The International Energy Agency forecasts that global gasoline consumption has all but peaked as more efficient cars and the advent of electric vehicles from new players, such as Tesla, halt demand growth in the next 25 years, according to Bloomberg. That shift will have profound consequences for the oil-refining industry. “Electric cars are happening,” IEA Executive Director Fatih Birol said in an interview in London, adding that their number will rise from little more than 1 million last year to more than 150 million by 2040.
Veeam Software announced that the patent infringement cases Symantec (now Veritas) brought against Veeam more than four years ago are finally over with the federal district court’s dismissal with prejudice of the consolidated legal actions. The Court and the United States Patent and Trademark Office (USPTO) have vindicated Veeam’s approach to delivering Availability solutions for the Always-On Enterprise, demonstrating that vendors seeking to prolong the longevity of legacy technologies cannot suppress innovation and crush the innovative approaches of disruptive providers with unsubstantiated legal claims.
Every spring, the show features a lineup of around 3,000 exhibitors and attracts some 200,000 visitors to its home base in Hannover, Germany on CeBIT the biggest business IT fair in the world, said Hartwig von Saas, press officer from CeBIT on the conference in Ljubljana. The next CeBIT will be staged from 20 to 24 March 2017, with Japan as its official Partner Country.
Symantec Corp., one of the world’s largest cybersecurity companies, agreed to buy LifeLock Inc. for about $2.3 billion including debt to expand in services for identity protection, according to Bloomberg. Shares of LifeLock have risen 45 percent through Friday, giving it a market value of about $1.95 billion.
The first impression on the stock market after the newly elected president was in the red. Contrary to most pre-election polls, Donald Trump has beaten Hillary Clinton in the U.S. presidential election and will become the next President of the United States. While Trump’s supporters celebrated the surprise victory, others expressed their fears of what a Trump presidency might entail both politically and economically. As the political situation is now cooling down, and the stock is trading in this trend, but the first day was a turmoil for the tech stocks.
Facebook is taking steps to address its role in spreading fake news, such as enlisting the help of third-party fact checkers and posting warnings on dubious stories, according to Bloomberg. Chief Executive Officer Mark Zuckerberg responded to criticism that Facebook’s news feed rewarded false stories in the run-up to the U.S. presidential election, including a post that said Donald Trump was endorsed by the Pope.
Cisco Systems, the biggest maker of the equipment that’s the backbone of the internet, projected sales and profit that indicate corporate spending on technology hardware is slowing, according to Bloomberg. Profit before certain costs in the period that ends in January will be 55 cents to 57 cents a share and revenue may decline as much as 4 percent, the company said. Analysts projected profit of 59 cents a share and a 2 percent increase in sales to $12.1 billion, according to data compiled by Bloomberg.
Snow, a Snapchat clone that's conquering Asia, is now setting its sights beyond the region, betting that it can attract users with stickers that sometimes border on the bizarre, according to Bloomberg. While Snow, based in South Korea, mostly replicates Snapchat's features, there's something for everyone among its 400 live-motion filters, which include everything from a dancing octopus to Super Saiyan hair. By comparison, Snapchat offers about two dozen filters, which are renewed daily.
Sky, the dominant European pay-TV provider that built its franchise on sports, is becoming more selective about what broadcast rights it seeks as the company focuses more on entertainment, according to Bloomberg. The U.K.-based broadcaster, whose largest shareholder is 21st Century Fox, will prioritize the most important rights and let others go as it reduces dependence on sports, Chief Executive Officer Jeremy Darroch said at a Morgan Stanley investor conference in Barcelona.
Amazon is preparing to take its video streaming service worldwide in a challenge to Netflix, according to Bloomberg. Amazon, which currently offers the service in only a handful of countries, announced the plans in a blog post about “The Grand Tour,” a lavish new reality show featuring the former stars of BBC’s popular “Top Gear.”
Elon Musk’s Tesla Motors officially moved beyond cars and became a clean-energy company Thursday, as shareholders overwhelmingly approved the acquisition of SolarCity, according to Bloomberg. The deal, valued at about $2 billion, will integrate the maker of all-electric cars and batteries with the installer of rooftop solar panels. More than 85 percent of Tesla shares voted in favor of the merger.
Apple plans to cut the amount it charges to sell video services over the App Store, a move to appease partners whose movies and TV shows are vital to the technology giant’s video strategy, according to Bloomberg. The iPhone maker intends to reduce the slice of revenue it is paid by subscription video streaming apps from the current 30 percent to 15 percent, according to people familiar with the plans.
Today’s customers not only bank in branches but are also spending more time banking online. To engage these growing percentages, you need a digital banking strategy that allows customers to bank with you at any time and from any device.
Twitter suspended some accounts of prominent white supremacists as the social media company added tools to curb abuse and harassment, according to Bloomberg. Among those whose accounts were curbed, was Richard Spencer, Pax Dickinson, Ricky Vaughn and John Rivers. Spencer is often credited with spearheading the alternative-right movement, a loosely associated group of people who believe white identity is under attack by multiculturalism.
Apple has big plans to outfit its next iPhone with organic LED displays, seeking to entice consumers with new technology that’s already been embraced by other high-end smartphone makers. The trouble is, according to Bloomberg, that the four main suppliers for such components won’t have enough production capacity to make screens for all new iPhones next year, with constraints continuing into 2018, people familiar with the matter said, presenting a potential challenge for the company.
Microsoft submitted concessions to European Union antitrust officials examining its takeover of LinkedIn, which may allow the deal to win early-stage approval, according to Bloomberg. EU spokesman Ricardo Cardoso said regulators extended their deadline to rule on the deal to Dec. 6. The office software giant had until Nov. 15 to submit so-called remedies to the EU’s merger watchdog to allay any potential competition concerns.
Nintendo will release Super Mario Run worldwide for iPhone and iPad on Dec. 15 in U.S. time zones, a highly anticipated launch that has a high bar for success after this summer’s Pokemon Go phenomenon, according to Bloomberg. The first mobile edition starring one of Nintendo’s most iconic characters, will be free to download initially, and include an optional one-off payment of $9.99 to unlock all of the features.
Facebook said it discovered several mistakes in its reporting of metrics to partners and advertisers and vowed to be more transparent about errors in the future as it fixes the issue, according to Bloomberg. The social-networking company conducted a broad review after discovering three months ago that it had overstated how long people watched videos on its site.
Nokia predicted a 2017 profit margin for its main business that trailed estimates, disappointing investors who expected cost savings by the Finnish network manufacturer to kick in earlier, according to Bloomberg. The stock fell. The operating profit at its network division is set to be 8 percent to 10 percent of sales next year, the company, which is meeting with investors in Barcelona, said in a statement.
Google is going ahead with delayed plans to expand its London offices, saying it will build a 10-story building on the site in a move that the U.K. government called a vote of confidence in the country’s post-Brexit future, according to Bloomberg. The company said it would be able to house as many as 7,000 workers at the London campus after the expansion, 3,000 more than a spokesman said it currently employs in the U.K.
Microsoft struck a partnership with Elon Musk's artificial intelligence research group, OpenAI, and said the organization will use the company's Azure cloud system for most of its large-scale experiments, according to Bloomberg. OpenAI has been an early customer for Microsoft's Azure N-Series Virtual Machines, a powerful cloud-computing service that relies on Nvidia graphical processing units. The two will also collaborate on ways to advance AI research and its use, Microsoft and Open AI said in blog posts.
After being criticized for not paying its fair share of British tax, Google is trying to show it’s a good corporate citizen by offering five hours of free digital skills training to all U.K. residents, according to Bloomberg. Google chief executive officer Sundar Pichai said the company also will bring “virtual reality field trips” to 1 million British students and their teachers within the next year.
The stock market’s post-election bifurcation sharpened Monday as technology shares extended their worst performance since the start of the bull market on speculation Donald Trump’s trade and immigration policies will translate into lower earnings, according to Bloomberg. Apple, Facebook and Alphabet led the S&P 500 Information Technology Index down 1.7 percent for the biggest retreat since September.
Andreessen Horowitz and Steve Cohen’s Point72 Ventures are among investors in a $25 million funding round for Quantopian, the five-year-old online platform where coders build and run computerized trading programs, according to Bloomberg. The Boston-based firm plans to use the money to enhance its platform, adding portfolio optimization tools and providing more data for algorithms written by its 100,000 or so members.
Samsung is spending $8 billion to buy its way into a burgeoning market for automotive technology alongside Apple and Google, according to Bloomberg. The company is making its largest-ever overseas acquisition with an offer for Harman International Industries, angling to become the go-to supplier of everything from in-car entertainment to connected-auto services.
Tablets are among the top IT spending priorities for 2017 in European enterprises, with sectors such as education, hospitality, government, and transport ranking them among their top 3 priorities, according to a news study from IDC.
Rocket Internet backed Global Savings Group is partnering with the Daily Mail tabloid, bringing its discount-coupon service into the U.K in time for Black Friday and the Christmas shopping period, according to Bloomberg. The service will this month start its offerings on the website of Daily Mail and General Trust Plc’s flagship newspaper, Global Chief Operations Officer Johannes Wirth said Friday in a phone interview.
Facebook temporarily marked many of its users as dead on Friday, in a mysterious snafu the company hasn't yet explained, according to Bloomberg. Not even Chief Executive Officer Mark Zuckerberg was spared.
Alibaba managed to set another Singles’ Day record even as sales growth lagged last year’s, as the nation’s economic slowdown prompted consumers to throttle back, according to Bloomberg. Sales on its e-commerce platform climbed 32 percent to 120.7 billion yuan ($17.8 billion), easily topping last year’s total of 91.2 billion yuan. But that growth pace dwindled from last year’s 60 percent, a function of the scale that Chinese’s biggest shopping day has achieved as well as an economy expanding at its slowest pace in a quarter century.
Snap's plan for selling Spectacles depends largely on hype and scarcity, according to Bloomberg. The company began distributing the $130 Snapchat sunglasses, each with a built-in camera for shooting video, in a yellow pop-up vending machine on Thursday. The plan seems to be working: It's already going for as much as $1,000 a pop on EBay.