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Business, Financial & Legal Posts - Page 5

Intel reports record-breaking Q2 revenue, ships over 100 million CPUs

According to the company's quarterly report, Intel has enjoyed a massive revenue boost, with it being the first time Intel was able to ship so many processors in a quarter. As the chipmaking giant shipped over 100 million processors in the last three months, the company generated a revenue of $14.6 billion during this time.

 

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Intel is very confident that the fourth quarter will generate consistency, with analysts predicting a $14.7 billion in revenue. As a result, the company generated $3.3 billion in net profits. Intel CEO Brian Krzanich said, "We are pleased by the progress the company is making, ". He continued, "We achieved our best-ever revenue and strong profits in the third quarter. There is more to do, but our results give us confidence that we're successfully executing to our strategy of extending our products across a broad range of exciting new markets."

 

The PC Client group generated a revenue of $9.2 billion, which is a 6% growth compared to Q3 2013 and a 9% boost year-over-year. Other business groups such as Data Center Group generated a total revenue of $3.7 billion during the previous quarter, which amounts to 16% growth year-over-year. But other groups such as Internet of Things group generated about $500 million in revenue which reflects a 2% down slide compared to the same three-month period of 2013. The Mobile and Communications groups generated a revenue of $1 million, but according to the company, it's consistent with its expectations. Meanwhile, the software and services group generated $558 million.

Google still learning about mobile ads, as clicks increase, not money

Google is still trying to sort itself out in the mobile advertising market, with cost per click advertising rates dropping 2 percent year-over-year, according to Google's financial results. Despite an increase in mobile advertising clicks, the average cost-per-click has declined, and it appears the Silicon Valley company is unsure what to do moving forward.

 

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As more users head to smartphones and tablets, Google wants to try to win over advertisers about the future of mobile advertising - but marketers aren't willing to spend the same amount for both desktop ads and mobile ads - and this problem won't suddenly go away.

 

Google currently holds 83 percent mobile search market share, according to StatCounter, but must continue to develop new strategies.

New York state won't require bitcoin developers to have license

The State of New York recently said bitcoin software developers aren't required to hold a "BitLicense" to work inside of the state. The BitLicense plan was introduced in New York in July, with a revised proposal expected before the end of the month - with bitcoin-related companies able to offer input and comments on the regulations.

 

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"We are regulating financial intermediaries," said Benjamin Lawsky, New York state superintendent of financial services. "We are not regulating software development. To clarify, we do not intend to regulate software as software or software development. For example, a software developer who creates and provides wallet software to customers for their own use will not need a license."

 

Thousands of retailers currently accept bitcoin - with additional businesses expected to jump on the bandwagon in 2015 - but the cryptocurrency's volatility remains a significant concern. Governments and major banks have been hesitant to try to embrace bitcoin, and that likely won't change any time soon.

Consumers, businesses testing out bitcoins, regulators not as happy

Thousands of businesses and e-tailers might have jumped on the bitcoin bandwagon, but that doesn't mean regulators are as enthusiastic. Without legal guidelines to help draw a clear road map, there is a risk that bitcoin innovation will be limited - even with more consumers interested in making purchases from retailers using the cryptocurrency.

 

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"We have sought to strike an appropriate balance that helps protect consumers and root out illegal activity - without stifling beneficial innovation," said Benjamin Lawsky, New York Superintendent Financial Services. "Setting up common sense rules of the road is vital to the long-term future of the virtual currency industry, as well as the safety and soundness of customer assets."

 

Bitcoins aren't insured or backed by banks, and that could make it difficult for regular users that want to keep the cryptocurrencies as an investment - and with some countries, such as Ecuador banning bitcoins - these type of problems will remain a significant problem moving forward.

Google expanding U.S. shopping delivery service, competing with Amazon

Google is planning to expand its same-day delivery service for U.S. consumers, in an effort to compete with Amazon and other companies interested in jumping into the online shopping market. Google Express will expand to Boston, Chicago and Washington D.C., in addition to current markets in parts of California and New York City.

 

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The service costs $10 per month - or $95 per year - slightly cheaper than the $99 per year cost of Amazon Prime. When consumers shop online, Amazon is one of their first stops while browsing, which is why Google hopes to shake up the industry a bit further.

 

Google is including additional retailers for its service, such as PetSmart and Vitamin Shoppe, with more retailers expected to jump on the bandwagon next year.

Twitter partners with French Bank to test out money transfers

Social media site Twitter has partnered with Groupe BPCE to test transferring money using tweets, as Twitter continues to show interest in online payments. Meanwhile, Groupe BPCE is the second largest bank in France based on total number of customers, with the money transfers available to customers of any bank.

 

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The bank's S-Money service will be responsible for managing Twitter-based payments, and already supports text message money transfers.

 

"(S-Money) offers Twitter users in France a new way to send each other money, irrespective of their bank and without having to enter the beneficiary's bank details, with a simple tweet," said S-Money chief executive, in a press statement.

Google could beat Apple to be the world's first $1 trillion company

It was only April of 2014 where most, ourselves included, thought Apple were well on its way to be valued at over $1 trillion. But, it looks like Google will beat Apple to this milestone, but it would have to more than double Apple's stock performance before 2020.

 

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While Apple makes consumer electronics and online services, like the iPhone, iTunes, and more, Google steps right out of those boundaries. It has a massively used search engine, mobile OS and hardware, partnerships with virtually every player in the technology and manufacturing industry, artificial intelligence, robotics, health technology, the list truly goes on.

 

Colin Gillis, an analyst with BGC Capital, wrote in a research note to clients on Friday: "If you look at the range of [projects] Google is attacking, it represents opportunities on a much more massive scale than Apple is addressing". He added: "What are we going to get from Apple - a thinner iPad?". Right now, Apple is the most valuable US company, with a market capitalization of $599 billion, compared to Google's $372 billion.

Apple remains the No. 1 most valuable brand in the world

Apple has been awarded the most valuable brand in the world for a second consecutive year, worth an estimated $119 billion, according to the Interbrands 2014 Best Global Brands list. There are four technology companies in the top 10 this year, though tech remains extremely fickle, forcing companies to try to adapt to changing customer demands.

 

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"A lot of our thinking about this year's report is really around the 'Age of You,'" said Alfred DuPuy, Interbrand Executive Director.

 

Trailing behind Apple is Google ($107.4 billion), a 15 percent increase year-over-year, and Coca-Cola round out the top three - with IBM, Microsoft, General Electric, Samsung, Toyota, McDonald's, and Mercedes-Benz round out the top 10 overall most valued brands in the world. As an honorable mention, Facebook's value increased 86 percent, and the company jumped up to No. 29 on the list - and will likely continue to rise.

1,000 workers walked off their jobs at Foxconn, are now on strike

Foxconn is in the headlines again, where it's being reported that around 1,000 workers at Foxconn's factory in southwest China walked off their jobs, to go on strike. The workers are demanding higher pay, after a recent increase in production, and reduction in overtime.

 

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The company is working with labor unions and its workers, in order to find a resolution for their issue. Foxconn has said that these strikes haven't halted production at the Chongqing production site. The Wall Street Journal is reporting that these issues started when management "continuously increased production volumes, and even required individual workers to take on tasks that used to require two workers to handle. The increase in workload wasn't compensated. Some workers are not happy because the company (Foxconn) has reduced overtime hours, a key component of their salaries".

 

These claims are coming from the WSJ's source, who is a Foxconn employee who wishes to remain anonymous. With around 30,000 workers at its Chongqing factory, the 1,000 or so workers on strike only represents a small number of workers, but is still a large amount of people to be on strike at once.

Man sues Red Bull because the energy drink didn't give him wings

Ever enjoyed a Red Bull, but wondered why you didn't grow wings? Well, so did Benjamin Careathers, who has sued the energy drink company. Careathers filed a lawsuit last year with the US District Court of the South District of New York, arguing that Red Bull mislead him and consumers about their claim that "Red Bull gives you wings", as well as the claims of increased performance, concentration and reaction speed.

 

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His suit argued: "Such deceptive conduct and practices mean that (Red Bull's) advertising and marketing is not just 'puffery,' but is instead deceptive and fraudulent and is therefore actionable". The result of his lawsuit? Red Bull agreeing to pay $13 million to settle the US class-action lawsuit, for his claims of false and misleading advertising.

 

The settlement includes many millions of people who had purchased at least one Red Bull in their life, over the last 12 years. Red Bull has offered class members the option of either a $10 reimbursement, or $15 worth of Red Bull products, which probably won't give you wings. This means that if you've purchased one if their energy drinks between January 1, 2002 and October 3, 2014, you can claim either of the two options from Red Bull, without proof of purchase required.

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