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Pandora CEO Brian McAndrews said the recent launch of Apple Music hasn't had an immediate impact on its own business.
Of course, Apple Music has been available for less than one month, and while the company works out a few issues, we'll have to wait and see what impact it may have on Pandora and Spotify. However, it looks like McAndrews had some strong words regarding the newest tradition to the streaming music market:
"In terms of the Apple Music, in Q2, of course, Apple Music launched at the end of June, so there was no impact," McAndrews noted during a recent earnings call. "Going forward, we feel really good about our trajectory and competitive position... there could be some listeners who experiment with the service and there could be some short-term impact, but we don't - we aren't seeing any meaningful listener impact at this time and we don't expect any long-term meaningful impact either."
A whopping $49 billion acquisition of DirecTV by AT&T has been approved by the Federal Communications Commission (FCC), and the two companies will now create the largest pay-TV business in the United States.
The deal allows AT&T to receive new revenue growth outside of its wireless service, while DirecTV desperately gets a broadband product that the company was unable to create for itself.
"The conditions imposed by the Commission address potential harms presented by the combination," according to the FCC. "The conditions also ensure that the benefits of the merger will be realized."
LG has just invested a cool $908 million over the course of two years by starting construction on a new plant that will be making flexible OLED displays, according to a new regulatory filing.
Flexible OLED displays will be a big thing going into the future, with flexible displays found in smartphones, monitors, TVs and in the next few years, many more devices. Think flexible OLED panels in VR headsets, wearables, and so much more. Right now, products with flexible displays are expensive because they cost more to produce. But with a near $1 billion investment from a company like LG, we should see the price of flexible OLED panels drop considerably over the next few years.
The PC market has been all over the place in recent years, with vendors struggling to sell PCs and devices pre-loaded with Microsoft Windows 8. Chinese manufacturer Lenovo is the No. 1 largest PC manufacturer with around 20 percent of global market share, according to the IDC research group.
However, Lenovo is aware that the PC market faces problems - with the company noting a Q2 7.5 percent year-over-year drop, while the PC market dropped almost 12 percent.
"We are starting to see a big consolidation in the market... we think that probably within the next 24 months, maybe four to five players will leave," said Gianfranco Lanci, COO at Lenovo, in a statement to CNBC.
Silk Road founder Ross Ulbricht was given two life sentences and a mix of three lesser sentences for his role in operating the underground drug website. The hammer has dropped for a different drug dealer on the Silk Road website, after a guilty plea late last year for drug conspiracy charges, leading to 2-1/2 years in prison.
Michael Duch, a heroin dealer using the website under the alias "deezletime," will be given 21 months credit for time served. Although his attorney, Samuel Braverman, asked US District Judge Katherine Forrest to release his client to a drug rehabilitation center, that doesn't seem likely just yet.
Duch reportedly used Silk Road to purchase painkillers, and when his addiction spiraled out of control, began selling narcotics on the site.
You may have noticed this news across your social media feeds over the past few days, if not - you're likely in for a sad surprise. Kotaku recently published a story 'exposing' behind-the-scenes happenings in Australian branches of the game retail chain EB Games, covering topics such as unpaid overtime, sexual harassment, verbal abuse and more.
Focused mainly around one district manager by the name of Mark DiStefano, employee accounts within this article covered topics ranging from racial slurs, barrages of abuse, tears and more. Other accounts discussed rejected sexual harassment claims due to the lack of an internal HR department and 'forced' unpaid labor - threatening employees with a cut back on casual hours if unpaid work was not completed regularly.
EB Games management told Kotaku that they comply "with all Fair Work Australia's rules and regulations," with no pressing statements being spotted by the company just yet. Brandishing an extremely active Twitter, this may be one place to stay tuned for official updates from EB itself.
In a recently issued press release, technology giant Apple bragged a fiscal 2015 third quarter pull of $49.6 billion in revenue and $10.7 billion profit, measuring in at $1.85 per diluted share.
Compared to this time last year when Apple was pulling in $37.4 billion in revenue and a net profit of $7.7 billion, CEO Tim Cook is obviously happy with the results. With the hike explained as gaining assistance thanks to "iPhone revenue [being] up 59 percent" when compared to last year, the "strong sales of Mac, [and] all-time record revenue from services, driven by the App Store, and a great start for Apple Watch" all played a part, said Cook.
Set with eyes on the future, Cook further commented that customers should expect iOS 9, OS X EL Capitan and watchOS2 this coming fall.
If the latest report from The Wall Street Journal turns out to be true, Qualcomm could be the next big tech giant to look at a strategic split. The company is reportedly in the process of a sweeping review that would look at the possibilities of breaking up into pieces.
In the recent months, Jana partners LLC has been asking Qualcomm to cut costs, repurchase shares at a faster rate, add new members to its board of directors, and explore a break up, after it was revealed it had a $2 billion stake in Qualcomm. The strategic split would see Qualcomm cutting up and separating its chip production business from its patent-licensing arm.
Qualcomm is expected to report its fiscal Q3 results on Wednesday, and according to The Information, the company will lay off around 10% of its global workforce, resulting in 3000 jobs being cut.
Microsoft has posted its revenues for the quarter, with the Redmond-based OS giant posting a $2.1 billion loss, just a week away from arguably its biggest launch ever; Windows 10.
The company had to get rid of thousands upon thousands of employees in its smartphone side of things, but with its $2.1 billion in loss from $22.2 billion in revenue, it's all being blamed on no flagship releases, and the fact that the company had a huge $7.5 billion write down from the acquisition of Nokia's Devices and Services Division last year. There were also two restructuring charges of $780 million and $160 million, with Microsoft noting: "these items totaled $8.4 billion or a $1.02 per share negative impact. Excluding this impact, operating income and EPS would have been $6.4 billion and $0.62, respectively".
But the surprising part of Microsoft's quarterly earnings is that Surface revenues are up by a huge 117%, or $888 million for the three-month period. Throughout Microsoft's entire 2015 FY, Surface revenues passed $3.6 billion, an increase of 65% year-over-year. Microsoft also notes that the Xbox has experienced growth, with the company explaining: "based on strong growth in consoles, Xbox Live transactions and first party games".
PayPal has just made its second debut on the NASDAQ this morning, with trading opening up at $41.46, reaching the heights of $42.55, before floating down to $41.03. PayPal Holdings Inc. now has a market value of just above $50 billion.
The company was founded back in 1998 under the name Confinity, with the company developing security software for early personal digital assistants (PDAs). The businesses didn't reach the success that its founders hoped, but it did inspire them to create the company that would eventually be used by tens of millions across the world; PayPal.
Confinity eventually merged with Elon Musk's X.com, where it was soon named PayPal. The company went public in 2002 under the ticker PYPL, opening at $13 per share. But with considerable tie-ins with eBay, it made sense that eBay would acquire PayPal later that year for a swift $1.5 billion. PayPal quickly turned into the electronic money transfer platform it is today, but it was activist investor Carl Icahn that urged that eBay split PayPal into a separately traded company.