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Business, Financial & Legal Posts - Page 1

Elon Musk refers to Apple as 'Tesla's graveyard'

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 16 hours, 23 mins ago

There have been a number of employees that have reportedly been poached from Tesla Motors by Apple to work on their rumored electric car project, but Tesla founder Elon Musk has had a few choice words to throw into the mix.




When talking with German newspaper Handselsblatt, Musk was questioned over the key members that Apple had secured, with Musk saying: "Important engineers? They have hired people we've fired. We always jokingly call Apple the 'Tesla Graveyard.' If you don't make it at Tesla, you go work at Apple. I'm not kidding".


It's quite the statement, with Musk continuing his laugh at Apple when he was asked if he saw the iMaker as a serious competitor to its electric vehicles, where he said: "Did you ever take a look at the Apple Watch". He added: "No, seriously: it's good that Apple is moving and investing in this direction. But cars are very complex compared to phones or smartwatches. You can't just go to a supplier like Foxconn and say: 'Build me a car.' But for Apple, the car is the next logical thing to finally offer a significant innovation. A new pencil or a bigger iPad alone were not relevant enough".

Uber hack in early 2014 allegedly traced back to the CTO of Lyft

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 day, 9 hours ago

Last year Uber was hacked with around 50,000 drivers' names and license numbers accessed, Uber's legal investigations into the attack led them to an IP address of who was responsible.




The address? The Chief Technology Officer of Lyft, Uber's competitor - at least according to two sources familiar with the matter. Uber announced it was hacked in February during a lawsuit it filed in the San Francisco federal court, so it could find out who was behind the IP address. According to the ride sharing giant's papers, an at-the-time unidentified person was using a Comcast IP address and had access to a security key that they used for the breach.


According to two of Reuters' sources, the IP address was traced back to the CTO of Lyft, Chris Lambert. The court papers have no correlation between the IP address and the person behind the attack, with Uber finding the IP address through a process of elimination where it worked through all of the IP addresses that accessed a critical security key that had been accidentally deposited on the public code-sharing platform, GitHub. As for the IP address, it was used by a VPN service based in Scandanavia, with the Judge Laurel Beeler saying that the information that Uber wanted through its subpoena for Comcast's records was "reasonably likely" to help reveal the "bad actor" behind the attack.

Continue reading 'Uber hack in early 2014 allegedly traced back to the CTO of Lyft' (full post)

Netflix increases its $8.99 per month plan to $9.99 per month

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 day, 15 hours ago

If you're a Netflix subscriber on the dual HD plan paying $8.99 per month, the company has just increased the price of this plan to $9.99 per month.




This is Netflix's most popular plan, with the company only increasing the price of this plan in the US, Canada and parts of Latin America. The new $9.99 pricing will take place after a grace period, while new subscribers can enjoy their free trial, but after the trial it will be locked at $9.99 per month for the HD on two screens at once ability.

Sony spins off one of its best divisions, its image sensor business

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 2 days, 10 hours ago

Sony has just announced it is spinning off one of the best parts of its business, with Sony's image sensor business now falling under a new entity; Sony Semiconductor Solutions Corporations. Under this new company, two subsidiaries will join it - Sony Semiconductor Corporation, and Sony LSI Design.




Last year alone, Sony was estimated to have supplied around 40% of all new image sensors for smartphones. The Japanese giant had two image sensors in each new iPhone, which was making Sony around $20 per iPhone sold according to analysts. Apple sold 74.5 million iPhones during last year's holiday quarter, so Sony is sitting pretty with its image sensor business.


Sony is shifting the image sensor business into its own entity because of profits, as it wants to make underperforming divisions of the company more accountable for their performance. This will stop those divisions from riding on the success of the image sensor and PlayStation divisions, which continue to make money for the company.


The standalone image sensor business will start off on April 1, 2016.

Valve's retail presence involves GameStop, EB Games and Game UK

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 4 days, 16 hours ago

Valve is getting close to the big launch of its Steam Machines, Steam Controllers and many more devices, with the company announcing it has partnered up with GameStop, EB Games and Game UK who will all serve as "exclusive non-digital retailer[s]".




These companies will be selling Valve's upcoming Steam Machines, Steam Controller and Steam Link streaming device. In the US and UK, there will be dedicated "Steam Sections" where gamers can get their hands on PC gaming hardware, like the Steam Controller and Steam Machines, as well as some pre-paid Steam cards.


Valve co-founder, Gabe Newell explains: "Creating a 'store within a store' across North America and the UK is a significant win for getting the first generation of Steam Hardware products into gamers' hands".

Apple's worth jumps 43% to $170 billion, still world's top brand

By: Derek Strickland | More News: Business, Financial & Legal | Posted: 5 days, 2 hours ago

Cupertino tech titan Apple has yet to be dethroned as the world's most profitable brand and continues its global dominance for the third year in a row.




According to new 2014 rankings published by Interbrand, Apple's total value has shot up by 43% for an estimated brand value of $170,276 million. The second place competitor, Google, sits just $50 million shy from breaking Apple's three-year streak at an estimated value of $120 billion. Microsoft is in fourth place with a brand value of $67 billion increase of 11%. Despite being a world leader in tech, Samsung sits at a cool seventh place with 0% gains and a brand value of $45 billion.


With its new line of iDevices including the iPhone 6S and iPhone 6S Plus, the 12.9-inch iPad Pro and even a smartring prototype, Apple is poised to continue its reign for 2015. Google has taken aim at the throne with its new Nexus 5X and Nexus 6P handsets that feature Project Fi network support.

Continue reading 'Apple's worth jumps 43% to $170 billion, still world's top brand' (full post)

Jack Dorsey reprises role as Twitter's CEO

By: Derek Strickland | More News: Business, Financial & Legal | Posted: 5 days, 7 hours ago

In a move that surprised absolutely no one, Twitter's board of directors has officially named Jack Dorsey as acting Chief Executive Officer of the social media giant.




As one of the original founders of Twitter, Dorsey was called back to action after ex-Twitter CEO Dick Costolo stepped down back in June. Within five months after being appointed to interim CEO, Dorsey reprised his role as acting CEO of the company--a position he previously held from 2007-2008. Interestingly enough, Dorsey will actually simultaneously stand as CEO of both Twitter and Square and also maintain his position in Disney's board of directors.


The official SEC filing notes that Dorsey won't be compensated for running the company, and Twitter has no future plans to pay him. This is largely due to the fact that as a co-founder, Dorsey owns a huge portion of company shares. "There are currently no plans to provide Mr. Dorsey with direct compensation for his role as Chief Executive Officer," reads the release.

Continue reading 'Jack Dorsey reprises role as Twitter's CEO' (full post)

Vinyl sales have outpaced streaming revenues, according to the RIAA

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 6 days, 14 hours ago

When you think about profits in the music industry, you'd think that by now the likes of Spotify and Pandora would be making hundreds of millions of dollars - but in reality, they don't.




According to the Recording Industry Association of America (RIAA), music streaming revenue has increased by 27% year-on-year, while vinyl sales have jumped 52% in the same period of time. In the first half of 2015, vinyl sales made $222 million while streaming revenue hit $163 million. Apple Music isn't included in these results, so the streaming side of things will see an uptick when Apple gets onboard.


According to data analyst Joshua Friedlander: "Overall, the music industry has become the most-digital in terms of all traditional media outlets - magazines, newspapers - in terms of transition. There is more optimism out there than there was. Two-thirds of the market is still physical [CDs]. It used to be monolithic. Now it's a mix of things, a revenue diversification that makes a more stable source to grow off of. [Streaming] services have mostly grown through word of mouth. There hasn't been a big Spotify advertising push. When you get a player like Apple involved, that really generates a whole new level of awareness".

Reload Studios, created by former COD creators, secures $4m funding

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

Reload Studios has just secured $4 million in its first round of funding, with Reload Studios' CEO James Chung saying: "Now the foundation is set. Gaining partners who believed in the future of VR is like gaining a huge army for the battle. We are ready to take on the whole world of VR".




The investors included Rothenberg Ventures, World Innovation Lab, Barunson E&A, YK CRCM RS LLC as well as a few undisclosed private backers. Reload Studios has only just announced its first VR title 'World War Toons' as well as the creation of its own VR Lab. The studio has partnered up with WoofbertVR, an arts education VR company.


General Partner at YK CRCM RS LLC, Chun Ding, said: "Today's digital consumers will best experience and embrace virtual reality through its most exciting and breath-taking content. We applaud the talented team at Reload Studios for what they have accomplished and are thrilled to partner with them to bring the best of these contents to the consumers".

AMD announces 5% of its workforce will be laid off to reduce costs

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

Hours after we broke news that AMD might not have the HBM2 game wrapped up, news has broken that AMD will be culling 5% of its global workforce. Around 500 jobs will be lost due to a restructuring process, which is said to streamline AMD's business and reduce costs as the company continues to struggle against Intel, reports Bloomberg.




AMD will record charges of around $42 million due to the restructuring plan, which will outsource some of its IT services and application development. The company will save around $2 million and $7 million in the last two quarters of the year, and a total savings of $58 million in 2016.


While Bloomberg might say this is down to Intel beating the company, AMD is taking an even worse battering from NVIDIA. In the discrete GPU market, NVIDIA controls 82% of the dGPU market share with its GeForce products, leaving AMD with scraps. The new Fiji-based cards powered by the next-generation High Bandwidth Memory seem to be few and far between, with stock not filling shelves, or gamers' PCs.

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