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Business, Financial & Legal Posts - Page 5

Analogix acquired by Chinese consortium for $500 million

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 26, 2016 3:24 am

Analogix Semiconductor have been one of my favorite companies of recent years, getting their exciting technology into a bunch of devices driving them into a totally new direction. Well, they've been acquired by a consortium led by Shanhai Capital for a whopping $500 million.

 

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The $500 million deal is considerable, as it's one of the largest in recent history for the semiconductor industry, where billions of dollars are flowing through the market and into chipmakers. The chips that Analogix make are incredibly important, as they can drive high-res, multi-display and multiple peripherals through a single USB connector with no lag - it's impressive, to say the least.

 

Analogix make makes high-speed, mixed-signal chips for applications used in mobile devices, virtual/augmented reality (VR/AR), and other high-performance electronic products. Customers include Apple, Samsung, LG, Microsoft, Google, Lenovo, Dell, HP, ASUS, and HTC. The majority of the company's engineering resources are in Beijing, reports VentureBeat.

 

 

Kewei Yang, Analogix Semiconductor's Chairman and CEO said in a statement: "We are very happy to have reached this agreement, which provides significant value to our shareholders. The financial support of Shanhai Capital propels our growth while maintaining the direction, organization, and determination to serve our customers. I am especially excited that we all share the same vision of building Analogix into a much broader and more capable global semiconductor leader".

Continue reading 'Analogix acquired by Chinese consortium for $500 million' (full post)

Clinton's deleted emails won't go public before election

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 26, 2016 2:11 am

We are edging closer to finding out the next US president, with Hillary Clinton and Donald Trump set to battle on November 8, but before then we have the first presidential debate tomorrow, September 26.

 

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Well before the presidential debate, it would've been good to read over Hillary Clinton's private email server that was nuked clean of its purported classified emails that would have ended her run for the White House - and that won't be happening. The State Department will be publishing 1,050 pages of the 10,000+ that still haven't been released.

 

Americans want as much transparency as possible, as Engadget reported, and they deserve it - and will not get it, it seems. Judicial Watch and other activist groups are suing the government because of the relaxed nature of the US government in its handing over of the Clinton emails, and are accusing the State Department of creating an "absolutely corrupt process" for publishing data. Ouch.

Continue reading 'Clinton's deleted emails won't go public before election' (full post)

Palmer Luckey spends money on pro-Trump 'meme magic'

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 26, 2016 1:51 am

Oculus founder Palmer Luckey is a funny guy, and it seems like he's up to some epic and probably expensive trolling as he's behind the Reddit pseudonym "NimbleRichMan," and has been funding that claims it has proven that "shitposting is powerful and meme magic is real".

 

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The organization is called Nimble America, which is a pro-Trump organization that spreads anti-Hillary Clinton memes, and calls her a "corrupt, a warmonger, a freedom-stripper". Nimble America says that people will be offended by their Hillary Clinton memes because they hate Trump, because they can't stand to see successful people.

 

Luckey, through his Reddit name NimbleRichMan, said:

 

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People are fuming, and rightly so - Luckey is the young guy who started the renewed interest now worth many tens of billions of dollars in a newly-created VR industry with the Rift... and has funded a company that helped "popularize Trump-themed white supremacists and anti-Semitic memes along with 4Chan and 8Chan".

 

How can Luckey be associated with this, and somehow think it was going to be okay that his company is owned by Facebook, and that there would be no backlash. Did he really think no one would find out? This is the internet.

Google rumored to acquire Twitter, news to break soon

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 24, 2016 12:16 pm

These things always seem to happen close to a weekend, but there are rumors hitting fast and hard that Twitter is fielding acquisition talks with industry giants like Google and Salesforce, as well as others.

 

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CNBC is reporting that Twitter might receive a formal acquisition big "shortly", with Twitter's board likely to sign right away. CBNC adds that there is no actual talk of a sale right now, but sources of the site say that the talks are getting much bigger, and something could happen before the end of the year. Twitter hasn't been having the success they have been aiming for, with Twitter shares plunging over the years.

 

They hit their high in early 2014 at around $69 per share, but hit rock bottom a few months ago at $14, and since the acquisition rumors began, they went up 3.75% to 22.38. Salesforce acquiring Twitter is interesting, as they were reportedly gearing to acquire LinkedIn before Microsoft pulled out its wallet - and Google, well... if they acquired Twitter it would give them a huge superpower against Facebook.

Nashville approves Google Fiber, AT&T expected to sue

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Sep 23, 2016 6:27 pm

The Nashville Metro Council gave its final approval this week to the ordinance that would see Google Fiber installed across the Tennessee, USA town. However, it expects a lawsuit from AT&T is imminent, after the rival ISP threatened as such should the ordinance pass, and after its sued Louisville over the same issue in the neighbouring state of Kentucky.

 

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"Unfortunately, the likelihood of protracted litigation could delay implementation of this law designed to benefit Nashville's consumers," stated Nashville mayor Megan Barry. "That is why I encouraged fiber providers to work together on a solution they could all agree upon, which they were not able to do. My hope now is that any potential legal disputes over this new law can be resolved quickly, and we can move forward with expanding fiber access throughout the city."

 

AT&T said the ordinance -- which allows Google to make necessary wire adjustments on its own -- is "is not a good solution for faster deployment of infrastructure." Meanwhile, Comcast (which has also lobbied against the bid -- said they believe there is "a better solution that is beneficial for all consumers."

Continue reading 'Nashville approves Google Fiber, AT&T expected to sue' (full post)

McLaren denies Apple acquisition

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Sep 21, 2016 7:08 pm

Rumors indicated Apple has been in talks for months to acquire supercar maker McLaren in a bid to accelerate its self-driving electric vehicle developments. However, McLaren, who initially declined comment on the matter, has since denied any such proposition to Reuters.

 

 

The deal -- which was never described a sure thing -- was said to be valued at $1.3 billion or more.

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220 Skype jobs at risk as Microsoft consolidates offices

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Sep 19, 2016 10:19 pm

Microsoft's multiple Skype offices in London are to be no more as the company consolidates them into one while merging engineering roles. In turn, the moves put 220 jobs at risk.

 

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"Microsoft is consolidating offices across London, moving employees to Microsoft's new office at Paddington," the company's statement reads. "As part of this effort, Microsoft reviewed some London-based roles and made the decision to unify some engineering positions, potentially putting a number of globally focused Skype and Yammer roles at risk."

 

"We are deeply committed to doing everything we can to help those affected through this process. Microsoft will be entering into a consultation process and [it will] offer opportunities where possible."

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AMD-based Lenovo systems donated to students in Jamaica

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 17, 2016 9:27 am

It's not everyday that companies like AMD and Lenovo donate a bunch of laptops, so when the news that they donated some AMD-based Lenovo ThinkPad E-series notebooks to The Jamaica Positive Foundation - but it was when I discovered it all happened thanks to a simple Facebook post.

 

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Jamaica Prime Minister Andrew Holness posted on Facebook, where he donated a notebook to a student in his constituency. Lenovo GAM VP David Bennett followed Holness on Facebook, and together with his Jamaican heritage, noticed that the Lenovo laptop Holness was giving away in Jamaica was an AMD-powered one.

 

AMD and Lenovo were then in contact with the Jamaican PM, who agreed to talk with the companies and over a courtesy call, PM Holness gave his gratitude for the donation saying that there was a digital divide in the country, so the notebooks would make some rather large differences in students lives.

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Religion in US worth more than Google, Apple combined

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 17, 2016 2:39 am

We all know religion is big business, but did you know that the mostly tax-free religion industry in the US is an absolute profit monster? According to the latest numbers, there are around $1.2 trillion (yes, that's trillion with a 't') in religious "healthcare facilities, schools, daycare and charities; media; businesses with faith backgrounds; the kosher and halal food markets; social and philanthropic programmes; and staff and overheads for congregations".

 

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The report comes from The Socio-economic Contribution of Religion to American Society: An Empirical Analysis, co-authored by Georgetown's Brian J Grim and Newseum's Melissa E Grim, and published in the Interdisciplinary Journal of Research on Religion. The authors say that the $1.2 trillion estimate is "conservative", noting that religion as a whole has been declining in the US, and that spending on religious "social programs" has tripled since 2001, to a huge $9 trillion.

 

The report notes: "Grim and his co-author Melissa Grim of the Newseum Institute in Washington came up with three estimates of the worth of US religion. The lowest, at $378bn, took into account only the revenues of faith-based organisations. The middle estimate, $1.2tn, included an estimate of the market value of goods and services provided by religious organisations and the contributions of businesses with religious roots".

 

"The top estimate was based on the household incomes of religiously affiliated Americans, and placed the value of faith to US society at $4.8tn annually", the report added, continuing: "The analysis did not take account of the value of financial or physical assets held by religious groups. Neither did it account for "the negative impacts that occur in some religious communities, including... such things as the abuse of children by some clergy, cases of fraud, and the possibility of being recruitment sites for violent extremism".

Continue reading 'Religion in US worth more than Google, Apple combined' (full post)

Tesla suing oil executive for impersonating Elon Musk

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Sep 15, 2016 11:03 pm

Tesla Motors is suing an oil company executive said to have impersonated its CEO Elon Musk in order to obtain financial information on the company.

 

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The lawsuit names Todd Katz, CFO for Quest Integrity Group, and claims he used a similar email address to Musk's (elontesla@yahoo.com) to achieve his goal. Quest is partnered with BP, Chevron, and ExxonMobil, among other notable companies.

 

"The point of this action is that this was perceived as an effort to gain inside information, non-public information," said LA attorney John Hueston, representing the car maker. "Although it was caught here, Tesla is worried about this happening in some other form. This could have resulted in highly valuable information being improperly disclosed."

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