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Business, Financial & Legal Posts - Page 7

eSports giant Azubu raises $60 million in new funding

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 10, 2015 7:32 am

eSports giant Azubu has just secured another $60 million in a new round of funding, with their viewership increasing by 1200% in the last 12 months alone.

 

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The new funding was led by London-based Sapinda Group, with a contribution also coming in from Sallfort Privatbank of Switzerland. Azubu will use the money to expand into new global territories, as well as grow its next-gen platform, Azubu 3.0. Azubu CEO Ian Sharpe said: "We believe that the global eSports community deserves a broadcast and viewing platform that's designed specifically for their businesses. We are developing our technology in direct collaboration with the community and brand partners in order to provide the best possible, and crucially, most monetizable streaming experience".

 

Jason Katz, COO of Azubu said: "We are expanding operations in a number of new regions around the world and creating bigger and more content partnerships and corporate relationships, which we're looking forward to announcing in the near future. This latest round of financing will support our global growth and expansion into 2016 and beyond".

 

Azubu has credited its exclusive partnerships for its huge 1200% growth in viewership over the last 12 months, with partners like KeSPA and the 2015 World Champion SKT T1 team with its star Lee "Faker" Sang-hyeok in Korea, paiN Gaming and AD Felipe "brTT" Gonçalves in Brazil, and Berlin-based European team Origen, and its founder Enrique "xPeke" Cedeño-Martinez

Toshiba looking at $60m accounting scandal fine

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 9, 2015 6:36 pm

Due to an accounting violation, the Japanese securities watchdog has requested that Toshiba be sent a massive $60 million (7.37 billion yen) fine, being described by iTnews as; in a bid "to rebuild a corporate image shattered by a series of high-profile wrongdoing".

 

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Surrounding this news, 50 shareholders have also taken pitchforks to this giant company, requesting around $2.4 million in damages due to stock losses. With Toshiba's stock falling approximately 40 percent since the breaking announcement of this saga in April 2015, this accounting shambles is sending the company towards ruin in its current state.

 

The watchdog seems to be setting out to show Toshiba as an example towards other companies, strengthening its investigations due to Toshiba being such a large Japanese brand name and global company, aiming to make an example out of these illegal blunders.

Bitcoin inventor is an Australian man, sources claim

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 9, 2015 12:29 pm

Bitcoin is an online currency that saw an enormous rise in recent times, with the growth of this currency seeing some people buy houses for previous investments of $25 and the invention of 'Dogecoin' alongside it. While no one is sure exactly where the 'inventor' of this currency is from, Wired believes that an Australian was at the heart of this online phenomena.

 

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Stated to be a 44-year old Aussie by the name of Craig Steven Wright, this man is said to go by the online alias of Satoshi Nakamoto. Not only is Wright theorized to be the creator of this crypto-currency, but he also owned 1.1 million bitcoin which is worth just over $396 million today.

 

In the referenced article, our news source stated; "In the last weeks, WIRED has obtained the strongest evidence yet of Satoshi Nakamoto's true identity. The signs point to Craig Steven Wright, a man who never even made it onto any Nakamoto hunters' public list of candidates, yet fits the cryptocurrency creator's profile in nearly every detail. And despite a massive trove of evidence, we still can't say with absolute certainty that the mystery is solved. But two possibilities outweigh all others: Either Wright invented bitcoin, or he's a brilliant hoaxer who very badly wants us to believe he did."

Uber announces two new ridesharing services for Chicago and Seattle

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 9, 2015 10:32 am

Ridesharing giant Uber has just announced two new ridesharing services that will kick off in the metro areas of US cities Chicago and Seattle.

 

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The first is 'UberHOP' which is similar to conventional bus transportation, which will debut on Thursday, December 10. UberHOP will match groups of passengers with an Uber driver who is heading in the same direction, but unlike Uber's traditional door-to-door services, it requires riders and the driver to meet at a predetermined location and time - just like a bus stop - and they require all passengers to be dropped off at a single location, and walk the rest of the way.

 

The second pilot program (which is available in Chicago only) is 'UberCOMMUTE'. UberCOMMUTE lets drivers who are commuting into the city center to share their trip with another passenger, and secure a portion of the driving expense. UberCOMMUTE is an extension of the UberPOOL program, two or more commuters can share their ride, and defer the cost between themselves. This service will be available Monday through Friday, from 6AM to 10PM.

Philips set to be carbon neutral by 2020

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 8, 2015 6:32 pm

It's not just Google going fully green. During the UN Climate Chance Conference, Philips pledged to become carbon neutral by 2020, telling others at the summit in Paris that it wants to "play its part in reducing greenhouse gas emissions by cutting its carbon footprint to zero."

 

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As announced in a recent press release, Philips outlined that it has already taken action towards this goal, offering business incentives to clients who operate on renewable power as part of the RE100 program.

 

Eric Rondolat, CEO, added "We've reached the climate change checkout and all the contributions from around the world have proved insufficient to prevent a potentially catastrophic rise in global temperatures. The world must set more ambitious goals to improve energy efficiency," further paying homage to LED lighting as a major player towards great energy efficiency.

Survey shows we now spend more at Christmas, mostly using PayPal

By: Chris Smith | More News: Business, Financial & Legal | Posted: Dec 8, 2015 4:29 pm

A recent ShopTalk survey by Vantiv unveiled information about spending habits and amounts during holiday periods of 500 users. The results displayed in a recent press release showed that these people will be spending around $600 on holiday gifts in 2015, with 17% of users wanting to spend less than they did in 2014.

 

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In addition to these findings, Vantiv further reported that 40% of all gift transactions would process through the help of PayPal. Ray Moorman, director of product strategy at Vantiv, says that brick and mortar shoppers should be patient this holiday season; "Many shoppers will be using the new chip cards and EMV readers for the first time this season, and we know there will be some confusion and delays as people get used to the new terminals."

 

Further findings show that 'Millennials' are spending the most money towards televisions and electronics, with the later category posting a higher percentage of funds compared to both Gen-X and baby boomers combined.

9% of Kickstarter projects don't deliver their rewards

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 8, 2015 11:27 am

We all know there are some Kickstarter projects that get funded, but just don't take off for whatever reason. Well, the crowdfunding giant has posted an independent study that says that 9% of Kickstarter projects don't deliver their rewards.

 

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The findings state that 8% of money gets pumped into these projects, with the rates consistent among categories, with tech projects just as likely to fall apart as other categories. The report also added that 13% of failed projects deliver refunds, with backers adding that 10-20% of creators hand out refunds without complaints.

Google going 100% green by 2025

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Dec 7, 2015 7:32 pm

Google says it's doubling its use of the renewable energy that powers its data centers, offices, and other facilities, and plans to use renewable energy only by 2025.

 

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Some of the clean energy will come from US sources -- North Carolina solar arrays and Oklahoma wind farms -- while some will be sourced from a wind farm in Sweden and a solar plant in Chile.

Continue reading 'Google going 100% green by 2025' (full post)

CEO that raised the price on AIDS medicine wishes he charged more

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 7, 2015 2:27 pm

It wasn't too long ago when Turing Pharmaceuticals' CEO cranked up the price on off-patent drug Daraprim, mostly used for people with AIDS and cancer, by a huge 5000%. Now, Martin Shkreli has said he wishes he raised it higher.

 

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Shkreli said: "I could have raised it higher and made more profits for our shareholders, which is my primary duty". During the Thanksgiving holiday, Turing released a press release saying the company had seen the error in its ways, and would be reducing the cost of Daraprim. But, it won't be doing that at all. Turing has said it will offer hospitals a 50% discount on the medicine (still up 2500%).

 

This is where it gets worse, with Shkreli adding: "My shareholders expect me to make the most profit. That's the ugly, dirty truth. I'm going to maximize profits. That's what people [in healthcare] are afraid to say".

Asetek demands suspension of sales of AMD's Radeon R9 Fury X

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Dec 7, 2015 4:32 am

It looks like AMD will be hitting a brick wall with the sales of its Radeon R9 Fury X, as Asetek has sent both AMD and GIGABYTE cease and desist letters over the watercooling on their video cards. GIGABYTE's GTX 980 Waterforce cards are also set to see sales stopped.

 

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Asetek has been in a long battle with Cooler Master, a legal battle which kicked off in 2014. Asetek said that it had won an injunction against Cooler Master over patent infringement claims that went to court late last year. Fast forward to now, GamersNexus received the following statement from Asetek: "Asetek's attorneys have recently sent cease and desist letters to GIGABYTE, demanding that it cease selling Giga-Byte's GEFORCE GTX 980 Water Force (sold under at least model number GV-N980WAOC-4GD) because it contains the Seidon 120M found by the court to infringe Asetek's patents".

 

Asetek continued: "Asetek's attorneys have also written a cease and desist letter to AMD, demanding that it stop selling its Radeon R9 Fury X product, because it infringes Asetek's patents. Our attorneys have had some difficulty obtaining a GIGABYTE GV-N98TXTREME W-6GD, but we expect to receive and analyze one very soon for infringement".

Continue reading 'Asetek demands suspension of sales of AMD's Radeon R9 Fury X' (full post)

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