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Business, Financial & Legal Posts - Page 2

Facing heavy streaming music competition, Rhapsody appoints first CEO

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Apr 25, 2016 7:04 pm

Rhapsody International -- parent company of streaming music companies Rhapsody and Napster -- has appointed Mike Davis (pictured here) as its first CEO. Until now, the company has been led by executive committee.

 

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Davis' background lies in private equity; he recently served as a "growth adviser" and senior operating consultant to LA firm The Gores Group.

 

The move seems to be a response to the intense competition seen from Spotify and Apple Music, as has recent feature additions to the Rhapsody client in recent months.

 

Davis notes Rhapsody pioneered the concept of digital, subscription-based music and it's now taking hold in the industry at large. The company now sees itself playing catch-up to its own creation; if only for the sake of competition, one hopes Davis is the man for the job.

AMD looking to move to smaller HQ in Silicon Valley, sources say

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Apr 25, 2016 4:08 pm

AMD's longstanding residence of the Sunnyvale campus will be no more before long, rumor has it; The Irvine Company is set to buy it from New York real estate investment trust W.P. Carey, according to real estate sources. Irvine Company is known to raze offices and R&D campuses, so it makes sense that we're hearing AMD is consequently seeking another headquarters in Silicon Valley.

 

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While the company forecast for AMD has been looking increasingly better in recent times, it's still 2,000 employees shy of what it was in 2011, and so it's said to be looking at properties with a 35 to 40 percent footprint reduction, or about 175,000 - 225,000 square feet versus the 319,000 square feet of its current location.

Continue reading 'AMD looking to move to smaller HQ in Silicon Valley, sources say' (full post)

AMD stock rises 52%, biggest gainer and most active stock on NASDAQ

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Apr 23, 2016 11:54 am

AMD has had a great week, topping it off with a huge 52% rise in stock to $3.99. This is the highest gain in a single day since AMD stock was listed, all the way back in 1979.

 

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For the day, AMD was the biggest gainer and the most active stock on the NASDAQ exchange - with 140 million AMD shares traded. This is 10x the 50-day average of 12 million or so. Why the sudden and huge spike in AMD shares? The company just landed a joint venture deal to sell high performance enterprise x86 processors to the Chinese market.

 

This move will see AMD compete with Intel on a grander scale, as it has AMD providing the technical knowledge, while THATIC provides the resources, and financial support. The licensing deal should see AMD secure $293 million, plus royalties.

 

Even better, is that AMD has three semi-custom designs in upcoming consoles. This means that AMD will have technology inside of the next-gen Xbox, PlayStation and Nintendo consoles - which is an insanely huge win for the company.

iBooks, iTunes movies blocked from sale in China

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Apr 22, 2016 7:00 pm

iBooks and iTunes movies became available in China seven months ago; now both are blocked from sale on orders from the State Administration of Press, Publication, Radio, Film, and Television. Apple Music and Apple Pay are said to still work.

 

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The electronics giant hopes its services will return "as soon as possible." No doubt there given China is Apple's second biggest market. It declined to offer details on the blockade, but it's known that Chinese regulators are motivated in such decisions by a desire to control media and its population in the name of the Communist Party as well as to favor Apple's Chinese competitors.

Intel does it, announces major restructuring, cutting 11% of its jobs

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Apr 20, 2016 8:00 am

We reported a couple of days ago that Intel was preparing for major global workforce cuts, with the chipmaker announcing that they will indeed be cutting jobs over the next year.

 

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The employment cut is part of Intel's larger and continued restructuring efforts, as the company is facing a slower PC market, and continued struggles in the mobile market. The job cuts will see 12,000 employees sliced away from the company, or 11% of its global workforce. Intel will begin most of the layoffs in the next 60 days, with the entire process working its way through to 2017.

 

Patrick Moorhead, President and Principal Analyst with Moor Insights & Strategy reached out to us about the global workforce layoffs at Intel, saying: "In spite of the announced layoffs, Intel had a good quarter and even showed PC growth in a very down PC quarter. In fact, all but one segment showed improvements year on year".

Continue reading 'Intel does it, announces major restructuring, cutting 11% of its jobs' (full post)

Google wins 11-year court battle over book rights

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Apr 19, 2016 5:34 pm

In 2005, the Authors Guild sued Google for scanning book excerpts for its database. 11 years later, the battle is over, and Google has won resoundingly following a judgment from the Supreme Court, which denied the option for appeal.

 

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The Guild claimed the project hurt authors' abilities to make money from their work, while Google claimed everything it was doing was protected under fair use laws. After the ruling, both parties echoed these sentiments.

 

"We believed then and we believe now that authors should be compensated when their work is copied for commercial purposes," said Authors Guild president Roxana Robinson.

Continue reading 'Google wins 11-year court battle over book rights' (full post)

Intel reportedly preparing for thousands of fresh layoffs

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Apr 17, 2016 6:24 am

While Intel is shrinking down to 14nm right now, it is reportedly looking to shrink down its job numbers, with a new "significant round of job across across business units this spring", reports Oregon Live.

 

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At the end of 2015, Intel had 107,000 employees worldwide, with its Oregon-based operations including 19,500 employees. The new cutbacks will reportedly reduce employment in some parts of Intel's business by double-digit percentages, which will result in thousands of job cuts by the end of 2016. We could expect the announcement soon after Intel reports its Q1 financial results on Thursday.

 

Last year, Intel sliced up 1,100 jobs - but these fresh job cuts will reportedly be even more severe. The company is still insanely profitable, with gross profit margins higher than 60%. Even this year, Intel's forecast sales growth is somewhere higher than 5%, but the job cuts are still reportedly on their way.

iPhone sales expected to experience their first-ever decline this year

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Apr 16, 2016 6:22 am

If there's one thing that Apple has done better than every other smartphone company, is that their iPhone sales have increased year-over-year... forever - until now, that is.

 

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It's expected that 2016 will be the first year that iPhone sales will experience a decline, with Tom Cook even teasing this during Apple's earnings conference call earlier this year. Cook said: "We do think iPhone units will decline in the quarter. We don't think that they will decline to the levels you'll talk about. We aren't going to project beyond the upcoming quarter".

 

A new report from Nikkei suggests that the iPhone sales slump might hurt sales during the current June quarter, too. Nikkei reported: "Slow sales of the flagship iPhone 6s and iPhone 6s Plus, which debuted last autumn, have forced Apple to adjust inventories. It lowered production for the January-March quarter by about 30% from the year-earlier period. With sales still sluggish, the U.S. company has told parts suppliers in Japan and elsewhere that it will maintain the reduced output level in the current quarter".

Continue reading 'iPhone sales expected to experience their first-ever decline this year' (full post)

Bill passed by the House to limit FCC's power with Net Neutrality

By: Jeff Williams | More News: Business, Financial & Legal | Posted: Apr 16, 2016 1:03 am

Earlier today the US House of Representatives passed a bill, the No Rate Regulation of Broadband Internet Access Act, that would effectively limit the authority that the FCC has to regulate broadband pricing schemes according to the current Net Neutrality laws.

 

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The Net Neutrality rules that passed in February of 2015 reclassified broadband services as regulated telecom services, which would effectively allow the FCC the ability to regulate how these services are priced, setting caps so that its can be more affordable and available to a larger portion of the population, should they wish to. The Chairman of the FCC, Tom Wheeler, said that they don't currently have plans to do so, however. HR 2666, which passed earlier today, 241-173, was introduced as a measure to essentially hold them at their word. The reasoning behind limiting power preemptively is that the price of broadband should be determined by the market, not controlled by any one person or agency.

 

The bill itself doesn't quite focus purely on limiting pricing power, either. The Electronic Frontier Foundation opposes the new bill, saying that the terms are overly broad and much too general in their scope. This could potentially eliminate any, or all, protections consumers have against unfair pricing models or even when ISP's introduce data cap exceptions that seem to be arbitrarily made. Their definition of what a rate is, even, a bit vague, and could stand to be more specific.

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Google donates $20 million to help disabled people

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Apr 15, 2016 12:34 am

Google's philanthropic offshoot Google.org has donated $20 million across 30 non-profit organizations to further develop technology that will help the disabled. Its generosity follows the results of its Google Impact Challenge: Disabilities, which launched last year with the aim of seeking great technological ideas from different organizations, all seeking to improve the lives of the disabled.

 

 

The grant winners -- The Center for Discovery and Perkins School for the Blind among them -- will develop technology that can convert regular wheelchairs into power wheelchairs for increased independence and freedom, assist the blind in finding their way around better with an app, more readily treat children with clubfoot (rotated feet), and help those with difficulty communicating verbally or with text do so better with a specialized keyboard, among other things.

Continue reading 'Google donates $20 million to help disabled people' (full post)

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