Business, Financial & Legal News - Page 117

All the latest Business, Financial & Legal news as it relates to tech, gaming, and science - Page 117.

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Tumblr's CEO David Karp to step down by the end of the year

Jak Connor | Nov 28, 2017 6:25 AM CST

David Karp the CEO and founder of Tumblr since it's release back in 2007 will be stepping down from his company by the end of the year. Karp lead the company to a billion dollar status with Yahoo purchasing the company for $1.1 billion back in 2013.

Tumblr's CEO David Karp to step down by the end of the year

This year Verizon acquired Yahoo, combining both Tumblr and Yahoo's AOL service to create the digital media organization called Oath. Oath said in a statement to The Verge: "David founded Tumblr 10 years ago as a space for the world's creators, and we thank him for his commitment and passion driving the growth of the platform to almost 380 million blogs and over 155 billion posts."

This move is not known to be permanent or temporary but Karp has addressed his friends and colleagues in a letter before he abdicates. Within this letter it is expressed that this decision didn't come lightly and took "months of reflection on [his] personal ambitions."

Continue reading: Tumblr's CEO David Karp to step down by the end of the year (full post)

Criminals use Airbnb service to launder money

Jak Connor | Nov 28, 2017 3:45 AM CST

Criminals will exploit anything they can get their hands-on and the most recent online marketplace to be corrupted is sadly Airbnb. According to a Daily Beast report, Russian scammers are using the service to launder dirty cash through stolen credit cards. This would be done through the use of corrupted hosts which are being recruited through Russian-language crime forums across the web.

Criminals use Airbnb service to launder money

The process of which the crimals use the service as a money laundering system is not even a complex one. The criminals are purchasing or creating Airbnb accounts and then use them to request bookings through the colluding hosts which will then send back a cut of the profits made from the transaction. Instead of actually going to your rented apartment or house this transaction requires no people to move and can move up to $3000 at a single time dodged by any identification checks made by usual Governments.

In response to these allegations made by Daily Beast Airbnb has said it has extensive algorithms as security against any "suspicious activity". The company continued by expressing that it uses "micro authorization friction and 3D-Secure to verify if a credit card is being used by its owner and assess the level of risk associated with a transaction."

Continue reading: Criminals use Airbnb service to launder money (full post)

Amazon boss Jeff Bezos is now worth over $100 billion

Jak Connor | Nov 27, 2017 3:42 AM CST

Founder and CEO of Amazon, Jeff Bezos has had his net worth rise to $100.3 billion over the course of the Thanksgiving Black Friday sales. In 2017 Amazon's stock increased and with that increase Bezos has seen a $32.6 billion gain in his own worth.

Amazon boss Jeff Bezos is now worth over $100 billion

As a very successful businessman Bezos plans for the future to keep his company at the forefront of more and more industries, but now Bezos wants to change that, tweeting a "request for ideas" to help the immediate now.

Here's what Bezos tweeted out:

Continue reading: Amazon boss Jeff Bezos is now worth over $100 billion (full post)

Google helps pedophiles on YouTube with auto fill content

Anthony Garreffa | Nov 26, 2017 8:12 PM CST

I was just floating around on Twitter just now and stumbled across something Mike Cernovich re-tweeted, where he tagged @TeamYouTube on Twitter asking "Why does "How to have..." auto fill into pedophile content? Multiple people reported this to me."

Google helps pedophiles on YouTube with auto fill content

I didn't believe it, thinking it was some crazy "alt-right conspiracy theory" but nope, it's real. I went to YouTube and typed on "How To Have" and then it auto filled it to a few different options with YouTube providing "how to have s*x with your kids" (what the actual f**k) and then "how to have s * x" with kids (which is equally as f**ked up).

YouTube will have to have an incredibly good answer for this, because it's beyond not normal. Furthermore, the auto fill options seem to be aimed at the younger audience searching YouTube with "how to have your first kiss" and "how to have good handwriting", but then it's mixed up with pedophile-friendly searches that will direct young kids to sick content. I couldn't bear clicking them, so I have no idea what comes up in the searches. Ugh.

Continue reading: Google helps pedophiles on YouTube with auto fill content (full post)

Tencent the first Chinese company worth over $500 billion

Anthony Garreffa | Nov 21, 2017 9:51 PM CST

Tencent has been valued recently at $510 billion, making it the first Chinese company in history to be worth the half-trillion-dollar mark. It's a huge deal for the company, as it joins many others in the industry that are based in the US.

Tencent the first Chinese company worth over $500 billion

We're talking about some of the biggest companies in the world that include Google/Alphabet, Facebook, Microsoft, Microsoft, NVIDIA, Amazon, and more. Amazon reached $500 billion back when it went public in 1997, with social media giant Facebook hitting the $500 billion mark when it launched its IPO back in 2012.

Tencent went public in 2004 but has had absolutely phenomenal growrth over the last two years, with a shot to the moon in 2017 going from HK$175 per share to a huge HK$400+ per share.

Continue reading: Tencent the first Chinese company worth over $500 billion (full post)

Hasbro wants to acquire Mattel, would be a big toy story

Anthony Garreffa | Nov 13, 2017 3:48 AM CST

Hasbro has reportedly made an acquisition offer to buy Mattel, according to sources of The Wall Street Journal, a deal that would make for quite the toy story... pun intended.

Hasbro wants to acquire Mattel, would be a big toy story

The massive collaboration between companies would see a conglomerate that owned franchises like Hot Wheels and My Little Pony under one roof, but the deal has Hasbro attacking Mattel while its weak. Hasbro is buffed right now after the massive sales of its Disney-themed toys, with the Star Wars franchise mixed in for good measure, as well as licenses for massive franchises in both the movie and TV markets.

Mattel on the other hand, isn't doing too well as physical toy sales are down. Hasbro was smart and closed their manufacturing facilities a while ago, but Mattel hasn't because physical toy sales (that need to be manufactured) are their bread and butter. The deal between Hasbro and Mattel would ignite some flames with a US antitrust lawsuit, as they would truly become the kings of the toy market.

Continue reading: Hasbro wants to acquire Mattel, would be a big toy story (full post)

Qualcomm to reject Broadcom's huge $103 billion takeover bid

Anthony Garreffa | Nov 12, 2017 11:48 PM CST

The rumors of a Qualcomm takeover started a week ago with a huge $103 billion deal from Broadcom, but now Reuters is reporting that Qualcomm's board is planning to reject the offer.

Qualcomm to reject Broadcom's huge $103 billion takeover bid

Broadcom will reportedly offer $70 per share, which Reuters' sources say "undervalues the company and does not price in the uncertainty associated with getting the deal approved by regulators". Qualcomm is said to announce news of the $103 billion any minute now, but it might take a few days to trickle down to us in the real-world where $103 billion is unimaginable.

But as all big stories of $100 billion plus deals, Broadcom is said to be prepared to increase its bid to acquire Qualcomm according to Reuters' sources. It can get dirty from here, with Broadcom hoping to choose its own directors for Qualcomm's board, and if shareholders wants a deal, they can vote in new board members and force Qualcomm to negotiations.

Continue reading: Qualcomm to reject Broadcom's huge $103 billion takeover bid (full post)

Intel now has Raja inside, ex-AMD GPU boss to lead graphics

Anthony Garreffa | Nov 8, 2017 4:55 PM CST

A few days ago Intel announced it had collaborated with AMD on their new Kaby Lake G processor, with Radeon RX Vega GPU tech inside joined by 4GB of HBM2. 24 hours after that, Radeon Technologies Group Chief Architect, Raja Koduri, announced he was officially leaving. Rumor has it he was joining Intel, but even the largest analysts and tech media in the world didn't believe he'd join Intel for many reasons - anti-competitive reasons, and more.

Intel now has Raja inside, ex-AMD GPU boss to lead graphics

It's now confirmed that Raja Koduri has joined Intel as their Chief Architect, and Senior Vice President of the newly-formed Visual Computing Group. Raja will also be the General Manager of a new initiative that will push edge computing solutions.

Dr. Murthy Renduchintala, Intel's chief engineering officer and group president of the Client and Internet of Things Businesses and System Architecture said: "Raja is one of the most experienced, innovative and respected graphics and system architecture visionaries in the industry and the latest example of top technical talent to join Intel. We have exciting plans to aggressively expand our computing and graphics capabilities and build on our very strong and broad differentiated IP foundation. With Raja at the helm of our Core and Visual Computing Group, we will add to our portfolio of unmatched capabilities, advance our strategy to lead in computing and graphics, and ultimately be the driving force of the data revolution".

Continue reading: Intel now has Raja inside, ex-AMD GPU boss to lead graphics (full post)

Disney rumored to acquire Fox, would make them unstoppable

Anthony Garreffa | Nov 7, 2017 2:21 AM CST

Disney is thirsty for another massive acquisition, with CNBC reporting that the company is in discussions to buy 20th Century Fox, which is Fox's film and TV divisions. This purported deal would leave Fox to double down on its news and sports programs.

Disney rumored to acquire Fox, would make them unstoppable

Fox would sell its entertainment divisions and make a tidy sum of money, as they're not interested in selling their Fox broadcast network that includes Fox Sports, and the Fox News and Fox Business brands. That doesn't matter however, as Disney is legally bound from buying the Fox network because it already owns ABC, leading into antitrust issues with ESPN.

Disney through an acquisition of Fox's film and TV divisions would secure the company massive international assets like Star and Sky, as well as FX and National Geographic. This deal could do some major things for Disney which has acquired some large players in the last few years making them one of the biggest entertainment companies in the world with Pixar, Lucasfilm, and Marvel.

Continue reading: Disney rumored to acquire Fox, would make them unstoppable (full post)

Lenovo pays $245m for majority stake in Fujistu PC arm

Derek Strickland | Nov 4, 2017 5:29 PM CDT

Lenovo announced it will purchase a majority in Fujitsu's Client Computing branch in an effort to bolster its reduced PC market share.

Lenovo pays $245m for majority stake in Fujistu PC arm

Lenovo and the Development Bank of Japan have coordinated to acquire stake in Fujitsu's computing branch, with Lenovo purchasing a majority share at 51% and DBJ receiving 5% in the deal. Fujitsu will net about $245.45 million (28 billion yen) as part of the purchase contract, of which Lenovo will pay about $156.7 million in cash.

"The joint venture will focus on the research, development, design, manufacturing and sales of Client Computing Devices (CCD) for the global PC market," reads the press release announcement.

Continue reading: Lenovo pays $245m for majority stake in Fujistu PC arm (full post)