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Business, Financial & Legal Posts - Page 85

Square Enix boss steps down amidst "extraordinary loss" for this financial year

Square Enix has just lost their boss due to an "extraordinary loss" in their last financial year, with slow sales in console games in the West to blame, Square Enix said in a statement to investors. Yoichi Wada has been head of the company since 2000, and has now been replaced with former Square Enix president Yosuke Matsuda.

 

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Profit forecasts have been cut, making room of plans for "major reforms and restructuring" within Square Enix, something that will cost around $70 million to do so. Console game sales are the cause for these issues, and the restructuring, but it is the reforms themselves that will see the company tripping that line into the red this year. The company were expected to make a $24.4 million profit, but will now make a $90 million loss.

19-year-old receives 30 months in prison for 'lasering' two aircraft in 2012

Last October, 19-year-old Adam Gardenhire pleaded guilty to aiming a laser pointer at a private aircraft, and a police helicopter. On Monday, a federal judge based in California sentenced Gardenhire to 30 months in prison.

 

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President Obama signed in a law in February of last year, where aiming a laser pointer at an aircraft now deemed a federal crime. Gardenhire is the second person in the US to be sentenced under the new law, with four more Californians indicted on similar charges this month alone. Gardenhire pointed a "commercial-grade green laser" at two aircraft on March 29, causing the Cessna pilot to "suffer vision impairment that lasted for hours."

 

The second case saw a Pasadena Police Department helicopter pilot hit in the eyes with the laser, but he "was wearing protective gear and did not suffer eye damage or vision impairment as a result of the laser," according to a statement from the Office of the United States Attorney Central District of California that Ars Technica got their hands on.


RumorTT: Hulu up for sale once again?

Hulu is rumored to once again be up for sale, with the last news that News Corp and Disney were considering buying one another out, but now according to Reuters, anonymous sources are confirming that the board are reaching out to more than one potential buyer while they consider their options.

 

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Variety are chiming in too, where they've suggested that the two would remain part owners, and would welcome another party to join in on the fun. Hulu's owners have tried to sell the site previously, but this time we could actually see a deal solidified and completed, time will tell of course.

Foxconn makes a cool $3.2 billion in net profit, thanks Apple for letting them make their iPhones

Foxconn Technology have reporte their earnings for the year, seeing a nice net income of $3.2 billion according to the Financial Times. The company otherwise known as Hon Hai Precision are the company known for manufacturing some of the most popular devices in the world.

 

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If you didn't already know, these devices are better known as the iPhone, iPad and iPod. Hon Hai Precision are what they go by in their home country, where they beat analysts' predictions on high margins for these iOS-based products. Foxconn International Holdings is the world's largest cellphone maker, where they produce devices for a multitude of companies, including Apple, Nokia and Motorola, but suffered a net loss of $316.4 million.

 

Because of this, there is now some concerns that Foxconn's huge reliance on Apple is going to be a problem going into the future.

Yahoo buys news-summarizing app Summly for $30 million

Yahoo are on a continued mission to revamp their digital news and media business, with their latest acquisition of Summly, a startup that specializes in summarizing web content into a format made easier to consume media on a mobile device.

 

 

AllThingsD reports that the transaction saw Yahoo shifting $30 million to acquire the startup, 90% of it in cash with the remaining 10% in stock. The news gets better; with the iPhone app first designed by London-based Nick D'Aloisio, who was just fifteen years old when he created Summly.

 

What exactly does Summly do? Well, it allows you to choose your news sources from a bunch of pre-packages categories, or from your favorite websites. From there, it will let you enter keywords for topics that might be of interest too. Summly will also show you the latest stories that it has summarized in up to 400 characters, presented with a beautifully clean interface.

Continue reading 'Yahoo buys news-summarizing app Summly for $30 million' (full post)

T-Mobile confirmed to be talking iPhone at tomorrow's Uncarrier event

It's about time that T-Mobile got a legitimate iPhone. Currently, T-Mobile only has AT&T iPhones that have been unlocked. CNET has confirmed that T-Mobile will be talking iPhone at tomorrow's Uncarrier event. Tomorrow's Uncarrier event will be used to talk up the changes that T-Mobile are undergoing as they move towards a more European model.

 

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T-Mobile is ditching the whole two-year contract model. Along with that, T-Mobile is doing away with phone subsidies, though they are replacing subsidies with a similar option of paying a down-payment and then a monthly payment until the device is paid in full.

 

We expect T-Mobile to launch its 4G LTE network tomorrow with the iPhone 5 being the showcase device for the new network. We'll bring more T-Mobile news tomorrow as the Uncarrier event unfolds.

HTC ditching 'Quietly Brilliant' tagline, looking to be bolder with marketing

HTC has a lot riding on the HTC One. This device will make or break the "Quietly Brilliant" company. HTC Chief Marketing Officer Benjamin Ho wants to make sure that the HTC One makes the company. That's why HTC is retiring their "Quietly Brilliant" tagline and will be taking a more aggressive approach to advertising.

 

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"We have a lot of innovations but we haven't been loud enough," Mr. Ho said. We've already seen some of HTC's more agressive marketing. Outside the Galaxy S4 launch event, HTC employees demoed the new One device. They directly attacked the Galaxy S4 with the Twitter hashtag #theNextBigFlop.

 

We'll keep an eye on HTC to see if the new marketing strategy pays off. HTC really needs to come up with some great ads to help sell their devices. Making a great device doesn't hurt either.

Spotify launches ad campaign, looks to gain wider use

Streaming music provider Spotify is looking to move into the mainstream with a new series of TV advertisements. The first campaign kicks off with a spot during NBC's "The Voice." This particular advertisement will feature complementary Wed and social media components to increase engagement.

 

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This advertising campaign likely comes as a result of, at least partly, complaints by major music label executives that Spotify hasn't done enough to expand in the US market. In December, Spotify announced that they have one million paying subscribers in the US. It's worth noting they've only been in the US for a year and a half.

Continue reading 'Spotify launches ad campaign, looks to gain wider use' (full post)

NASDAQ to pay out just $62m to investors who lost an estimated $500m in Facebook IPO

We all remember that fateful day last year when Facebook had its IPO on the NASDAQ stock exchange. I'm sure most of us recall some of the difficulties associated with the IPO and how the price plummeted from its list price of $38. The estimated loss to investors due to the glitches suffered by the NASDAQ stock exchange is $500 million.

 

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NASDAQ will be paying out just $62 million to those affected. The United States Securities and Exchanges Commission (SEC) have agreed with this payout. Investors who had orders not completed or who were not correctly notified of buys or sells successfully completed are among the eligible.

Kim Dotcom looking to sue Hong Kong government

The Megaupload and Kim Dotcom saga just won't end. The latest from Mega's founder, Kim Dotcom, is that they are readying a lawsuit against the Hong Kong government over the raid of his business back in January 2012. He says the raid on his headquarters and freezing of his assets were illegal.

 

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Dotcom:

We were in the process of preparing a listing on the Hong Kong stock exchange and the valuation of our company was over $US2 billion. Fortunately, the US government will have to indemnify Hong Kong for any damages awarded to us.

 

So far, Dotcom's legal adventures have been fairly successful. He has won the right to sue New Zealand over the raid on his mansion and has yet to be extradited to the United States. We will have to wait and see if his legal successes continue to come.

 

Dotcom plans to keep his headquarters in Hong Kong due to the tax benefits. "It involves some US artists as potential shareholders and they want a more tax-friendly jurisdiction. That's why we looked at Hong Kong and Singapore."

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