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Uber has just raised another $1 billion, which has the ride sharing giant being worth $50 billion, reaching the milestone two years quicker than Facebook did.
The company has attracted all sorts of different investors in its latest funding round, with one of them being Microsoft. According to sources of Bloomberg, Microsoft reportedly backed Uber by around $100 million. There's no information on what Microsoft's interest is in Uber, but abck in June, Uber secured itself a slice of Bing's mapping technology, as well as around 100 employees from Microsoft.
Microsoft isn't the first company to invest into Uber, with Chinese internet giant Baidu throwing some money into the ring, with an investment that is said to be around $600 million. Amazon founder Jeff Bezos has also invested into the company, all the way back in 2011, as well as Google Ventures pledging $258 million in 2013.
Sharp's Aquos line of TVs might be popular amongst enthusiasts, but the company has been forced to pull out of the LCD TV business in the United States after various financial problems had Sharp's hands tied behind its back.
The company sold its Mexican factory for $23.7 million, along with the rights to its Sharp brand in both North and South America to Chinese TV maker Hisense. Over the last quarter, Sharp lost $274 million, while over the last four years the Japanese giant has lost $13.4 billion. Sharp recently secured itself a $1.8 billion bailout, but company president Kozo Takahashi said: "we have to consider all options, including a spinoff of the LCD business. The LCD market is changing very rapidly".
Hisense has said: "The acquisition (of Sharp's brand) will help Hisense gain an upper hand in both North and South America". From here on out, Sharp's Aquos TV line up will continue to be sold in the US, but Hisense will be enjoying any profits made.
Uber is scratching to keep up with itself and its continuing demand, so the ridesharing giant has just announced that it is opening up a car-leasing program to people wanting to be Uber drivers.
The company has worked with Banco Santander in the US previously, but with Uber going in-house for its car leasing, it's an interesting move. Uber hasn't provided anymore details on the new move, such as the financial side of things - you know, like how much the monthly repayment is for would be Uber drivers.
Re/code is reporting that Uber will start leasing cars in California, Georgia and Maryland, but it will quickly expand into other states, and most likely overseas.
In a recently issued press release, LG Electronics announced a net profit of 206.38 million (226.4 billion KRW) over second-quarter 2015, in what it claims to be "an extremely challenging environment."
With the TV market being described as weak, revenue in this section amounted to 3.59 billion, with LG's mobile arena gathering 3.33 billion, marking a 1 percent increase from the same time last year. Home appliances and air solutions saw a larger 10 percent increase, reporting total sales amounting to 4.09 billion at an operating profit of 266 million.
LG claims that the current "sluggish global TV market" is particularly harsh in CIS, Latin America and Europe. This means that LG has posted a slight decline in operating profits in this area, seeing a drop of 222.52 million.
LG may have shipped 8.1 million LTE smartphones in the latest quarter, its best results ever by the way, but the profits that the South Korean giant is making per handset isn't so great.
The company saw operating profits of just 1.2 cents per smartphone, but with the G4 only being on sale in the United States for two months, LG's next quarter should hopefully be a little better. Moving to LG's Home Entertainment division, the company said that global demand for LCD TVs was "soft" with revenues dropping 22.7% to $3.59 billion.
Apple Music launched on June 30 and has quickly amassed more than 10 million subscribers, according to a report published by Hitsdailydouble.com.
The website spoke with anonymous sources inside a few major record labels, as Apple doesn't release those types of figures publicly. Each new member can enjoy a three-month free trial of the service, so it will be interesting to see how many subscribers stick around following the trial period.
The entry-level plan costs $9.99 per month, and a $14.99 per month family plan allows for up to six users to enjoy the streaming music service.
While there are Microsoft stores around the United States, the company will be opening its 'flagship' store in New York City's Fifth Avenue later in the fall, according to the company.
Microsoft is most likely waiting for the lucrative holiday season before it opens up shop in Fifth Avenue, as there will be plenty of new Windows 10 devices and PCs to sell, as well as the new OS itself. Surface is continuing to sell well, but with Windows 10 launching today, Microsoft is in the perfect position to open up a new flagship store.
Musicians have been vocal against Internet piracy - and sometimes against streaming music - but one person who has a more positive approach is David Guetta.
The French DJ and producer had a more optimistic approach to how music piracy can actually help boost attendance in concerts: "I just want people to have access to my music. If there was no piracy, why can I sell out 20,000 people every [time] in Brazil?" Guetta said while speaking to BBC. "Is it because of how many records we sold in the shops? Of course not."
Guetta previously gave away music in an effort to stifle piracy, and even had a rather amusing outlook: "I wish that every person who's listening to my music would send me a little check. That would make me a very rich person, that would be wonderful. But at the same time this is impossible. You can't fight progress, so you better embrace it."
Pandora CEO Brian McAndrews said the recent launch of Apple Music hasn't had an immediate impact on its own business.
Of course, Apple Music has been available for less than one month, and while the company works out a few issues, we'll have to wait and see what impact it may have on Pandora and Spotify. However, it looks like McAndrews had some strong words regarding the newest tradition to the streaming music market:
"In terms of the Apple Music, in Q2, of course, Apple Music launched at the end of June, so there was no impact," McAndrews noted during a recent earnings call. "Going forward, we feel really good about our trajectory and competitive position... there could be some listeners who experiment with the service and there could be some short-term impact, but we don't - we aren't seeing any meaningful listener impact at this time and we don't expect any long-term meaningful impact either."
A whopping $49 billion acquisition of DirecTV by AT&T has been approved by the Federal Communications Commission (FCC), and the two companies will now create the largest pay-TV business in the United States.
The deal allows AT&T to receive new revenue growth outside of its wireless service, while DirecTV desperately gets a broadband product that the company was unable to create for itself.
"The conditions imposed by the Commission address potential harms presented by the combination," according to the FCC. "The conditions also ensure that the benefits of the merger will be realized."