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Business, Financial & Legal Posts - Page 5

Tesla to raise $1 billion, will fund Model 3 launch

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Mar 16, 2017 4:54 am

Tesla Motors is looking to raise just over $1 billion, something the electric car maker will do soon as it ramps up towards the launch of its upcoming Model 3 electric vehicle - its new car priced at around $35,000.




The upcoming $1 billion injection will come from $250 million in secondary stock offerings, with another $750 million in convertible senior notes (as The Verge points out, it's "basically a loan"). There'll also be options for the underwriters to secure another 15% for each offering, while Tesla CEO and real life Tony Stark, Elon Musk, will buy $25 million in Tesla common stock as part of the deal.


Tesla will launch its new Model 3 electric car in 2018, starting from $35,000.

Turkish businessman in exile buys Vertu for $61 million

By: Lana Jelic | More News: Business, Financial & Legal | Posted: Mar 13, 2017 7:55 pm

Vertu, a manufacturer, and retailer of luxury phones was established back in 1998 by Nokia. However, the company has changed hands a couple of times by now.




First, the company was sold to EQT VI in 2012, and their most recent owner, a Hong Kong-based holding company Godin Holdings, bought the company in 2015.


Now, Vertu once again has a new owner - a Turkish businessman Hakan Uzan, who is currently in exile. Uzan reportedly bought Vertu for $61 million.

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Toshiba's 2016: fastest growing storage device vendor

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Mar 7, 2017 2:00 pm

Toshiba has had a great year in the storage world throughout 2016, with the company becoming the fastest growing vendor in the world with $25 billion in HDD sales, and $17 billion in SSD sales.




In two IDC reports, they state: "Toshiba's broad HDD and SSD portfolio enabled them to participate in nearly all market segments for storage devices, a key factor that helped to underpin Toshiba's strong year-over-year revenue growth in CY2016. With successful launches of new HDD and SSD products over the next few quarters to address demand from cloud service providers and the traditional IT market, Toshiba should be well positioned to sustain further HDD and SSD revenue growth in 2017".


Toshiba's hard work in the HDD market saw 9% increase in unit market share in Q4 2016, with Toshiba now taking a large 24% stake in the market - a 60% increase over Q2 2015, where they had just 15%. Interestingly, Toshiba was the only HDD maker that saw total revenue increase in 2016, and increase in revenue share in every product segment: mobile, desktop, performance-optimized enterprise, and capacity-optimized enterprise for the year.

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Apple new headquarters is ready for April's opening

By: Lana Jelic | More News: Business, Financial & Legal | Posted: Feb 23, 2017 1:28 pm

Apple has announced the name of their new spaceship-looking headquarters - Apple Park. The 175-acre campus will be ready for employees to begin occupying in April.




Over the next six months until the official opening, more than 12,000 people will move into the futuristic structure.


To honor the memory of Steve Jobs, Apple decided to name the theater at Apple Park 'Steve Jobs Theater.'


Apple Park will also include a visitors center with an Apple Store and a cafe open to the public.

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Amazon will deliver packages with drones, and parachutes

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Feb 15, 2017 8:06 am

Amazon already has me excited about the future of deliveries with drones, and even freakin' warehouses floating in the sky - but now the company has filed a patent for drone deliveries, with package parachutes.




CNN reports that the US Patent and Trademark office provided Amazon with a patent that sees the everything giant delivering packages with drones and parachutes. The patent shows Amazon would use drones to delivery packages "at altitude" and "monitor and adjust package trajectory during descent". CNN reports that Amazon's drones could "radio a message to an off-course package, instructing it to deploy a parachute, compressed air canister or landing flap".


At the moment drones still need human supervision, but in a future of 'automate all the things', Amazon could be a leader in drone/automated delivery very, very quickly.

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Husband cheats on wife, sues Uber for $48 million

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Feb 13, 2017 5:29 am

A bit of a light hearted story - well, at least in a way - as a man is suing Uber for causing his divorce. Yeah, you read that right.




The French businessman is suing the ridesharing giant for a huge $48 million, after a notification bug with the Uber app let his wife spy on his whereabouts. The man used his wife's smartphone to order Ubers, and then signed out of the app - but, the notifications continued rolling in, after he thought he had signed out.


His wife would've have learned about the affairs from the Uber notifications, with all of his orders, drive names, license plate, and arrival times. His real-time location wouldn't have been tracked, but if he said he'd be working late at the office or catching up with friends for a drink, his wife would know he's lying from his Uber notifications.


An Uber spokesperson told French news site Le Figaro: "Uber doesn't comment publicly on individual cases, and especially on cases that involve a divorcing couple".

NVIDIA quarterly revenue skyrockets by 50%

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Feb 10, 2017 2:54 am

NVIDIA is riding yet another record-breaking quarter, reporting a massive 50% in quarterly revenue for the second quarter in a row, beating analysts expectations yet again.




NVIDIA continues to see strong demand for its GPUs and is seeing massive growth in areas like self-driving car technology, and AI. NVIDIA posted $1.9 billion in revenues, with $1.88 billion expected by analysts. NVIDIA's graphics business continues to grow, with $1.85 billion in revenue - an increase of 57%.


Analysts expected NVIDIA to hit $2.11 billion of revenue for the three-month period, but the company beat those expectations by hitting $2.17 billion - up from $1.4 billion last quarter.

Vizio sold TV viewing habits without permission

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Feb 7, 2017 9:33 am

Vizio has been tracking, selling your TV viewing habits - in something that we've found out from a settlement with the FTC and the New Jersey Attorney General, costing Vizio a swift $2.2 million.




The $2.2 million settlement will settle the state and federal charges placed against Vizio, as the company were busted installing software on 11 million smart TVs to track viewing histories, all without consumer knowledge. Vizio is being order ed to delete any user data that was scooped up before March 1, 2016.


Vizio was busted working with a third-party company to build its smart TVs that were capable of capturing "second-by-second" viewing information about what's being displayed on the screen. This information captured includes what was on your cable, internet, set-top boxes, DVD players, over-the-air broadcasts, and other streaming devices.


FTC senior attorney Lesley Fair says that Vizio have been tracking users on their smart TVs since 2014, with Fair adding that Vizio were selling the viewing data to advertisers. This data included IP addresses that could be matched to the owner, and household.


Furthermore, third parties could use the information to secure personal data such as sex, age, income, marital status, household size, education, and home ownership. But don't worry, Vizio didn't allow the companies it was working with to identify users by name, but it did allow those third parties to track user habits across devices", reports Engadget.

DRM giant forgets to secure server, log files leaked

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Feb 7, 2017 6:48 am

Denuvo has been in the headlines lately with the DRM-maker being a part of some of the biggest games of the last 12 months, and now the company is faking something very different - with a massive chunk of private web-form messages being leaked.




The first messages appeared on 4chan, with the messages including contact between game developers and Denuvo. The 11MB file has messages from Denuvo's public contact form, with messages from all the way back to April 25, 2014 - furthermore, it seems like their web database content is totally unsecured, with root directors for "fileadmin" and "logs" opened at the time of writing.


There are also messages from game developers like 343 Industries asking Denuvo about applying their DRM tech to Halo Wars games on the PC, Harmonix Games asked about an in-person meeting during GDC this year, and Capcom asked for a few things, too. Other developers including Ninja Theory and TaleWords also saw their private messages with Denuvo opened to the world.

Minecraft used to pitch Gigafactory facility to Tesla

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Feb 7, 2017 5:00 am

Minecraft has been used in a way that I didn't expect, with Lithuania using the game to pitch Tesla on their new Gigafactory facility.



The Northern European country wants to be the home of Gigafactory 2 facility, with the video above showing a cinematic time lapse of the facility's construction, while the country provides some details on why Lithuania is a great destination.


Tesla loved it, tweeting the video out a couple of days ago.

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