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The latest and most important Business, Financial & Legal news.

AMD acquires Xilinx on eve of Big Navi reveal in a huge $35 billion

Anthony Garreffa | Tue, Oct 27 2020 5:46 AM CDT

AMD has announced it will be acquiring Xilinx in a gigantic deal worth $35 billion, literally on the eve before its huge RDNA 2 reveal event for the Radeon RX 6000 series graphics cards.

AMD acquires Xilinx on eve of Big Navi reveal in a huge $35 billion 01 | TweakTown.com

The deal sees AMD acquiring Xilinx in an all-stock transaction valued at $35 billion, which gives AMD a serious edge against all of its competitors. AMD now has kick ass CPU, GPU, SoCs, and more -- but the acquisition of Xilinx allows the company to expand its claws deeper into its competitors' markets.

Xilinx on the other hand takes its focus and laser beams it into high-performance FPGAs, SoCs for datacenter, communications, automotive, industrial, aerospace, and defense markets. You can see from these markets alone why AMD wants to acquire Xilinx -- a very big move going forward.

Continue reading: AMD acquires Xilinx on eve of Big Navi reveal in a huge $35 billion (full post)

Netflix rakes in $6.4 billion in Q3, expects 200 million subscribers

Derek Strickland | Tue, Oct 20 2020 5:33 PM CDT

Netflix's recent Q3'2020 earnings show strong increases in revenues, net income, operating income, and subscriber growth. The company expects this trend to continue and push total subscribers to 200 million.

Netflix rakes in $6.4 billion in Q3, expects 200 million subscribers 453 | TweakTown.com

Netflix just reported its Q3 performance and the results are stellar insofar as earnings. The company raked in $790 million in net income (+18%) on $6.436 billion in net revenues (+20%) in the three-month period ended September 30. Subscriber growth hit 2.2 million paid sign-ons, missing internal projections by 300,000 users. Netflix spent roughly $5.1 billion on marketing, costs of goods and services, tech costs, and other expenses, leaving $1.31 billion in operating income (+34%).

As of Q3, total paid subscribers sit at 195 million. The streaming titan expects this number to jump to 200 million by the holiday season in Q4 2020. APAC was the biggest contributor to Q3 subscriber growth--APAC region sign-ups were up 66% YoY and accounted for nearly half of the total market subscriber growth.

Continue reading: Netflix rakes in $6.4 billion in Q3, expects 200 million subscribers (full post)

New stimulus bill may cause a storm weeks before election, here's why

Jak Connor | Sat, Oct 17 2020 4:33 AM CDT

The road to new a coronavirus relief package has been quite a rocky one, as it seemed all was lost when President Trump shut down negotiations between House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin last week.

Only a few days later, life was injected back into a new stimulus when Trump said he was willing to sign a standalone bill that would give Americans $1,200 checks "immediately". Now, things are starting to heat up as it seems the White House and lawmakers are brewing a storm just weeks before the election.

On October 15th, Nancy Pelosi's deputy chief of staff, Drew Hammill, said that Pelosi and Mnuchin spoke for over an hour, and the Secretary said that he would accept Democrats' "national strategic testing plan with "minor" edits & that language would be shared tomorrow." Hammill goes on to say that Pelosi would then review these edits, and that the Speaker reminded Mnuchin about Trump's tweet "STIMULUS! Go big or go home!!!".

Continue reading: New stimulus bill may cause a storm weeks before election, here's why (full post)

China will be paying your new $1,200 stimulus checks, says Trump

Jak Connor | Fri, Oct 16 2020 7:02 AM CDT

Talks of a second coronavirus relief package have been happening for months, and now the President has said who will be paying for, and it won't be the United States.

China will be paying your new $1,200 stimulus checks, says Trump 28 | TweakTown.com

President Trump recently said that during an interview with Fox Business, the United States won't be paying for the next coronavirus relief package, but it will instead be China. This news has come amid a very exhausting stalemate in negotiations over the next relief package, and according to Trump, he would be willing to go higher in terms of spending on the bill, which would include new $1,200 stimulus checks for struggling Americans.

Here's what the President said, "I would [go higher] because this was not caused by our workers and our people, this was caused by China and China will pay us back in one form or another." Trump added, "We're gonna take it from China. I tell you now, it's coming out of China. They're the ones that caused this problem." When Trump was asked how he was going to manage this, he answered by saying, "There's a lot of ways and I'll figure everyone of them out. I already have them figured out."

Continue reading: China will be paying your new $1,200 stimulus checks, says Trump (full post)

Here's why you haven't got a second $1,200 stimulus check

Jak Connor | Fri, Oct 16 2020 6:33 AM CDT

There are millions of Americans across the country that are patiently waiting for a second round of $1,200 stimulus checks, and these are two reasons why they have arrived yet.

Here's why you haven't got a second $1,200 stimulus check 66 | TweakTown.com

Lawmakers on every side cannot agree on a new coronavirus relief package, and now as we are slowly approaching the election, time is running out for a new relief package to be signed in. There are two main issues that are holding up a new relief package being signed in, and ultimately another round of $1,200 checks, and that is state and local government funding and unemployment benefits, according to CNBC.

As for state and local government aid, House Democrats were asking for roughly $900 billion of aid over three fiscal years, meanwhile, Senate Republicans were considering around $200 billion. Negotiations to close the gap between these two figures are still underway. The other point both sides can't agree on is unemployment benefits. House Democrats want to see a continuation of that $600/week benefit, while the White House and Republicans are looking towards a figure of $300/week.

Continue reading: Here's why you haven't got a second $1,200 stimulus check (full post)

Senate to vote on new stimulus bill that doesn't include $1,200 checks

Jak Connor | Thu, Oct 15 2020 5:10 AM CDT

Millions of Americans are currently out of work due to the coronavirus, and millions more are suffering in many more ways from its impact.

Senate to vote on new stimulus bill that doesn't include $1,200 checks 01 | TweakTown.com

Everyone affected by the COVID-19 pandemic is patiently waiting for lawmakers to finally work out another stimulus bill, and now we are starting to hear rumblings of a new bill that will be voted on next week. According to Senate Majority Leader Mitch McConnell who said that the "first order of business" will be the new stimulus bill when the Senate returns to session on October 19th.

The specific details of this new bill aren't yet revealed, but we do know that the plan contains "targeted relief for American workers, including new funding" for Paycheck Protection Program small business loans. Additionally, the new bill also includes funding for schools, unemployment insurance increase, and liability protections for businesses. There was no mention of new $1,200 stimulus checks for Americans.

Continue reading: Senate to vote on new stimulus bill that doesn't include $1,200 checks (full post)

These people have made a serious call for second stimulus checks

Jak Connor | Tue, Oct 13 2020 9:03 AM CDT

Almost everyone is patiently waiting for news surrounding a second coronavirus relief package, and now an urgent call has been made by economists and employers for one to get sorted.

These people have made a serious call for second stimulus checks 41 | TweakTown.com

ABC News has revealed many economists and business leaders warning lawmakers that the result of not getting another coronavirus relief package sorted could be severe on the economy. Heidi Shierholz, a former chief economist at the Department of Labor under the Obama administration, stated that "The real-world consequences of not passing new stimulus at this point in the crisis are 'huge.'"

Shierholz, who is a senior economist and policy director at the Economic Policy Institute, said, "It's literally millions of jobs in the balance here". Shierholz goes on to say that the there is a large gap between the millions of unemployed and job availability, stating "no matter what they do, no matter how amazing they are, no matter how great their skills are, they won't get a job because the jobs just aren't there."

Continue reading: These people have made a serious call for second stimulus checks (full post)

This is the latest update on the new round of $1,200 stimulus checks

Jak Connor | Tue, Oct 13 2020 7:33 AM CDT

Millions of Americans are patiently waiting for an update on the coming coronavirus relief package that includes new $1,200 stimulus checks.

This is the latest update on the new round of $1,200 stimulus checks 36 | TweakTown.com

Over the weekend, the White House proposed a $1.8 trillion stimulus package, and as you may have already expected, both the House Democrats and Senate Republicans had major issues with its contents. House Democrats criticized the proposal by saying the package didn't have enough funds for testing, tracing, and treatment for COVID-19 patients.

Senate Republicans beat the same drum they have been beating since the end of the HEROES Act, and that is the price tag being too high. As you can also probably expect, everyone on all sides pointed fingers at each other and shifted the blame for the lack of progression. House Speaker Nancy Pelosi wrote in a letter to House Democrats that "The news is filled with the numbers in terms of dollars. The heart of the matter is: can we allow the virus to rage on and ignore science as the Administration proposes, or will they accept the scientific strategic plan in the Heroes Act to crush the virus".

Continue reading: This is the latest update on the new round of $1,200 stimulus checks (full post)

Disney announces massive reorganization, huge new focus on streaming

Anthony Garreffa | Mon, Oct 12 2020 7:49 PM CDT

Disney has announced a major reorganization of its media and entertainment divisions, that will have a far increased focus on making content for its streaming and broadcast services.

Disney announces massive reorganization, huge new focus on streaming 01 | TweakTown.com

The company has also outlined that its media businesses, ads, distribution, and Disney+ will be centralized into a single, global Media and Entertainment Distribution organization. The newly-formed Media and Entertainment Distribution will take control of everything, with the focus tightened on streaming.

Newly-minted Disney CEO Bob Chapek explains: "Given the incredible success of Disney+ and our plans to accelerate our direct-to-consumer business, we are strategically positioning our Company to more effectively support our growth strategy and increase shareholder value".

Continue reading: Disney announces massive reorganization, huge new focus on streaming (full post)

AMD in 'advanced talks' to acquire Xilinx for over $30 billion

Anthony Garreffa | Thu, Oct 8 2020 9:38 PM CDT

AMD just launched its Zen 3-powered Ryzen 5000 series CPUs and teased its next-gen RDNA 2-based Radeon RX 6000 series graphics cards -- and now, rumor has it AMD is about to acquire Xilinx.

AMD in 'advanced talks' to acquire Xilinx for over $30 billion 02 | TweakTown.com

The news is coming from The Wall Street Journal, which says that its sources saying that AMD is in "advanced talks" to acquire Xilinx. This would be a gigantic deal, and the WSJ says that the deal could be closed as soon as next week. The news comes weeks after GPU competitor to AMD, NVIDIA, acquired ARM for $40 billion.

Continue reading: AMD in 'advanced talks' to acquire Xilinx for over $30 billion (full post)

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