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Business, Financial & Legal Posts - Page 2

PayPal joins internet earner spree, reports 17 percent revenue rise

By: Chris Smith | More News: Business, Financial & Legal | Posted: Jan 28, 2016 4:34 pm

PayPal has joined Facebook in a positive earnings announcement , stating that it has enjoyed a revenue rise of 17 percent.

 

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The result of this rise was a 6 percent increase in stock, thanks to the reported fourth quarter adjusted revenue of $2.56 billion, marking a 17% improvement year-over-year and an adjusted net income of $443 million. This net income figure made for a 36 cents per share earning, ensuring a 27 percent growth since the fourth quarter of 2014 and helping cement PayPal as the king of digital payments.

 

Sporting a market cap of $39 billion, PayPal is enjoying a higher evaluation and better results than its sister company EBay, which is rated at $32 billion and has seen a recent 10 percent drop in shares, part of a turbulent existence since the seperateion of these two giants 2015.

EBay shares down 10 percent as other websites see record profits

By: Chris Smith | More News: Business, Financial & Legal | Posted: Jan 28, 2016 3:33 pm

While Facebook has smashed its profit reports and is seeing considerable growth, the online marketplace of EBay has hit some rough times.

 

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Its fourth-quarter earnings report was met with a 10 percent drop in shares, possibly due to a slow-moving holiday season - something that is certainly the bane of any marketplaces existence. Posting earnings of 50 cents per share on revenue of $2.3 billion, Tech Crunch reported that analysts were fairly on point - predicting this report to showcase 50 cents per share on revenue of $2.32 billion in this time period.

 

After the separation from PayPal in 2015 EBay hasn't seen any vast improvements, with experts placing further pressure on this internet giant to perform under the watchful eyes of worried investors.

Instagram's new product boss is an ex-Twitter executive

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jan 28, 2016 6:16 am

While Instagram is enjoying its ad network success, Twitter is bleeding staff. Kevil Weil, an ex-executive with the social media giant, has just left Twitter for the warm arms of Instagram.

 

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Weil will be Instagram's new Head of Product, and will be reporting directly to Twitter CEO Kevin Systrom. Weil has replaced Peter Deng who moved onto another part of Facebook's ever-increasing reach on the world, joining Oculus, earlier this month.

 

Instagram has been trying to snag Weil since last year, so Weil was smart to make his decision considering the exodus of staff from Twitter continues to mount.

Bill Gates tops richest person alive list once more

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Jan 27, 2016 10:00 pm

Research firm Wealth-X tracks data on the world's richest people, and their latest says Microsoft founder and philanthropist Bill Gates is on top of the pile yet again. What's more, it's not even close: he stands tall at $87.4bn, with fashion businessman Amancio Ortega in at 2nd with $66.8bn. Other familiar names include Warren Buffett (3rd with $60.7bn) and Mark Zuckerberg (8th with $42.8bn).

 

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To put things in broader perspective, Gates was recently ranked #9 on a list of the richest people of all time. Those ahead of him held claim to hundreds of billions of dollars or more; Augustus Caesar possessed $4.6 trillion, and Mansa Musa, the King of Timbuktu, is believed to be far beyond even that.

Apple reports $18.4 billion in profits for Q4 2015, sets a new record

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jan 27, 2016 8:33 am

Another quarter, another slew of trucks backing up to Apple's HQ and dumping piles of money. Apple profits have gone through the roof for the past three months, surpassing the record-breaking quarter Apple enjoyed in Q3 2015.

 

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Apple's Q4 2015 was magical, with $18.4 billion in profits from $75.9 billion in revenue. Apple noted the inflated profits and revenue to the average sale price of its best-selling devices - the iPhone, iPad and Mac - was also a record high, boosting Apple's margins to 40.1%. The company has also predicted its Q1 2016 results, where it's expected to hit $50-$53 billion, down from the $58 billion it pulled in during the same time last year.

 

Considering Apple only launched one new devices during the quarter, the oh-so-meh iPad Pro, it's surprising Apple did so well. But then you consider the insanely popular iPhone 6S and iPhone 6S Plus smartphones, and it begins to make sense. Apple is also seeing a decline in orders with its suppliers, but of course, Apple didn't talk about that with its earnings release - for obvious reasons.

Sprint lays off 2500 employees, shutting down four call centers

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jan 26, 2016 10:24 am

Sprint has just laid off a huge 2500 employees, with most of the job losses coming from customer service centers spread through the United States, according to Reuters.

 

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These layoffs will see Sprint closing four of its call centers, and scaling back two others. Customer service jobs are the most affected, with 2000 to be laid off from customer service rolls. The remaining 500 jobs will be cut from Sprint HQ. The company started off the year with 33,000 employees - but the layoffs have been expected for a while now, reports The Verge.

 

The company has fallen into fourth place in the wireless market, with Sprint trying to cut costs wherever it can - attempting to save $2.5 billion. Sprint's parent company said months ago that thousands of job cuts were in its immediate future, with the company set to notify employees by the end of the month.

New study finds Bitcoin users and non-users misinformed on Bitcoin

By: Jeff Williams | More News: Business, Financial & Legal | Posted: Jan 26, 2016 12:03 am

A peer-reviewed study was just published in May at the annual Association for Computing Machinery's Conference on Human Factors in Computing Systems in San Jose, and this novel study shows that both Bitcoin users and non-users have some surprising misconceptions about the digital currency.

 

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Simply put, the researchers found that people that didn't have experience with Bitcoin found it intimidating to use, and similarly those that are familiar with it were also not so well informed as to how it works. One of the most surprising findings was that those surveyed had misconception as to the ability of Bitcoin to actually protect someone's identity and help them remain anonymous. And they trust the security methods more than they should, and mostly without understanding how the underlying Bitcoin transaction process actually works.

 

Furthermore, at least half of the participants felt that the government should regulate, the currency or at the very least provide some sort of assurance against any fraud, which can occur. But overall the studies participants seemed to feel that a currency to Bitcoin would be ideal in a perfect world, because of the features it does have.

Continue reading 'New study finds Bitcoin users and non-users misinformed on Bitcoin' (full post)

Oculus founder won't escape lawsuit over stealing confidential data

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jan 21, 2016 6:07 am

Last year we reported about Oculus founder Palmer Luckey being caught up in an alleged case of misusing confidential data from his previous employer, and passing it off as his own.

 

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A judge ruled that Luckey has to face the core claim, which accuses him of breaching his contract with his previous employer - Total Recall Technologies - by using its proprietary knowledge to build the first Oculus Rift prototype. Even though he's being pulled into court over this piece of the puzzle, Luckey has dodged some VR bullets with the judge throwing out several other claims, including fraud.

 

Luckey says that Total Recall Technologies is just trying to get some of the $2 billion that Facebook paid for the VR startup, but now Luckey to show that he used specific technology, and not just his general experience, to get the first Oculus Rift made.

Tesla Gigafactory to receive $1.6bn Panasonic investment

By: Chris Smith | More News: Business, Financial & Legal | Posted: Jan 20, 2016 3:33 pm

The advancement of lithium-ion batteries doesn't come cheap, with reports stating that Panasonic will be throwing a $1.6 billion investment towards Tesla for its Gigafactory.

 

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The factory is set to cost a total of $5 billion once completed and is currently being built just outside of Reno, Nevada. This investment by Panasonic has been stated as an attempt in order to cement a strong place in the future of vehicle technologies, confirmed by president Kazuhiro Tsuga at CES 2016 in Las Vegas.

 

While the Gigafactory will be working on advancements of batteries for Tesla automobiles, it will also function as a house battery builder, with these products set to store gathered solar energy on private homes and businesses alike.

Trump promises to make Apple build 'damn computers and things' in US

By: Chris Smith | More News: Business, Financial & Legal | Posted: Jan 20, 2016 12:29 pm

In a recent speech, Donald Trump expanded on another way that he's planning to make the US "greater than ever before," telling all that he plans to ensure Apple manufacturers its products on US soil.

 

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"We're going to get Apple to build their damn computers and things in this country instead of in other countries," said Trump, with that being basically all that was mentioned on this topic. In addition to this, Trump explained that he has a similar vision for Ford, stating that "For every car, truck and whatever else you're building, you're going to pay a 35 percent tax every time you bring a car across the border." This tax came about due to Ford investing in Mexican manufacturing plants, rather than focusing on US production.

 

ZDNet reported that Apple's only all-US product is the Mac Pro, while this tech giant does stipulate that 31 of the 50 US states are used to provide Apple with parts, marerials and equipment.

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