive order on immigration from President Donald Trump: Get back to the U.S. now. CEO Sundar Pichai slammed Trump’s move in a note to employees, telling them that more than 100 company staff are affected by the order, according to Bloomberg.

SK Hynix Profit Tops Estimates

SK Hynix Profit Tops Estimates

28 Jan 2017 comment

SK Hynix, a supplier of memory chips to Apple, posted fourth-quarter profit that topped analysts’ estimates as semiconductor prices surged on robust demand for bigger storage in mobile devices and computers, according to Bloomberg.

Musk Said to Float Idea of a Carbon Tax to Trump

Musk Said to Float Idea of a Carbon Tax to Trump

27 Jan 2017 comment

Tesla founder Elon Musk is pressing the Trump administration to adopt a tax on carbon emissions, raising the issue directly with President Donald Trump and U.S. business leaders at a White House meeting Monday regarding manufacturing, according to Bloomberg.

Adopting Best Practices Will Enhance Public Sector Digital Transformation

Adopting Best Practices Will Enhance Public Sector Digital Transformation

27 Jan 2017 comment

According to new IDC study European countries have starkly different levels of ICT spending, and the efficiency of this spending is increasingly being discussed, as the performance against various international egovernment benchmarks does not always correlate with the level of investment.

Samsung Embarks on Share Buyback

Samsung Embarks on Share Buyback

27 Jan 2017 comment

Samsung’s profit more than doubled in the last three months of 2016 on robust semiconductor sales and a recovery in its mobile business, giving it enough stamina to buy back 9.3 trillion won ($8 billion) of its own shares, according to Bloomberg.

Ant Financial Buys MoneyGram for $880 Million

Ant Financial Buys MoneyGram for $880 Million

27 Jan 2017 comment

Ant Financial, the Alibaba affiliate controlled by billionaire Jack Ma, is buying U.S. money-transfer service MoneyGram for $880 million, according to Bloomberg. The acquisition marks Ant’s first deal with a U.S.-listed company, as it begins to explore markets beyond a home arena it already dominates.

Verizon Exploring Possible Combination With Charter

Verizon Exploring Possible Combination With Charter

26 Jan 2017 comment

Verizon is exploring a combination with Charter, the Wall Street Journal reported, in a deal that would create a telecommunications and cable giant and vault the combined company past Comcast as the No. 1 internet provider in the U.S.

Ericsson Sales Exceed Estimates

Ericsson Sales Exceed Estimates

26 Jan 2017 comment

Ericsson reported higher fourth-quarter revenue than analysts predicted, offering some relief to new CEO Borje Ekholm as he tries to stabilize the Swedish wireless network maker, according to Bloomberg. The stock jumped as much as 7 percent after Ericsson said revenue fell 11 percent to 65.2 billion kronor ($7.4 billion).

CeBIT 2017 Starts in Eight Weeks Time

CeBIT 2017 Starts in Eight Weeks Time

26 Jan 2017 comment

In just eight weeks’ time, the gates will be opening on CeBIT 2017. The show will feature a wealth of disruptive technologies, new business models and application scenarios. In short, everything needed for the digital transformation of business and government.

Big Marketing Push Pays Off for Pixel Phone Over Holiday

Big Marketing Push Pays Off for Pixel Phone Over Holiday

26 Jan 2017 comment

Ads for Google's Pixel phone were everywhere this holiday: Splashed across glossy magazines, the front of the New York Times website and spinning on TV during National Football League games. That aggressive marketing push, according to Bloomberg, produced a decent debut quarter for the smartphone, the first high-end device Google made itself.

Sprint Buys 33% of Music Streaming Service Tidal

Sprint Buys 33% of Music Streaming Service Tidal

26 Jan 2017 comment

Sprint acquired a 33 percent stake in music-streaming service Tidal as the fourth-largest U.S. wireless carrier turns to media streaming to attract more customers with exclusive content, according to Bloomberg. Marcelo Claure, Sprint’s chief executive officer, will join the Tidal board and musician Jay Z will continue to run the business, according to a statement.