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Business, Financial & Legal Posts - Page 6

French court rules Google, Bing don't have to censor torrent searches

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Jul 20, 2016 5:11 pm

The High Court of Paris has ruled Google and Bing are not required to filter torrent-related searches within their respective engines. The request to implement such functionality as well as block websites with the word torrent in their name was put forth by local music industry organization Syndicat national de l'édition phonographique (SNEP).




SNEP's argument -- based upon its country's intellectual property code which states "all appropriate measures" are allowed in preventing copyright infringement -- was that torrent searches linked largely to illegal content. It's not an outrageous argument to make as pirate websites have disappeared before under the aforementioned code. In this case, however the court decided such measures were not appropriate, thanks in part to Microsoft's argument that such a filtering system would be , as TorrentFreak describes it, "imprecise, disproportionate and inefficient" (thus punishing legal websites).

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Pokemon GO helps Nintendo become worth more than Sony

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 20, 2016 1:38 pm

We all know just impossibly huge Pokemon GO has been, but with Nintendo struggling against Microsoft and Sony in the console war, Pokemon GO has helped Nintendo surpass Sony in the stock market.




Nintendo is now worth more than Sony, and that is thanks to Pokemon GO. Don't believe me? Look at the chart above, and you'll see the insane spike in Nintendo's market cap since Pokemon GO launched earlier this month. Nintendo's stock has increased by close to $20 billion, a near 100% increase from what it was before Pokemon GO launched.


The numbers are absolutely off the charts, and I'm sure Nintendo is celebrating like crazy right now. It could probably give everyone who plays Pokemon GO a free next-gen Nintendo NX console when it launches and not even feel the pinch on their credit card, and it's all thanks to Pokemon GO - which is a free game. Insanity.

Netflix is home to 83 million subscribers, growth is slowing though

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 20, 2016 2:40 am

Netflix is currently home to 83 million subscribers, adding only 160,000 subscribers in the US and 1.52 million across the world since April.




The company has said that the slow growth is a result of the increase in churn, which could be due to the fact that they ended grandfathered plans for loyal Netflix subscribers. Back in April, Netflix predicted it would have 2 million more international subscribers, and 500,000 in the US - but it has missed that by quite a lot.


Netflix pulled in $2.11 billion in revenue over the quarter, which is what analysts expected from the streaming giant. Investors now want to feel safe with their investments into Netflix, where they want to see continued growth - especially in a world with that changes so quickly. Netflix has some massive shows on its roster like House of Cards and Orange is the New Black, but the new Star Trek deal could become quite a big one in the years to come, too.

Uber has over 2 billion rides, with 1 billion in the last 6 months

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 19, 2016 7:32 am

Uber has hit a new milestone, with over 2 billion rides through its app - which is pretty crazy considering the ride-sharing giant had 1 billion rides just 6 months ago now.




The company added $4.7 billion to its war chest a few weeks ago, reports Reuters, with the 2 billionth ride milestone reached on June 18. It took Uber around 6 years to hit the first 1 billion rides, but only 6 months to rack up another 1 billion rides.


Uber has been spending money on recruiting drivers and passengers, thanks to the huge $13 billion in funding it received from investors. Uber boss Travis Kalanick said that there were 147 simultaneous Uber rides at the exact same second in 16 countries on June 18, all tying for the 2 billionth trip. Uber is bleeding $1 billion per year in order to compete against its rivals, but the company operates in 450 cities across the world right now.


Right now, Uber is valued at $62.5 billion - after it received a $1.15 billion leveraged loan that allows the company to enjoy the low interest rate, while keeping its venture capital backers happy that it's not diluting their equity.

Opera selling browser business to Chinese buyers for $600 million

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Jul 18, 2016 8:35 pm

Following a failed $1.2 billion takeover of Opera Software by a group of Chinese internet firms, the company has decided to instead attempt to sell off parts of its business to get around US government concerns over privacy.




The new deal -- which is still pending approvals from authorities -- proposes $600 million for its browser business, performance and privacy apps division, technology licensing business, and its investment in Chinese joint venture nHorizon, which the group in question (Kunqi) has agreed to.


Opera will retain its advertising and marketing business, TV operations, and game-related apps.

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Seagate to slash over 8000 jobs in the next 12 months

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 14, 2016 11:47 am

Seagate is the latest company to announce massive layoffs, with the HDD giant set to slash another 6500 jobs across its workforce in the US, Asia and EMEA regions.




The new culling over at Seagate represents around 14% of its global workforce, which will join the 1600 people being let go as part of its restructuring plans announced last month. Seagate is set to save around $164 million from the layoffs, but it's also expected to lower its expenditures going into the future.


Seagate has also recently said it will be reducing its manufacturing capabilities, from around 55-60 million HDDs per quarter, to just 35-40 million per quarter. The company hasn't said how it will be reducing its manufacturing capabilities in detail, so we should expect to hear more news on that front in the near future.

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Sharing your Netflix password is now a crime

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Jul 11, 2016 5:32 pm

Sharing one's Netflix password with a family member or friend is a somewhat common practice, but a new ruling by the United States Court of Appeals for the Ninth Circuit has rendered it a prosecutable crime under the Computer Fraud and Abuse Act (CFAA). The ruling pertained to large, serious crimes that threaten security and privacy of company data, but has residual effects on common users, potentially including those who share passwords of any kind.




Ninth Circuit judge Stephen Reinhardt opposed the ruling, saying it could turn thousands into "unwitting federal criminals" and that it "loses sight of the anti-hacking purpose of the CFAA, and... threatens to criminalise all sorts of innocuous conduct engaged in daily by ordinary citizens."

Nintendo stock increases 23% riding the insane success of Pokemon GO

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 11, 2016 6:33 am

Pokemon GO is really blowing up all over the world, with Nintendo stock enjoying a sharp rise of 23% in the last few days.




Nintendo's stock hasn't performed this well since August 2015, and while it isn't as strong as it was back when the Japanese gaming giant launched the Wii, Nintendo stock is up 36.3% since Pokemon GO launched not even a week ago.




The daily active users (DAU) playing Pokemon GO is incredible, and by incredible - we mean it's at the levels of the DAU of Twitter. Yeah, you know - the world's second largest social network. Pokemon GO is now rivaling Twitter for daily active users. These numbers are freakin' amazing.

Bitcoin's new anti-inflation code means twice the work, same profits

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 10, 2016 12:28 pm

Bitcoin mining just got harder, with Reuters reporting that the digital currency system now has new anti-inflation code, which makes mining Bitcoins twice as long.




Previously, the reward for Bitcoin mining would be 25 bitcoins ($16,000 or so) being mined every 10 minutes, but that now takes 12.5 minutes. The measure automatically starts every four years in an attempt to stop inflation that many miners are worried about, especially with quicker and quicker computers mining Bitcoins, outpacing desktop PCs.


Dedicated miners are going to be pissed, as they'll need to work twice as hard to get the same money from bitcoins, and then the hardcore/professional bitcoin miners might to rethink their entire business.

E-tailer Kogan shares fall in volatile market debut

By: Ben Gourlay | More News: Business, Financial & Legal | Posted: Jul 7, 2016 6:24 am

Australian online retailer Kogan has floated on the Australian share market today and quickly slumped in a volatile debut.




According to ABC, Kogan shares dropped well below their initial offer price of $1.80, down nearly 12% to a low of $1.495 a few hours after trading begun. The cash injection from the float will be used to invest in new products and product lines. The company forecasts sales of $241 million this year and earnings of $6.9 million.