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Business, Financial & Legal Posts - Page 1

EU fines Google $2.7 billion for breaking antitrust law

By: Lana Jelic | More News: Business, Financial & Legal | Posted: 1 day, 18 hours ago

The EU (European Union) has fined Google for a record $2.7 billion for tampering with results on Google Shopping.

 

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The decision came after seven years of investigation which concluded that Google abused its market position and fixed search algorithms.

 

The European Commission said in their ruling that Google has 90 days to "stop favoring its own shopping service or face a further penalty per day of up to 5 percent of Alphabet's average daily global turnover", reports Reuters.

Continue reading 'EU fines Google $2.7 billion for breaking antitrust law' (full post)

Samsung is close to the world's most profitable company

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 2 days, 9 hours ago

Whatever electronics device you own, it probably has something manufactured or made by Samsung in it, which would lead to the company eventually getting to the point where they are tipping towards becoming the most profitable company of Q2 2017.

 

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According to ET News, Samsung will be showing off some record breaking numbers for Q2 2017 very soon, above the predicted $11.6 billion to $12.3 billion that analysts have Samsung pegged to announce. Samsung's main competitor Apple is poised to be under the South Korean's shadow in the financial fight with just $10.5 billion of earnings, very shy of Samsung's hefty lofts of $12 billion or more. Samsung hitting this amount would put them in the ballpark of the combined operating profits of tech industry giants Facebook, Google, Netflix, and Amazon - all expected to pull $11.1 billion.

 

Samsung's financial dominance comes from the fact that they have countless successful smartphones, tablets, notebooks, NAND, DRAM, AMOLED displays, and so much more. The likes of Apple and Google can't say that, especially in physical consumer products. Samsung, keep killing it.

Google eyeing off massive new complex in San Jose

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week ago

Google might dominate the internet, our smartphones, and everything in between but it seems that the company is looking at shuffling things over and opening up a new facility in San Jose, CA.

 

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The San Jose City Council has agreed to negotiate the sale of 16 parcels of land owned by the city, with San Jose's mayor and vice mayor strongly supporting Google, but the residents of San Jose... not so much. Google's purported new facility would be separate to its campus in Mountain View, and would see the Diridon Station area of San Jose turn into a gigantic transit hub - including a Google village and up to 20,000 jobs.

 

If Google recices the go-ahead, the search giant would build somewhere between 6-8 million square feet of office space, and up to 3000 units of housing. There would also be a high-speed rail line and BART trains, as there's the Amtrak and Caltrain hub in San Jose. Google has teamed with partners securing land for months, with two property investor groups throwing $130 million onto real estate in the surrounding areas.

Uber CEO resigns after months of controversy

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week ago

Uber is stumbling out of control, with CEO Travis Kalanick stepping down from the company. The New York Times is reporting that a group of major Uber investors demanded Kalanick's resignation on Tuesday.

 

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Kalanich eventually bowed to the demands after "hours of discussions", and will continue to stay on Uber's board and still has his hands-on a majority of voting shares. Kalanick said in a statement to the NYT: "I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors' request to step aside so that Uber can go back to building rather than be distracted with another fight".

 

The Uber board said: "Travis has always put Uber first. This is a bold decision and a sign of his devotion and love for Uber. By stepping away, he's taking the time to heal from his personal tragedy while giving the company room to fully embrace this new chapter in Uber's history. We look forward to continuing to serve with him on the board".

Vintage Apple sneakers auction starts at $15,000

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jun 8, 2017 2:47 am

For the hardcore Apple fans out there, you might be surprised to see that Heritage Auctions is planning to list a pair of prototype Apple sneakers that never made it to market, with the listing to hit eBay on June 11 starting at $15,000.

 

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The sneakers feature the old school rainbow Apple logo, and were only handed out to employees at the time. The near-mint condition sneakers make them a near one-of-a-kind, which explains their $15,000 starting price. For those who collect Apple hardware, software, and well - clothes and shoes, this could be quite the steal.

LeEco's crash in the US leaves hundreds unemployed

By: Lana Jelic | More News: Business, Financial & Legal | Posted: May 24, 2017 7:23 pm

Chinese smartphone manufacturer LeEco has announced that they will cut over 300 jobs at its US business, which is around 70% of its local force.

 

The cuts are being made to increase the company's investments in its home market. Last year, Jia Yueting said that the expansion to the US market had been too quick and costly.

 

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The company made a bold entry into America, but they failed to market itself appropriately, which resulted in this situation. Additionally, they failed to secure additional funds to continue growing the US operations at their current capacity which led to the layoffs.

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Uber Freight: Uber for long-haul truckers

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: May 20, 2017 1:26 am

Uber has just unveiled its new spin-off to its ride-sharing service, something it is offering long-haul truckers: Uber Freight.

 

 

Uber Freight looks like it'll be very similar to Uber, but a truck driver can select a load to pick up in the app, work out the payment method, destination, and deadline. Within seconds, the truck driver receives the confirmation, and away they go. Uber explains: "We take the guesswork out of finding and booking freight, which is often the most stressful part of a driver's day. What used to take several hours and multiple phone calls can now be achieved with the touch of a button".

 

Truck drivers are protected with Uber promising payment within 7 days, and unlike normal Uber, the company won't be charging Freight drivers their normal commission. Uber Freight is available to both iOS and Android devices, with truck drivers requiring the right insurance, license, and equipment - of course.

Continue reading 'Uber Freight: Uber for long-haul truckers' (full post)

Qualcomm and Microsoft taking over the world at Computex

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: May 19, 2017 3:57 am

If there was something that I'm excited for at Computex 2017 beyond my addiction to GPU technology with AMD showcasing their Radeon RX Vega graphics card at the show, it would be the curious party invitation from Qualcomm.

 

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The invitation I received is to a joint Qualcomm + Microsoft shindig, where they're asking the press to "join us under the stars at Computex 2017". The rest of the invite reads: "munch, mingle, and raise a glass to celebrate the growing ecosystem that will bring an out-of-this-world mobile PC experience to the masses".

 

Interesting. Very, very interesting.

 

It would seem that Qualcomm and Microsoft could reveal the next big thing in mobile PC technology, with a Snapdragon-powered full Windows 10 system, all in the palm of your hand.

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Qualcomm slaps Apple by suing iPhone manufacturers

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: May 17, 2017 12:03 pm

Qualcomm is hitting Apple in a totally new way starting today, with the mobile giant suing four of Apple's Taiwan-based contract manufacturers: Foxconn, Compal, Wistron, and Pegatron.

 

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Forbes reports that Qualcomm is suing these four manufacturers for not paying royalities to Qualcomm for the patents on its smartphone tech, including IP on cellular modems - you know, 3G/4G are a big thing. Don Rosenberg, Executive Vice President and General Counsel of Qualcomm said: "It is unfortunate that we must take this action against these long-time licensees to enforce our agreements, but we cannot allow these manufacturers and Apple to use our valuable intellectual property without paying the fair and reasonable royalties to which they have agreed".

 

Qualcomm has accused Apple of "strong arming" the contract manufacturers to stop paying the licensing fees they legally owe Qualcomm, which is a breach of the contract between Qualcomm and the manufacturers. Qualcomm adds that Apple has promised to contribute towards any damages that the contract manufacturers are hit with, as a result of them not paying Qualcomm's royalty fees.

 

Rosenberg continued: "As Apple continues to collect billions of dollars from consumer sales of its Qualcomm-enabled products, it is using its market power as the wealthiest company in the world to try to coerce unfair and unreasonable license terms from Qualcomm in its global attack on the company. Our license agreements with Apple's manufacturers remain valid and enforceable. The manufacturers must continue to live up to their obligations under these agreements and Apple should immediately cease its tortious interference".

 

I talked to Founder & Principal Analyst of Moor Insights & Strategy, Patrick Moorhead, and he said: "Apple does not have an IP license with Qualcomm, but rather Qualcomm has IP licenses with Apple's ODMs, so it makes sense that Qualcomm would need to sue the ODMs for payment due to their breach of contract. As immersed as the larger dispute between Apple and Qualcomm is in IP, the suit between Qualcomm and Apple's ODMs is about breach of contract due to non-payment which, ironically, is slated to be heard in San Diego, Qualcomm's home town".

Continue reading 'Qualcomm slaps Apple by suing iPhone manufacturers' (full post)

Star performer: OPPO R9s the best selling Android in Q1

By: Lana Jelic | More News: Business, Financial & Legal | Posted: May 12, 2017 9:26 pm

We recently reported that Chinese smartphone manufacturers are growing, especially Huawei, OPPO, and vivo. One of those companies has another reason to celebrate.

 

If asked "what was the best selling Android smartphone in Q1 2017", many would think of Samsung's smartphones, but they would be wrong. The clear winner, when it comes to Android phones, is OPPO with its R9s device.

 

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According to the latest research from Strategy Analytics, OPPO R9s was the star performer in the first three months of this year with 8.9 million shipped units.

Continue reading 'Star performer: OPPO R9s the best selling Android in Q1' (full post)

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