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Business, Financial & Legal Posts - Page 259

US Department of Justice Approves Google's ITA Bid

By: Array

In an interesting game of cat and mouse, the United States Department of Justice has approved Silicon Valley's most successful tech company's intent to acquire ITA, a travel information search service based in Cambridge, MA.

 

The DoJ filed a consent decree with the conditions that Google continue to license ITA"s tech to existing clients such as Kayak and maintain the fairness of its current availability. Also in the decree consent were stipulations that Google erect firewalls to ensure that ITA data is blocked from other areas of Google.

 

Interestingly enough, the DoJ has evidently filed a civil antitrust lawsuit to block the impending acquisition of ITA if Google did not consent to the conditions. Google really didn't have a choice, especially with the rampant antitrust allegations running around, as recently reported by Bloomberg.

 

Google was very happy to accept the terms and conditions, and posted the following on their blog today:

 

It's important to us that ITA continue with business as usual, providing great service to its business partners. We indicated last July that we would honor ITA's existing contracts. Today we've formally committed to let ITA's customers..

Continue reading 'US Department of Justice Approves Google's ITA Bid' (full post)

AMD and GlobalFoundaries renegotiate deal for 32nm tech

By: Array

AMD and GlobalFoundaries have renegotiated a silicon supply deal which should see AMD switching to a per-die payment method for any chips produced on GlobalFoundaries new 32nm-based manufacturing process. The renegotiated deal replaces the previous method of payment which was based on a per-wafer deal.

 

TweakTown image news/1/9/19296_667_amd_and_globalfoundaries_renegotiate_deal_for_32nm_tech.jpg

 

In a press statement, AMD said that from now on it's "price for 32nm products will be based on a good die", which implies that AMD was previously seeing too many duff dies per 32nm wafer for its liking and therefore only wants to pay for working chips, which is fair enough.

 

Continue reading 'AMD and GlobalFoundaries renegotiate deal for 32nm tech' (full post)

NBN Co head of construction quits

By: Array

The National Broadband Network Company's (NBN Co's) head of construction Patrick Flannigan has resigned in the middle of the controversy surrounding the company's decision to halt the bidding process for the network construction tender.

 

TweakTown image news/1/9/19282_662_nbn_co_head_of_construction_quits.jpg

 

With the NBN hitting roadblock after roadblock, this is yet another set back for the delayed network. With the company saying:

 

NBN Co is disappointed that Patrick Flannigan, head of construction, has decided to resign. He made a valuable contribution to the leadership team and we wish him all the best in the future.

Continue reading 'NBN Co head of construction quits' (full post)

MySpace Loses 10 Million Users in Four Weeks

By: Array

TweakTown image news/1/9/19212_006_myspace_loses_10_million_users_in_four_weeks.png

 

MySpace has seen better days. And months. And years, for that matter. After eliminating "major redundancies" to the tune of about 500 positions, MySpace's company profile is beginning to resemble more and more their color scheme: black and blue all over.

 

Everyone is pointing the finger at Facebook, the White Whale of social media- and they're all correct. Facebook's success has overshadowed MySpace for the last two years, if not longer. It got to the point where CEO Mike Jones was forced to admit in November of 2010 that MySpace couldn't compete anymore, would be rebranding itself as a social media entertainment destination of sorts. For all of you keeping track, Yahoo pulled a similar maneuver in the past few years when it failed to stack up to Google in Search- they repositioned themselves as an entertainment news site. And furthermore, if anyone reading this is old enough to remember AOL when it didn't own like 23498 blogs, they did pretty much the same thing when their subscription service tanked (you know, when people realized they could just download an internet browser?).

 

Despite the repositioning efforts which netted the implacable MySpace 95 million unique users, its reported that the site went from 73 million to 63 million unique users in a four-week span between January and February.

 

Continue reading 'MySpace Loses 10 Million Users in Four Weeks' (full post)

HP Signs $100 Million Tech Services Agreement With Coca-Cola FEMSA

By: Array

TweakTown image news/1/9/19209_113_hp_signs_100_million_tech_services_agreement_with_coca_cola_femsa.png

 

Despite their recent issues with Oracle, HP has got Latin America locked down when it comes to technical infrastructure. The company announced today that they will continue the relationship that started over a decade ago with the Mexican arm of soft-drink giant Coca-Cola to the tune of $100 million and 5 more years. Hector Calva, Chief Information Officer of Coca-Cola FEMSA commented,

 

After experiencing sustained growth across Latin America, these additional efforts to centralize and standardize will give us the support we need to find new opportunities to put beverages in the hands of the Latin American people.

Something tells me that the Latin American people want more opportunities than just a soda en los manos, but the idealism is almost as refreshing as their iconic beverage. HP is reportedly consolidating 348 different locations to a single data center in Mexico- from a business perspective, that sounds like a lot of people will be out work once the debris settles. Hopefully they've been there long enough to take advantage of their stock opciones.

 

Continue reading 'HP Signs $100 Million Tech Services Agreement With Coca-Cola FEMSA' (full post)

British man jailed for two years after hacking Zynga Poker servers and stealing $11 million worth of virtual currency

By: Array

Five letter word for this man? Idiot. A British man has been sentenced to two years in prison for hacking Zynga Poker servers and stealing $11.4 million worth of virtual currency for Zynga Poker.

 

TweakTown image news/1/9/19176_142_british_man_jailed_for_two_years_after_hacking_zynga_poker_servers_and_stealing_11_million_worth_of_virtual_currency.jpg

 

Ashley Mitchell, from Devon, hacked into the Zynga mainframe and stole the identity of two Zynga employees to transfer millions of dollars of in-game currency to accounts that were in his name. He then sold the chips on the "black market" for cheap chips for the game. After selling roughly one third of the chips, he had made Ā£53,612. Not too shabby and for only a portion of the real "value" of the chips.

 

Continue reading 'British man jailed for two years after hacking Zynga Poker servers and stealing $11 million worth of virtual currency' (full post)

HP Press Release Takes a Stab At Oracle

By: Array

You'd think Oracle would have seen this coming.

 

HP Supports Customers Despite Oracle's Anti-customer Actions

Amid plummeting SPARC server market share, Oracle seeks to force customers to buy their servers

PALO ALTO, Calif., March 23, 2011

HP today reiterated that it will continue the development and innovation of ItaniumĀ®-based Integrity server platforms with its HP-UX operating system using a roadmap that extends more than 10 years.

In addition, HP will continue to support customers running existing versions of Oracle software on Itanium-based Integrity servers, both existing and future platforms, during the same timeframe. Last year, HP launched the industry's most modern mission-critical architecture in more than a decade. This constitutes the longest published roadmap of any UNIX vendor in the industry.

"Oracle continues to show a pattern of anti-customer behavior as they move to shore up their failing Sun server business," said Dave Donatelli, executive vice president and general manager, Enterprise Servers, Storage and Networking, HP. "HP believes in fair and honest competition. Competition is good for customers, innovation and the marketplace. We are shocked that Oracle would put enterprises and governments at risk while costing them hundreds of millions of dollars in lost productivity in a shameless gambit to limit fair competition."

Continue reading 'HP Press Release Takes a Stab At Oracle' (full post)

AMD employees Mike Wolfe as new CIO

By: Array

AMD have announced they've hired Mike Wolfe as AMD's chief information officer. Wolfe brings more than 30 years of engineering and information technology experience as well as being vice president of IT for product development and engineering at HP for the past five years.

 

TweakTown image news/1/9/19161_138_amd_employees_mike_wolfe_as_new_cio.jpg

 

Wolfe will be responsible for managing AMD's global technology infrastructure and will report to Thomas Seifert whom is senior vice president and chief financial officer and interim CEO.

 

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AT&T are set to acquire T-Mobile for $39 billion

By: Array

The swipe of AT&T's ultra-platinum-super-crazy credit card can be heard the world over with news appearing today that AT&T has entered into a definitive agreement to acquire T-Mobile USA from Deutsche Telekom in a cash-and-stock transaction currently valued at approx. $39 billion.

 

TweakTown image news/1/9/19138_130_at_t_are_set_to_acquire_t_mobile_for_39_billion.jpg

 

The agreement has been approved by the Board of Directors of both companies, Deutsche Telekom will receive an equity stake in AT&T that gives it an ownership interest in of approximately 8-percent. The deal also allows a Deutsche Telekom representative to join the AT&T Board of Directors. The deal is meant to be sealed, awaiting regulatory approval within the next 12 months.

 

Continue reading 'AT&T are set to acquire T-Mobile for $39 billion' (full post)

YouTube to hire 30% more staff

By: Array

Google have had a great time with YouTube and have said that 2010 has been a great year for YouTube. The results of this success are leading YouTube to hiring more staff to allow YouTube to grow. The plan is to expand its staff by 30-percent which makes it the largest hiring year in the history of YouTube.

 

 

Right now, YouTube has between 600 and 700 staff, a 30-percent increase would create 200 new jobs. YouTube launched on February 14, 2005 and has enjoyed rocketing success since. YouTube sees 35 hours of video uploaded for every minute that passes and well in excess of 2 billion views per day!

 

Continue reading 'YouTube to hire 30% more staff' (full post)

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