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Business, Financial & Legal Posts - Page 80

Cybercrime causes over $500 billion in economic losses per year

Every day that passes, cybercrime effects millions of people, and millions more dollars. This can happen with cyber thieves stealing intellectual property, or going as far as cyber espionage.

 

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According to McAfee's latest report, economic losses from cybercrimes adds up to as much as $500 billion per year. Their report goes as far as stating that cybercrime can destroy a company's image, jeapordize national security and see hundreds of thousands of people out of jobs. Cybercrime is now considered just as bad (if not worse) than physical crime, thanks to the economic domino effect it has.

 

McAfee's report states that for every $1 billion in loss from exports, approximately 5,080 jobs are lost. So if we're looking at global economic losses per year to reach $500 billion, this would have a detrimental effect on the global job market.

Nokia thinks Microsoft need to improve their Windows Phone platform

We all know that Microsoft's mobile OS, Windows Phone, isn't doing that well against the current champions found in iOS and Android. But when your strongest partner, Nokia, starts talking smack about your mobile OS, you should stand up and listen.

 

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Nokia's Vice President, Bryan Biniak, spoke with IB Times UK on Friday, where he said that Microsoft haven't done enough to push their mobile OS against iOS and Android. Biniak added: "To give you a reason to switch. I need to make sure the apps that you care about on your device are not only on our phones, but are better. I also need to provide you unique experiences you can't get on other devices".

 

Biniak finished with: "We are releasing new devices frequently and for every new device, if there is an app that somebody cares about that's not there that's a missed opportunity of a sale. We are trying to evolve the cultural thinking [at Microsoft] to say 'time is of the essence.' Waiting until the end of your fiscal year when you need to close your targets, doesn't do us any good when I have phones to sell today."

Continue reading 'Nokia thinks Microsoft need to improve their Windows Phone platform' (full post)

Microsoft CEO Steve Ballmer admits the company built too many Surface RT tablets

Earlier this week, Microsoft CEO Steve Ballmer admitted that the company had in fact built too many Surface RT tablets and that they were not selling as many as previously expected. The announcement came during an internal town hall event where Ballmer and COO Kevin Turner attended to address concerns over the $900 million write off Microsoft recently had to make on its Surface tablets.

 

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"We built a few more devices than we could sell," admitted Ballmer. "We're not selling as many Windows devices as we want to." In an attempt to shore up losses, Microsoft recently cut the price of all of its Surface RT tablets by 30 percent worldwide, but we will not know if this has had any effect on sales for quite a few months.

 

With Apple's iOS devices, and all of the many of the companies with Android devices posting record numbers, it is beginning to look like Microsoft's foray into the mobile devices market may have become one of the biggest mistakes in the company's history.

Apple could be slapped with $490 million bill for eBook price-fixing debacle

Apple have been caught conspiring to fix eBook prices, something that might cost the iPhone maker $490 million. A lawyer from Hagens Berman, the lead class action firm involved in the case told GigaOM that Apple could pay three times' the publishers' total liabilities.

 

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This is minus the $166 million that the publishers have agreed to pay in separate settlements, but brings the total to be sucked out of Apple's cash piles to be $490 million. Considering they have just spent $16 billion buying their own shares - because, you know, they've been tanking pretty hard lately - this is nothing but a drop in the ocean to them.

 

Kind of like one of us mere mortals dropping $1 on the street from our wallet filled with $100 notes.

Activision Blizzard breaks up with Vivendi in a deal worth $8.2 billion

Activision Blizzard have just broken off their relationship with Vivendi in a deal worth $8.2 billion. Activision will be purchasing $5.83 billion worth of shares back, combined with a share purchase totaling $2.34 billion from an independent investor group led by Activision CEO, Bobby Kotick and co-chair Brian Kelly.

 

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This might just sound like yet another move for a big company, but Activision Blizzard own quite a lot of hot gaming properties, such as Call of Duty, World of Warcraft, Diablo, and more.

 

What will this mean for gamers? Well, Activision CEO Bobby Kotick has said that his company "should emerge even stronger -- an independent company with a best-in-class franchise portfolio...The transactions announced today will allow us to take advantage of attractive financing markets while still retaining more than $3 billion cash on hand to preserve financial stability".

Continue reading 'Activision Blizzard breaks up with Vivendi in a deal worth $8.2 billion' (full post)

Apple have been buying quite a lot of their own stock in the last few months

Apple have been buying quite a lot of AAPL shares lately, a little after they jumped the iShark late last year. Their original plan was to buy 10 million shares in their third fiscal quarter of 2013, but instead, they've scooped up over 36 million shares.

 

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Apple did this in two parts, using $4 billion in shares, and $12 billion through an accelerated share repurchase program. Apple purchased the shares at between $444 and $488 a piece. This is quite a lot of money, but the Cupertino-based company do have large cash reserves, but for that type of money they could've spent it better, acquiring companies that would see them grow and evolve.

 

Oh well.

Amazon now have over 97,000 employees, tripling in size in just three years

I knew Amazon were big, but being based in Australia, I never see the true scope of them. Well, Amazon.com reported their quarterly earnings today, disclosing a $7 million loss for the company.

 

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But there was a bright side to this news: they employ over 97,000 people. This includes both full- and part-time employees as of June 30, and is a number that is three times larger than what the company reported in 2010 of just 28,300 employees. This number does not include temporary workers, or contractors.

 

Amazon's employee count does include workers at their fulfillment centers around the world, so it's not just Americans that we're talking about here. But it's a number that shows just how big Amazon have gotten in the last three years alone.

Samsung enjoys record profits in Q2 2013 thanks to their Galaxy S4 smartphone

The Galaxy S4 has launched from Samsung, but just how much did it help them with their Q2 2013 earnings? Well, they made $8.5 billion in operating profits over revenues of an astonishing $51 billion. Both of these amounts are the highest Samsung have ever posted in a single quarter, but they still fell short of Wall Street's expectations.

 

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Samsung have said: "smartphone shipments and revenue increased from the March quarter" which is thanks to the launch of their flagship Galaxy S4 and that "quarterly revenue for the mobile sector climbed 9 percent compared with the prior". The South Korean giant has promised that smartphone sales would increase, stating they would "pick up in the third quarter and outperform global market forecasts".

 

Samsung did see a large increase in their profits on display panels, with a 46% increase in quarterly profits thanks to the high demand for large TVs. When talking tablets, Samsung said they expect the market to grow "in the mid-10 percent range with the introduction of new tablets".

WikiLeaks Party launches in Australia, gets slammed by a DDoS from an American 'hacktivist'

Julian Assange has launched the WikiLeaks Party in Australia, all the way from his current 'home' in London's Ecuadorian embassy. The WikiLeaks Party have announced their candidates, shortly after their site went down due to a denial-of-service (DDoS) attack from an American "hacktivist".

 

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The candidates for the WikiLeaks Party for the upcoming federal election in Australia are standing for New South Wales, Victoria and Western Australia. In New South Wales, we have human rights lawyer, Kellie Tranter, and academic, journalist and former public servant with the Department of External Affairs and Department of Foreign Affairs, Dr Alison Brionowski.

 

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Journalist, Gerry Georgatos and economist and CEO of the Epilepsy Association for Western Australia, Suresh Rajan, are standing for Western Australia. Victoria will see Julian Assange himself standing, as well as author, ethicist and activist, Dr Leslie Cannold and RMIT lecturer, Dr Binoy Kampmark.

Continue reading 'WikiLeaks Party launches in Australia, gets slammed by a DDoS from an American 'hacktivist'' (full post)

Intel declares quarterly cash dividend of 22.5 cents per share

If you just happen to be sitting on top of a few million shares of stock from the chip making giant Intel, then you are in for a treat on September 1. Intel's Board of Directors declared a quarterly dividend of 22.5 cents per share of the company's common stock. Only stockholders on record by August 7, 2013, will be eligible for the dividend.

 

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The previous quarter has been fairly nice to tech shareholders with many of Silicon Valley's biggest residents declaring quarterly dividends. The list includes telecommunications giant AT&T declaring 49 cents per share of common stock, and Apple being the biggest by paying $3.05 per share of common stock. Unfortunately, I misplaced that extra million shares of Apple I had laying around, so I guess all of you wonderful readers out there will just have to put up with me for at least another quarter of the year.

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