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Volkswagen says it will fix the test-cheating vehicles it has sold

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 2 days ago

Volkswagen continues to dig a bigger grave for itself, but the company is getting its hands dirty trying to crawl out of it. The company's fresh CEO, Matthias Mueller, has told his employees that the company will be contacting customers in the coming days to fixing their diesel-powered cars.




We don't know how the company will do that, whether it's going to be something mechanical or whether it will be a software-based patch. Regulators are going to be busy with Volkswagen when it happens, to make sure that the solution is absolutely 100%. Volkswagen is ready to spend $7.3 billion cleaning up the massive problem, but things are just continuing to get worse, with the likes of BMW and Mercedes now caught up in it.

AMD considering other strategic options after failed investment deal

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 2 days ago

Earlier this month we reported that AMD had split its GPU division off into Radeon Technolgoies Group, while the larger chunk of the company was hoping to sell a 20% stake in itself to investment firm Silver Lake.




Well, that deal has fallen through according to Bloomberg, which reports: "Advanced Micro Devices Inc., a struggling competitor to Intel Corp., was in talks to sell about a 25 percent stake to private-equity firm Silver Lake Management before the negotiations stalled, people with knowledge of the matter said".


Bloomberg added: "The two sides, which met over the summer, have put the discussions on hold after failing to agree on a price and strategy, said one of the people, who asked not to be identified because the information is private. AMD is also considering other strategic options, another person said".

Kanye West is scared that 3D printers will ruin the shoe industry

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 2 days ago

Kayne West has a lot to say, and while the rapper and husband of Kim Kardashian will be running for US president in 2020, Kanye has come out slamming 3D printers.




In the latest episode of Keeping up with the Kardashians, Kanye said: "This is what I'm afraid of right here, 3D printing. Because the Internet destroyed the music industry and now this is what we're afraid of right now with the textile industry. There will come a time where people are making the shoes at home".


Kayne visited the Tumo Center for Creative Technologies in Armenia in the latest episode, which is where the quote came from, as well as Kanye adding that he "likes robots", but he doesn't like all robots. If Kayne is elected president, you can be sure 3D printers will most likely be banned under a new Executive Order.

Latest Mercedes and BMW cars using 50% more fuel than lab results

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 2 days ago

Volkswagen is at the heart of the biggest car fraud story ever, but the likes of Mercedes and BMW will soon be involved. According to the latest on-the-road results from Transport & Environment (T&E), some Mercedes A, C, and E class cars as well as BMW's latest 5 series and Peugeot 308 cars are using up to 50% more fuel than their lab test results.




The problems that this is creating, is that the official numbers given by Volkswagen, Mercedes and BMW are different to the real-world performance numbers and this gap is becoming so wide that "it cannot be explained through known factors including test manipulations", reports Things have gotten worse in the last 15 years or so, where the official test results for CO2 emissions/fuel economy and real-world performance have increased from 8% in 2001 to a huge 40% on average for 2014.


The numbers are coming from T&E's 2015 Mind the Gap report, which takes a look at on-the-road fuel consumption by motorists and highlights what Volkswagen, Mercedes and BMW have been doing for years. These carmakers have been abusing the system, with EU regulators not closing the various loopholes that allow this to happen. T&E has added that without action, the gap will grow from 40% from 2014, to over 50% on average by 2020.

Continue reading 'Latest Mercedes and BMW cars using 50% more fuel than lab results' (full post)

Qualcomm is investing up to $150 million in Indian startups

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 3 days ago

Qualcomm has just planted its seed in India, with a new venture fund of up to $150 million being spent on Indian startups. The announcement from Qualcomm is in good timing, with Indian Prime Minister Narendra Modi visiting Silicon Valley recently.




Modi wants to grow India into technology hub, with plenty of mobile resources to help the country grow. Qualcomm on the other hand wants to move into the Indian market more, with the Chinese market beginning to slow down as it gets slammed by regulators. Qualcomm Executive Chairman Paul Jacobs met the Indian PM at the Digital Economy event in San Jose recently, saying that the $150 million venture fund was in support of the Indian government's Digital India and Make-in-India initiatives.


Jacobs added that Qualcomm shared Modi's vision of transforming India into a "digital empowered society and knowledge economy", reports Fudzilla. Jacobs said: "India is at the cusp of a technology revolution and mobile technologies will lay the foundation for Digital India. We are committed to providing local innovative start-ups with the support needed to help India's IOE ecosystem grow, increasing consumer choice and availability".

Audi confirms 2.1 million cars use emission cheating software

By: Derek Strickland | More News: Business, Financial & Legal | Posted: 1 week, 4 days ago

The barrage of legal woes against Volkswagen continues as the auto company confirmed that approximately 2.1 million Audi vehicles across the globe are equipped with software that's specifically designed to cheat diesel emission tests. The auto titan was reportedly told some four years ago that the software posed a significant legal concern and would one day jeopardize the entire company, but VW ignored the warnings.




The software was specifically designed to recognize when emission tests were being conducted, then obfuscate actual diesel emissions by shifting into a low-emissions mode. Volkswagen clarified that over 1.42 million Audi vehicles in Western Europe had the software, with 13,000 cars in the United States and 577,000 in VW's native homeland of Germany.


The "Dieselgate" scandal has taken a serious toll on Volkswagen; shortly after the scandal broke VW shares fell by 30%, and the company has since suspended its heads of research and development. VW CEO Martin Winterkorn jumped ship after the guitly admission, and Porsche exec Matthias Mueller stepped in as acting CEO to take control over the company as it faces turbulent waters ahead.

Continue reading 'Audi confirms 2.1 million cars use emission cheating software' (full post)

Ad-blocking apps accepting payments to let ads through their filters

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week, 4 days ago

We all know advertising makes the world go round, but there are some people who pay to opt out of seeing ads, but what use is paying that bill every month if ad-blocking companies are allowing them to hit you anyway, all while making money out of it.




The Wall Street Journal has reported that ad-blocking companies are taking in payments from specific publishers that would see ad-free subscribers receiving ads anyway. The WSJ reports: "Eyeo GmbH, the company behind popular desktop ad-blocking tool Adblock Plus, now accepts payment from around 70 companies in exchange for letting their ads through its filter. Eyeo stipulates that they must comply with its "acceptable ads" policy, meaning their ads aren't too disruptive or intrusive to users. In total, ads from some 700 companies meet the acceptable ads policy".


Better yet, is that Eyeo has been contacting other ad-blocking developers to make deals that would see their ads pushed through their filters to more paying ad-blocking customers, for a fee of course. Eyeo reportedly "seeks payment from any firm that generates more than 10 million unblocked ad impressions a month". The WSJ reports that Eyeo's cost is associated revenue that their clients make from the ads that they allow through their filters.

Continue reading 'Ad-blocking apps accepting payments to let ads through their filters' (full post)

Samsung announces its new $300 million HQ in Silicon Valley

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 25, 2015 1:33 am

Samsung has just opened the doors to its new US offices, giving the South Korean giant a very big presence in Silicon Valley. The new $300 million offices are located north of downtown San Jose.




Corporate Vice President of Memory Marketing at Samsung, Jim Elliott, explains: "We really want to leverage the [new site] as the foundation for our presence in Silicon Valley". The new campus will house Samsung's research and development, as well as its sales operations for it's US semiconductor business. Its customers? Apple, NVIDIA, and more.




The new 10-story Samsung Device Solutions America HQ was designed by global architecture firm NBBJ, which designed the 1.1 million-square-foot campus. The facilities includes a 10-story office tower, seven-story parking garage, and a green space that links the campus together. Samsung said on a website about its new campus: "The design seeks to encourage interaction among staff, foster connections with the community and provide a space to attract employees in the highly competitive tech market".

Verizon Wireless sends out a $2.1 million bill, should've been $120

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 24, 2015 5:04 am

If you've ever received a bill with the wrong 'amount owing' amount, you will never again complain after reading this story. One couple received a $2.1 million bill from Verizon Wireless, after Ken Slusher from Damascus, Oregon received his bill for $2,156,593.64. Slusher said: "Yeah, it's been very stressful to say the least".




While FOX 12 was with him, Slusher called Verizon Wireless' automated phone line to check his account balance, where a voice recording said "Your total amount due is $2,156,593.64". Slusher and his girlfriend opened the Verizon account last November, where they purchased two smartphones. The couple only kept the service going for one month after they kept getting incorrect bills.


Slusher added that their first bill should've been $120, where instead he received a bill of $698 plus a previous balance of $451. The next statement? Just $9. Slusher continued: "The number of errors and the comedy of which they happened is astounding to me". In January, the couple returned the smartphones they had, and thought it was all over and done with. That is, until they received notices from multiple collection agencies demanding up to $2000 each.

Continue reading 'Verizon Wireless sends out a $2.1 million bill, should've been $120' (full post)

CEO raises AIDS medication price by 4100% overnight

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 22, 2015 9:35 am

Turing Pharmaceuticals is in the headlines today for all the wrong reasons, increasing the price of their HIV/AIDS medication from $13.50 per pill to $750 per pill, overnight - an increase of an insane 4100%.




Daraprim, the medication in question, has been on the market for 62 years now, and is the "standard of care for food-borne illness called toxoplasmosis caused by a parasite that can severely affect those with compromised immune systems. Turing purchased the rights to the drug last month and almost immediately raised prices", reports The Washington Post.


The story gets worse, with consumers taking to Reddit to boycott the company's products, saying that they want new laws that would prevent this price gouging from happening in the future. The editor daily newsletter on the industry, John Carroll of Fierce Biotech, asked Turing's CEO, Martin Shkreli about the huge price increase. Things took to Twitter, where Carroll asked: "Let's see if we can get a statement from @MartinShkreli. Martin, your co. just hiked the price of an old drug - new to you - by 5000%. Why?". The response from Shkreli was explosive, where he straight up said: "You are such a moron".

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