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Business, Financial & Legal Posts - Page 15

Rick and Morty Szechuan Sauce traded for a CAR

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: 1 week ago

Rick and Morty fans have been going crazy across the world to get their hands-on the is-it-real-or-not McDonald's Szechuan sauce promotion, but now one of these stories has gotten out of control.

 

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The Drive is reporting that someone from Michigan put up a packet of their Szechuan sauce up for trade, with someone offering up their 2004 Volkswagen GTI in exchange for the Rick and Morty Szechuan sauce. The owner of the Volkswagen posted on Facebook after she traded her wheels for the sauce, saying "thank you for the insane trade on the VW Golf mk4 for the legendary Szechuan Sauce", continuing the post with "I hope you get lost in the sauce!". Hmmm, alrighty then.

 

I don't even know what to say, so I'm going to leave it to the comments to try and help me find my thoughts.

Seagate join Bain Captial consortium in Toshiba purchase

By: Shaun Grimley | More News: Business, Financial & Legal | Posted: Sep 29, 2017 2:21 pm

Yesterday we reported that Toshiba had sold its memory division for $18 billion to the Bain Capital consortium, Seagate have today confirmed their participation in the Bain Capital consortium to acquire Toshiba Memory Corporation. Seagate have committed $1.25 billion in funding to the group by March 2018, in return Seagate expect that this will enable a long-term NAND supply agreement with Toshima Memory that will provide NAND flash chips for Seagate's expanding SSD portfolio.

 

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"Over the course of many years, Seagate has developed an excellent long-term relationship with Toshiba Memory, and we have always been impressed with their consistent leadership in advancing NAND technology," said Steve Luczo, Seagate's chairman and chief executive officer. "We are pleased and honored to be part of the Bain Capital consortium and to help facilitate maintaining Toshiba Memory as a world leading independent NAND technology company. We know that Bain Capital is dedicated to the long-term success of Toshiba Memory and believe this acquisition is in the long-term best interests of our industry and of storage customers worldwide."

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Toshiba inks $18 billion deal to sell memory business

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 29, 2017 1:26 am

With months and months of behind-closed-doors meetings and whispers, Toshiba has reportedly inked an $18 billion deal to sell of its chip business.

 

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Western Digital was reportedly in the running for Toshiba's memory division, but a consortium led by Bain Capital LP took the lead and secured Toshiba's memory business. Something of note: SK Hynix is part of this consortium, which isn't in the best interests of WD.

 

Japanese companies will still maintain 50% of the business, keeping the local government with smiles on their dials, while Toshiba retains a 40.2% stake in Toshiba Memory Corp. Bain Capital LP will sail ahead with 49.9% of Toshiba Memory Corporation, while Japanese medical company, Hoya Corp, takes 9.9%.

Vivendi abstains vote in Ubisoft shareholders meeting

By: Derek Strickland | More News: Business, Financial & Legal | Posted: Sep 25, 2017 5:23 pm

French conglomerate Vivendi, who's vying for a take-over of hit games-maker Ubisoft, has once again abstained from voting in the video games publisher's annual shareholders meeting.

 

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The results for Ubisoft's 2017 general shareholders meeting are in, and they show that Vivendi has once again opted not to show up for the proceedings. Vivendi is currently pushing to buy out Ubisoft by slowly accumulate share capital and voting rights, and currently sits on the largest pool of share capital owned by one stakeholder at 26.63%. The company also has a huge stockpile of voting rights, but has yet to implement them at a shareholders meeting due to bad blood (to say there's bad blood between Ubisoft and Vivendi is a massive understatement).

 

Vivendi's absence for Ubisoft's 2017 general shareholders meeting stamped a 29.99% "abstain" vote on every single resolution drawn up by the publisher, including Extraordinary Resolution 31 that would've granted all Ubisoft employees free company shares. The resolution was the only measure that failed to pass; combined with Vivendi's nearly 30% abstain vote, 9.98% of attending shareholders voted against the resolution. The Guillemots drafted the resolution in an attempt to fortify employee faith and goodwill in the company, and Ubisoft's leaders' calls on Vivendi to help the measures pass went unheeded.

 

Read More: Unfurling the Vivendi vs Ubisoft saga

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Windows Store being re-branded as Microsoft Store

By: Derek Strickland | More News: Business, Financial & Legal | Posted: Sep 22, 2017 11:14 pm

Microsoft has formally changed the name of the Windows Store to the "Microsoft Store," which hints at bigger things.

 

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The storefront's name change was made in the latest update for Windows Insiders who test out pre-release Windows 10 updates, who noticed the name and the shop's icon getting a new shape. Outlets like Windows Central are curious if Microsoft will start selling content other than the storefront's current digital fare--apps, games, music, videos, etc.

 

Others wonder if Microsoft will actually start selling non-digital content through the onboard storefront as well, considering the "Microsoft Store" matches up with the company's website storefront and traditional brick-and-mortar retailers. All in all the shop shouldn't change all that much, and Microsoft has yet to formally announce the change--or what it actually means.

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HTC ceases stock trading, takeover likely

By: Derek Strickland | More News: Business, Financial & Legal | Posted: Sep 20, 2017 5:15 pm

Beleaguered Taiwanese smartphone-maker HTC has halted trading of its shares, lending credence to buyout rumors.

 

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HTC today announced that it has paused all trading of company stock on the Taiwan Stock Exchange ahead of a "major announcement," which is likely an official takeover reveal. The company, which once sat alongside the biggest phone-makers in the industry, recently reported its eighth straight consecutive loss in May, with losses of $66 million in first quarter of the current fiscal year.

 

Speculation indicates HTC will sell its research and development and smartphone divisions to Alphabet Inc, and other reports say the company will likewise spin off its VR division that's responsible for the HTC Vive headset.

 

As The China Post reports, HTC has seen a significant drop in stock value in the last few years. The company's shares currently sit at NT $69.30, only 5% of the company's all-time TSE high of NT $1,300 achieved in 2011.

EA CEO Andrew Wilson joins Intel's board of directors

By: Derek Strickland | More News: Business, Financial & Legal | Posted: Sep 18, 2017 5:14 pm

Electronic Arts CEO Andrew Wilson has joined Intel's board of directors, and will continue his role leading EA while advising the hardware giant.

 

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Tech titan Intel has elected EA's Chief Executive Officer Andrew Wilson onto its board of directors to help guide the company's future, the Santa Clara-based corporation today announced. "Andrew understands first-hand how technology and data create opportunity with his transformation of EA from offline packaged goods to a leader in online digital services," said Intel Chairman Andy Bryant in an official press release. "In addition to his experience leading and growing a global, technology-driven company, Andrew possesses a combination of creativity and business acumen that will further strengthen Intel's board."

 

With billions in yearly revenues, Electronic Arts is one of the biggest games companies in the industry, and sits at the forefront of the gaming world in regards to next-gen gaming technologies and monetization strategies. In fact, the games titan earned more from live services than it did from full game sales in its fiscal Q1'17 earnings. Live services, which include extra content/DLC/microtransactions from Ultimate Team and all subscription earnings, were up 22% year-over-year raking in $420 million or a whopping 61.67% of EA's first quarter digital net sales earnings.

 

EA is currently researching new tech including AR, VR, machine learning and even AI under its new SEED division in an attempt to understand how these emerging technologies can be integrated into the gaming sphere.

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Bids for Toshiba chip unit reach $22 billion

By: Derek Strickland | More News: Business, Financial & Legal | Posted: Sep 10, 2017 12:21 am

The leading bid for Toshiba Memory Corp are now up to $22 billion, sources have told Reuters.

 

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A consortium of buyers made up of chip-maker SK Hynix, investment firm Bain Capital, and numerous Japanese investors have raised their bid on Toshiba's storage chip business to 2.4 trillion yen, or $22.3 billion, sources familiar with the matter tell Reuters. Toshiba seeks to sell its storage business in an attempt to plug a massive earnings hole left by its failed Westinghouse nuclear business, which caused the company to lose $8.7 billion in its 2016 fiscal year.

 

U.S.-based Western Digital, who led a major bid for Toshiba's chip unit, has reportedly dropped out of the runnings. Sources say Toshiba is reviewing three consortium offers for the storage business, which included bids from a group led by Foxconn. Interestingly enough, tech giant Apple has backed all offers for Toshiba Memory Corp in an attempt to become closer to the source of storage memory to power its slate of iPhone devices.

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Game of Thrones S7 has been pirated over 1 billion times

By: Anthony Garreffa | More News: Business, Financial & Legal | Posted: Sep 7, 2017 2:35 am

Game of Thrones' latest season has just wrapped up, with one piracy monitoring company stating the S7 of Game of Thrones was pirated over one billion times.

 

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Andy Chatterly, CEO and co-founder of Muso, recently spoke with Torrent Freak where he said: "It's no secret that HBO has been plagued by security breaches throughout the latest season, which has seen some episodes leak before broadcast and added to unlicensed activity".

 

He added: "In addition to the scale of piracy when it comes to popular shows, these numbers demonstrate that unlicensed streaming can be a far more significant type of piracy than torrent downloads".

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Toshiba to open new chip plant in Japan

By: Derek Strickland | More News: Business, Financial & Legal | Posted: Sep 6, 2017 7:17 pm

As demand for flash memory soars, Japanese storage-maker Toshiba has announced that it will build a new semiconductor manufacturing facility in Iwate, northern Japan.

 

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Beleaguered tech giant Toshiba is currently negotiating a sale of its Toshiba Memory Corporation chip business for up to $8.8 billion to plug vast losses of revenue, but that hasn't stopped the company from laying plans to open a new fabrication facility in Japan. This new plant, which is planned to go up in Iwate sometime next year, would be the memory-maker's second such facility, with the first located in Yokkaichi, central Japan.

 

The conglomerate may partner with SanDisk, the Western Digital-owned memory company, to help raise investment funds for the plant. With flash memory in major demand for consumer electronics, it will be interesting to see if this new facility helps alleviate the memory shortage that plagues key segments as well as Japanese-owned companies like Nintendo.

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