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Business, Financial & Legal Posts - Page 276

Cupertino City Council reveals more details on Apple's "Spaceship" Campus construction

By: Array

It was back in early June that Steve Jobs revealed what his plans were for the large piece of land Apple purchased from Hewlett Packard, located in its home district of Cupertino. At that point we were just given a brief rundown on what was on the cards; a large campus designed like none other, resembling a large, spaceship/UFO like object that has landed when looking from above.


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Fast forward a couple months and the Cupertino City Council has just made more details available about the "Spaceship" Campus. Here are some measurements and inclusions to paint a bit of a picture on things :-


• An Office, Research and Development Building comprising approximately 2.8 million square feet;

• A 1,000 seat Corporate Auditorium;

• A Corporate Fitness Center;

• Research Facilities comprising approximately 300,000 square feet;

• A Central Plant; and

• Associated Parking.

Continue reading 'Cupertino City Council reveals more details on Apple's "Spaceship" Campus construction' (full post)

NVIDIA 'grew solidly' last quarter, flexes green muscles once again

By: Array

NVIDIA have published their earnings for their latest fiscal quarter (ending July 31) and have done a glorious job amongst all the rubble that is the stock market right now. With a revenue of $1.017 billion and an income of $151.6 million, that gives them a gross margin for Q2 2011 of 51.7-percent. Compared to last year in the same time where they saw a $141 million net loss.


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NVIDIA CEO, Jen-Hsun Huang says that the revenue growth is from "consumer demand for notebooks powered by our GeForce GPU, with its unique Optimus technology" - surprisingly, not the Tegra 2 processors that seem to be powering virtually every iPad competitor. NVIDIA expects revenue for the ongoing quarter to be up 4 to 6-percent from the previous quarter.

Dylan Ratigan goes off, accuses Congress and the President of being corrupt, entire MSNBC studio stops and listens

By: Array

This is not something that you'd find on the front page of a tech site, but while I'm employed to write news for TweakTown, I'll post in my own image. This story covers hundreds of millions of people and further more, the entire financial system of the Western World and beyond. The current financial crisis is not something that "just happened", it is something that has happened over decades and is something that is not being fixed.



It is not something that they should be surprised of and there needs to be huge, systematic changes in the entire US government, Congress, Banking, Law, and virtually everything in-between before we see a true change. Dylan Ratigan of "The Dylan Ratigan Show" really drives his point home and I found myself getting goosebumps and nearly tearing up at just how... I don't even know how to word it, how, genuine and patriotic he seemed.

Continue reading 'Dylan Ratigan goes off, accuses Congress and the President of being corrupt, entire MSNBC studio stops and listens' (full post)

Nintendo president, Satora Iwata, takes 50% pay cut

By: Array

Nintendo have been having a hard time with their Nintendo 3DS portable gaming console, it hasn't been selling well and is not seeing the sales they were expecting. Last week they dropped the price of the 3DS to drive more sales and the latest news on top of all of this is that Nintendo employees will also face some form of salary reduction.


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It's not just employees either, Satora Iwata, Nintendo's President will be accepting the same punishment as staff with his salary being reduced from £1.2 million to £600,000 a year. Other chiefs will take a 30-percent reduction to reduce overall costs. He said:


For cuts in fixed salaries, I'm taking a fifty percent cut, other representative directors are taking a 30 percent cut, and other execs are taking a 20 percent cut.

Apple to use some cash reserves finally and buy Hulu?

By: Array

Reports are out saying that Apple are considering the purchase of popular online video service Hulu, according to "two people who weren't authorized to speak publicly." The two sources spoke with Bloomberg, calling the negotiations "early talks that may lead to an offer for Hulu."


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The acquisition of Hulu has been spinning around for days now, with a reported bidding war for the online video company. Hulu is said to be shopping itself around for potential acquirers after deciding not to go through with a $2 billion IPO. To sweeten the deal, there's a promise of five years of programming for Hulu's highest bidder, included is two years of exclusivity for the programming on Hulu, this includes programmes from Walt Disney Company, News Corp. and Comcast's NBC Universal.

Microsoft reports record fourth-quarter and full-year results

By: Array

Another huge tech company has posted record profits and this time it's Microsoft. Microsoft have just announced a record fourth-quarter revenue of $17.37 billion for the quarter ended June 30, 2011 and 8-percent increase from the same period of the prior year. Operating income, net income and diluted earnings per share for the quarter were $6.17 billion, $5.87 billion and $0.69 per share, which represents increase of 4, 30 and 35-percent respectively when compared with the prior year period.


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For the fiscal year ended June 30, 2011, Microsoft reported record revenue of $69.94 billion, a 12-percent increase from last year. Operating income, net income and diluted earnings per share for the year were $27.16 billion, $23.15 billion and $2.69, which represented 13, 23 and 28-percent increases when compared to last year.

Continue reading 'Microsoft reports record fourth-quarter and full-year results' (full post)

Fake Apple Store found in China, yes, an entire FAKE STORE

By: Array

They seriously can't be doing this for the LOLs, but a 27-year-old blogger "BirdAbroad" has posted on his blog about an Apple Store he found in China. It looks liked an Apple store, the winding staircase with a sitting area upstairs, employees wearing the blue t-shirts with the clunky Apple name tag around their necks. But this Apple store in Kunming is actually a complete rip-off. As BirdAbroad says "China warps your mind into believing anything is possible". He says that it is the best rip off store they've ever seen, but some things were out of place. The stairs were poorly made, walls were not painted properly.


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Even the sign itself, Apple never displays "Apple Store" on its signs, it just displays the gloriously delicious looking fruit symbol. The name tags on the staff did not actually list a name, just "staff" and an Apple logo. The funniest thing about this all is the employees actually think they're working directly for Apple. As the blogger took photos, multiple salespeople and security guys (plain clothed) outside came in and told him to stop. It was not allowed. Why wasn't it allowed? Their boss told them so. He did tell them that he was an American Apple employee visiting China checking out the local stores, this was the golden ticket.

Continue reading 'Fake Apple Store found in China, yes, an entire FAKE STORE' (full post)

Intel reports fifth consecutive quarter of record revenue, peers at Apple

By: Array

The latest... intel is in, and it shows that Intel has had all business segments report double-digit revenue growth year-over-year. Intel had Non-GAAP results of, $13.1 billion in revenue which is up $2.3 billion, 22-percent year-over-year. Operating income saw a 6-percent year-over-year increase adding $221 million, bringing it up to $4.2 billion. Net income was $3.2 billion, up $290 million or 10-percent year-over-year.


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The acquisition of McAfee Inc and Infineon Wireless Solutions (now Intel Mobile Communications) contributed revenue of $1.0 billion in their first full-quarter of results. Gross margin say at 61-percent, consistant with Intel's expectations. R&D and MG&A spending was $3.9 billion, again, within Intel's expectations. Intel's tax rate was 25-percent, below their expectations of 29-percent. Intel also used $2.0 billion to repurchase 93 million shares of common stock.


For more in-depth details of Intel's quarterly results, take a look at them here.

Cisco to lay off up to 10,000 employees

By: Array

Looking to tighten things up for fiscal 2012, networking mob Cisco is apparently closing in on a decision to lay off up to 10,000 of its employees; about 14% of its total workforce. Cisco feels this will allow them to cut down on unnecessary expenses while boosting productivity and of course, profit$.


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The need to lower its expenses comes after experiencing a notable loss in performance in several markets, also losing ground to competitors Juniper Networks and HP. Its consumer product units (Linksys) will potentially be the most affected by these layoffs.


The costs incurred in the fiscal fourth quarter with their workforce reconfiguration are said to be between $500 million and $1.1b, with up to 7000 pink slips sent out by the end of August and an additional 3000 offered early retirement packages.

Foxconn parent company spending $1.6b on Apple reseller stores in China

By: Array

Word has begun circulating today that Hon Hai Precision Industry, which is the parent company of Foxconn, has made the decision to spend up super big on helping make Apple's products more popular in China and with easier after sales support than currently.


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No less than $1.6b is being used to set up 500 Apple Authorized Reseller stores throughout China via Hon Hai's major Chinese electronic chain, Cybermart International thanks to a recently obtained certification as an Apple reseller.


Given Apple's own prescence in China with regard to its Apple stores isn't all that plentiful (though that is said to improve throughout 2011 with twenty more official Apple Stores planned), these additional Cybermart Apple reseller stores should certainly help Apple in establishing itself as a far more recognized and popular entity in the country.


The first Cybermart Apple store has been marked on the map, opening in Tianjin in Northern China with a population of over 12 million people.

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