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Business, Financial & Legal Posts - Page 8

Washington sues Comcast for $100 million over 'deceptive practices'

By: Sean Ridgeley | More News: Business, Financial & Legal | Posted: Aug 1, 2016 6:56 pm

Washington state's Attorney General Bob Ferguson (pictured below) has filed a $100 million consumer lawsuit against internet and cable giant Comcast.

 

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The suit cites Comcast's "pattern of deceptive practices" that have seen 500,000 customers unnecessarily pay for what's described as as a misrepresented, limited, and worthless protection plan, and alleges over 1.8 million individual violations of the Washington Consumer Protection Act.

 

It also says the "Comcast Guarantee" program which affects almost 1.2 million WA residents is in violation of the Act, and that it charged for technical issues that were said to have been covered, and took deposits that were supposed to have been waived for those with high credit scores.

Continue reading 'Washington sues Comcast for $100 million over 'deceptive practices'' (full post)

Uber spends $500 million to make pickups and drop-offs more efficient

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Aug 1, 2016 10:32 am

Uber is continuing its path towards world domination of the ride sharing world, with the Financial Times reporting that Uber is investing a huge $500 million into its global mapping project.

 

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What is Uber's global mapping project exactly? It will provide a huge amount of ridesharing-specific geographic details, so we should see a worldwide mapping initiative that will take countless cars on every street in the world. The deal includes high-res mapping data from DigitalGlobe, that could be expensive for Uber to use in the long run.

Nintendo financials plunge, even with Pokemon GO's immense success

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 27, 2016 11:25 pm

Pokemon GO might have exploded in popularity in its mere weeks on the market, but Nintendo's financials for their recent quarter are not good, at all.

 

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Nintendo's net sales are down 31% compared to the same quarter of 2015, hitting $587 million. Nintendo also had an operating loss of $48 million, and only sold 220,000 Wii U consoles in the quarter, bringing the total number of Wii U consoles sold to over 13 million.

 

The Nintendo 3DS had another 1 million sales, and in regards to Pokemon GO - remember that Nintendo only owns parts of the game and not the entire game as Niantic steers that ship. Nintendo announced that it has delayed the Pokemon Go Plus accessory, which will now be released in September.

Continue reading 'Nintendo financials plunge, even with Pokemon GO's immense success' (full post)

Vizio acquired by LeEco, a Chinese electronics giant for $2 billion

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 27, 2016 8:36 pm

Vizio has made a name for itself as budget TV maker in the US, with the company getting acquired by Chinese electronics maker LeEvo in a deal worth $2 billion.

 

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The US-based budget TV maker will continue its day-to-day operations in California, where Vizio will now act as a subsidiary of LeEco. Vizio founder and CEO William Wang will be leaving the company in a way, with Vizio's data business, Inscape, being spun off into a privately held company where LeEco will hold 49% ownership.

 

Wang will act as chairman and CEO of Inscape where he will hold a controlling 51% stake. During the press event, Wang said he had mixed feelings regarding the deal, and as the owner and CEO of Vizio, he was reluctant to let it go. But, he said the acquisition deal was the best decision for Vizio's hard-working staff and loyal shareholders.

Continue reading 'Vizio acquired by LeEco, a Chinese electronics giant for $2 billion' (full post)

Carpool Karaoke fan? Yeah, Apple signs 16 episodes for Apple Music

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 27, 2016 4:20 pm

Carpool Karaoke has been a huge hit for The Late Late Show with James Corden, and now Apple is jumping into the driver's seat signing an exclusive deal with CBS for a 16-episode series.

 

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Apple's upcoming 16-episode series of Carpool Karaoke will hit Apple Music subscribers with celebrity guests, with no host assigned to the show just yet. The show will still appear on Corden's show, reports Engadget, especially when it has smash hit segments with Adele and over 119 million views.

 

The latest Carpool Karaoke segment had Michelle Obama, the First Lady of the United States, who showed the world that she isn't just charismatic, but she has some singing skills, too.

Verizon reportedly buying Yahoo for $5 billion

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 24, 2016 10:00 pm

It looks like Yahoo is going to be acquired by Verizon in the very near future, with Recode reporting that while the terms of the acquisition haven't been finalized, Yahoo's board have decided on Verizon as its new owner.

 

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Verizon would be acquiring Yahoo for $5 billion, and while it might not sound like much in the world of other acquisitions worth many times more than that, Yahoo does own companies like Tumblr and Flickr. Verizon acquiring Yahoo sees them also receive those companies, which begins to make more sense.

 

But the most interesting part of Verizon's reported acquisition of Yahoo is that Verizon isn't interested in keeping Yahoo's current boss, Marissa Mayer. AOL boss Tim Armstrong is expected to take over the Yahoo ship once the acquisition is done. Adding fuel to the fire is that Armstrong proposed an AOL-Yahoo merger to Meyer years ago, with Meyer denying the deal.

AMD reports better-than-expected earnings and revenues for Q2 2016

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Jul 22, 2016 4:26 pm

AMD has had a great last 6 weeks or so, riding the Polaris wave with the launch of the Radeon RX 480 and now we're at the end of Q2 2016 - so we get some juicy financial reports to gloss over.

 

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How did AMD go for the quarter? Well, they reported better-than-expected earnings and revenues for Q2 2016, and after the market closed, AMD reported an adjusted loss of 5c per share, lower than analysts' expectations of 8c per share. Revenues increased 9% year-over-year to reach $1.03 billion, beating analysts' expectations of $951.3 million.

 

AMD CEO Lisa Su said in a statement: "Based on the strength of our semi-custom products and demand for our latest Radeon RX GPUs and 7th Generation A-Series APUs, we are well positioned to drive growth and market share gains in the second half of the year".

 

While AMD's financials aren't exactly star-studded, we are getting closer and closer to the release of Zen, which should be incredibly exciting. AMD's next-gen Zen architecture will bring them up to a much more even playing field against Intel, while Intel itself has been struggling lately. Zen will deliver improved performance, support for DDR4, and more.

 

Looking further into the future we have the next-gen Vega architecture in early 2017, where we should see a Fury X successor, and then Navi in 2018 - where we can only imagine how powerful GPUs will be by then.

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).

 

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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).

Continue reading 'French court rules Google, Bing don't have to censor torrent searches' (full post)

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.

 

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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.

 

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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.

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