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Business, Financial & Legal Posts - Page 76

HTC's Q3 2013 sees $101 million operating loss

We know HTC aren't doing well, but it looks like the problem it is going through is continuing. The Taiwanese manufacturer has posted up its preliminary unaudited financial results for Q3 2013, posting an operating loss of $101 million.

 

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This is the first operating loss in HTC's history, but take a look at the break down in its Q3 2013 financials:

 

  • Total revenues of $1.6 billion (NT$47.05 billion)
  • Operating loss before tax of $119.4 million (NT$3.50 billion)
  • Operating loss after tax of $101.3 million (NT$2.97 billion)
  • Earnings per share after tax of -$0.12 (-NT$3.58)

Runnable say it wants to be the YouTube of shared code

A new startup is looking to be the defacto place coders and developers visit to search for existing code examples. The brainchild of Yash Kumar, a former software engineer at Amazon, has launched a new company called Runnable. The startup is dedicated to making all of the open source code, and existing code examples easily findable.

 

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The company has launched a website that aggregates APIs, scripts, and other reusable bits of code, which is said to greatly speed up the research and discovery process. Runnable says its users can search for specific code or APIs, upload and share their own code, and even search code by the language it was written in. Basically if you are a fan of 3D printing, Runnable is very much like Thingiverse.

Apple's $147 billion cash pile totals 10% of total US corporate cash

Apple currently enjoys swimming through its $147 billion pile of cash, with Moody estimating that Apple's massive pile of cash represents around 10% of the $1.48 trillion in cash held by non-financial American companies.

 

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This is a huge number, something that should make your head spin. Apple's cash reserves have actually grown since the end of last year, by around 9.5%. Apple has been spending billions of dollars in the meantime, with its cash pile still nearly double that of Microsoft's.

BlackBerry layoff costs skyrocket, will cost over $400 million

BlackBerry continue to hurt, even after it announces it is retreating out of the consumer handset market. It is being reported that the 4,500 layoffs the Canadian phone maker is doing, will cost them $400 million.

 

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This is four times the initial estimates, something we're finding out thanks to the regulatory filing that BlackBerry filed last week. The company also says that it "plans to unload factories, manufacturing gear and property." This all sounds like BlackBerry landed on Mayfair loaded with a hotel, and is now mortgaging everything it's got to not just sink.

 

BlackBerry reported last week its second quarter earnings, which saw a 49% year-over-year drop in revenues.

Google acquires startup company Flutter, who work on gesture tech

Before today, you probably haven't heard of Flutter, who are a startup company working on gesture recognition technology. Well, neither did I, but the startup has been acquired by Google.

 

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Flutter's gesture recognition technology focused on getting it working with a standard camera interface, such as webcams. Currently, Flutter only ships a Windows and Mac app, with this software continuing to work even though it has been acquired by Google. Google must see a future in the company, hence the acquisition that might help it with its future in gesture technology.

Bitcoin prices head south after news of Silk Road seizure spreads

Anyone who has been following the Bitcoin saga, will likely have ran across reports that the virtual currency is fueling the online drug trade. For anyone who doubted this, today's seizure of Silk Road proves just how closely connected the two really were. Reports suggest as much as $1 billion of Bitcoin transactions occurred as a direct result of Silk Road.

 

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Today as news began to spread about Silk Road being shut down by the FBI, the price of Bitcoins dropped from $130 down to just over $85. Analyst are speculating that the selloff was the direct result of Silk Roads seizure, and indicated that many users felt uncertain about the future of the virtual currency. There could potentially be millions of Bitcoins that are frozen in limbo as a result of the seizure, and they will most likely never be claimed by their owners. At the time of this writing, the Bitcoin price had rebounded to about $120.

Amazon's Jeff Bezos is now the official owner of The Washington Post

While I first broke the news that Amazon CEO, Jeff Bezos, had purchased The Washington Post, the sale was not finalized until this week. Yesterday the announcement came that the $250 million acquisition had been finalized, and that Bezos was now the sole owner of the near 80-year old company.

 

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While $250 million sounds like a lot of money to spend on a business which many consider a dying medium, Bezos has plenty of cash to spare. He founded Amazon.com back in 1994 and has since became one of the wealthiest men in the world. Bezos says that he plans to turn the post around and once again lead it to profit. Bezos commented that he will remain at the helm of Amazon, and that he will visit the Post from time to time, but will remain devoted to Amazon for the foreseeable future.

Tom Clancy has passed away at 66 years old

You've probably heard of Tom Clancy, as he's a best-selling author, but most gamers would know him thanks to his work on game franchises like Ghost Recon and Splinter Cell. Clancy died last night in hospital.

 

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The New York Times has confirmed the news unfortunately, directly from Clancy's publisher. Clancy back in 1996 helped create a game development studio called Red Storm Entertainment, where a bunch of games were made. The developer was scooped up by Ubisoft, who took the best franchises and continued making them under Clancy's name, such as Splinter Cell.

Some Microsoft shareholders think that Bill Gates needs to step down

A new report from Reuters says that three of Microsoft's biggest shareholders think that the company's founder, Bill Gates, should step down from his seat on the board. The shareholders suggest that Gates may prevent current CEO, Steve Ballmer's, replacement from bringing forth new innovation to the company.

 

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The report from Reuters reads:

 

The three investors are concerned that Gates' presence on the board effectively blocks the adoption of new strategies and would limit the power of a new chief executive to make substantial changes. In particular, they point to Gates' role on the special committee searching for Ballmer's successor.

 

They are also worried that Gates - who spends most of his time on his philanthropic foundation - wields power out of proportion to his declining shareholding.

 

While it is a bit of a stretch, many think that Ballmer was chosen as CEO because he was good friends with Gates, and that Gates could keep control of the company through Ballmer. Personally, I think that Gates has a right to sit on the board, and it is his duty to continue to advise the direction of the company he founded so many years ago.

Continue reading 'Some Microsoft shareholders think that Bill Gates needs to step down' (full post)

Samsung has sold over 40 million units in its Galaxy Note lineup

The Galaxy Note range of phablets from Samsung has been uber successful, after most in the industry didn't think a smartphone that big could really make it. Samsung broke tradition, and it worked, handsomely for them.

 

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It looks like Samsung is seeing great success from the Galaxy Note range of smartphones, with the South Korean giant confirming it has sold over 40 million Galaxy Note handsets across the world. This includes over 10 million Galaxy Note units, and over 30 million Note II devices. This doesn't include the Galaxy Note-branded tablets, and is exclusive to the Galaxy Note smartphones.

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