Business, Financial & Legal News - Page 240

All the latest Business, Financial & Legal news as it relates to tech, gaming, and science - Page 240.

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Apple sues Polish online grocery store for using '' domain, next stop Adam and Eve for eating the forbidden fruit

Anthony Garreffa | Sep 11, 2012 5:28 AM CDT

Alright, this is the stop for ridiculous - anyone who wants to get out and read this news, step off the train and onto the platform, joining Apple. The company who has more lawsuits going than there are stars in the sky are now suing a Polish online grocery store over the '' domain.

The Cupertino-based company has asked the Polish patent office, the UPRP, to cancel a trademark belonging to the store. A meeting reportedly took place in August 29, but ended up being adjourned, and deferred to a later date. Polish site Telepolis, has said that if the dispute isn't settled out of court, it could take two to three years to resolve.

Considering that A.PL have absolutely nothing to do with technology, and are an online grocery vendor, Apple are really clutching at straws here. There's no Apple-like imagery on the website, and it's all in Polish, meaning that it really is only for people who can read the language, and I'm sure it doesn't beat against the door of any Apple-owned patents.

Continue reading: Apple sues Polish online grocery store for using '' domain, next stop Adam and Eve for eating the forbidden fruit (full post)

EA have tried to buy Valve "over the years"

Anthony Garreffa | Sep 11, 2012 3:00 AM CDT

The New York Times are reporting that "over the years", EA have tried to buy Valve. If these talks between the two companies ever reached negotiation, would've valued Valve at "well over $1 billion", the Times reports.

But, that $1 billion figure is a huge understatement, as no one truly knows what Valve are worth. Valve are a private company, controlled by founder Gabe Newell, who doesn't release any financial information. Wedbush Securities analyst, Michael Pachter, has estimated that Valve are worth $2.5 billion today.

Newell have said that Valve's employees would scatter, and that Valve would "disintegrate" before they'd be sold. Newell adds:

Continue reading: EA have tried to buy Valve "over the years" (full post)

HP revise their restructuring figures, more layoffs than expected

Anthony Garreffa | Sep 11, 2012 2:26 AM CDT

HP's global staff numbers are expected to get slashed nearly 10% more than previous reports, where up to 29,000 people will lose their jobs with the company. Previous figures pegged HP at cutting 27,000 jobs from their workforce, according to the company's 10-Q quarterly filing with the U.S. Securities and Exchange Commission (SEC), where they said they will "eliminate approximately 29,000 positions in connection with the 2012 Plan through fiscal year 2014."

Back in May, HP said that they would cut roughly 8% of their global workforce, which would see 27,000 jobs cut, saving around $3-$5 billion which would then be thrown into R&D. The cuts would be done over a two-year period, but overall R&D spending will increase from the 3% of revenue which it stands at now. The filing note also touches on their multi-year restructuring plan, which HP call the "2012 Plan", and is aimed to "simplify business processes, accelerate innovation and deliver better results for customers, employees, and stockholders".

HP also expects charges of around $3.7 billion through the end of the company's fiscal 2014 calendar, with $3.3 billion of this coming from workforce reductions, and $400 million on "other items", including datacenter consolidation. HP have already slashed 3,800 jobs by the end of July 2012, which represents around 7% of the now revised 29,000 figure.

Continue reading: HP revise their restructuring figures, more layoffs than expected (full post)

Hustler founder, Larry Flynt, offers $1 million reward for Mitt Romney's tax information

Anthony Garreffa | Sep 11, 2012 2:20 AM CDT

There are some people who think that potential future President of the United States, Republican nominee Mitt Romney is hiding something. There have been various reports, and you can Google (or Bing) it yourself for some more information.

Last week we reported that hackers had gotten their hands on Mitt Romney's previous tax returns, and are asking for $1 million Bitcoin's or they'd release them. Now we have founder and publisher of Hustler magazine, Larry Flynt, hitting the wire that he is offering $1 million as a reward to anyone who can give him Romney's tax information.

Flynt took out a full-page ad in the Sunday's edition of The Washington Post, promising "up to $1 million" for the dirt on Romney's "unreleased tax returns and/or details of his offshore assets, bank accounts and business partnerships." When money is being thrown around like this, someone might step forward. But, if you had this type of information, and it did involve, and prove that Romney has something very sinister to hide, that is completely provable, would you really want to share it?

Continue reading: Hustler founder, Larry Flynt, offers $1 million reward for Mitt Romney's tax information (full post)

Alibaba set to sell more merchandise this year than Amazon and eBay combined

Anthony Garreffa | Sep 10, 2012 11:30 PM CDT

Alibaba Group is China's largest e-commerce firm, which is looking to have a massive year for 2012. The group expects to sell more merchandise than competitors Amazon and eBay, combined. This is according to Alibaba's chief strategy officer, Zeng Ming.

The group is aiming for around 3 trillion yuan ($473 billion) in annual transaction value from their Taobao e-commerce units in the next 5 to 7 years, says Ming. Jack Ma, Alibaba's founder, said that in 2011, Taobao's transaction value for 2012 would reach 1 trillion yuan. Alibaba have not revealed what percentage of online sales come from Taobao, but it seems to be the number one source of the company's profit engine.

Zeng talks of Amazon and eBay, America's top online retailer and auction site, respectively:

Continue reading: Alibaba set to sell more merchandise this year than Amazon and eBay combined (full post)

Rumor TT: Toshiba cuts NAND prices 20 to 25% today

Chris Ramseyer | Sep 10, 2012 4:06 PM CDT

On the eve of Intel Developers Forum San Francisco, we received word from a SSD manufacture that Toshiba just slashed the price of Toggle Mode NAND Flash by 20 to 25%.

If you recall, just a few months ago Toshiba announced a 30% reduction in manufacturing. Toshiba expected other NAND flash manufacturers to follow suit to increase the cost of flash. Micron took the opportunity to gain market share and either held flash production or increased output. We've seen Micron gain some market share because of it. Companies are even making special Micron flash versions of existing products, like the new OCZ Vertex 4 512GB M (M for Micron) SSD.

With the massive price drop, we can only assume that Toshiba is backing off their reduced output strategy. This is good news for consumers looking for even lower priced SSDs. How good is this for consumers? Well, this is a quote from one of my inside sources:

Continue reading: Rumor TT: Toshiba cuts NAND prices 20 to 25% today (full post)

Blue Toad admits responsibility for leaked UDIDs

Trace Hagan | Sep 10, 2012 3:01 PM CDT

Remember those 1,000,000+ Apple UDIDs that were leaked last week? Well, it turns out that they probably didn't come from an FBI laptop after all. The CEO of Blue Toad, a small, Florida-based publishing company has issued an apology as the data was taken from their servers about two weeks ago.

The data originated from the company's servers, though this doesn't completely rule out that the data made its way to the FBI. It does, however, contradict the story that went along with the leak as the data was taken just two weeks ago, not back in March as claimed. Blue Toad was alerted to the likelihood of it being their data by security researcher David Schuetz.

Schuetz noticed that several of the device names included in the leak made reference, or contained, "Blue Toad." The numerous references seemed to indicate development devices, so he contacted the company. They ran a comparison between the leaked data and their database and found a 98 percent match.

Continue reading: Blue Toad admits responsibility for leaked UDIDs (full post)

Chinese company could sue Apple over patents of their new iPhone design

Anthony Garreffa | Sep 9, 2012 10:28 PM CDT

The patent war between Apple, and what seems like every other company on Earth doesn't look to stop any time soon. A Chinese company, GooPhone, has already patented the design of the new iPhone, in China.

The new GooPhone i5, yes that's its name, was patented and released before the new iPhone was even announced (and it hasn't even really been announced yet, not until September 12). This gives the Chinese company a legal advantage over the real iPhone maker.

GooPhone i5 runs Google's Android 4.1 OS, and of course its internal goodies would be far different to that of the new iPhone's. The GooPhone i5 sports a 4-inch screen, smaller dock connector, and relocated headphone jack - all rumored to be changes included with the unreleased iPhone.

Continue reading: Chinese company could sue Apple over patents of their new iPhone design (full post)

Samsung set to post record Q3 profits of $6.2 billion, thanks to the Galaxy S III

Anthony Garreffa | Sep 9, 2012 7:31 PM CDT

Riding on the wave of success of their super successful Galaxy S III, Samsung are poised to record a record Q3 profit of $6.2 billion. The Yonhap reports that according to analysts, Samsung could see an operating profit of $6.2 billion, up from $5.9 billion in Q2.

It wasn't too long ago that Samsung had announced they sold 20 million Galaxy S III handsets in just 100 days, as well as announcing and releasing the Galaxy Note II and the Galaxy Note 10.1.

Quarterly sales are estimated to have expanded by 24.5% to reach $45.5 billion or so, which sports a 78% year-over-year increase.

Continue reading: Samsung set to post record Q3 profits of $6.2 billion, thanks to the Galaxy S III (full post)

Apple lowers memory chip order from legal adversary Samsung

Trace Hagan | Sep 7, 2012 4:33 PM CDT

Apple, seemingly trying to strike a blow to its favorite legal adversary, has lowered its memory chip order to Samsung for the next iPhone. Samsung has long provided many components for Apple's products, even though Apple and Samsung are constantly involved in legal battles around the world.

Apple has continually been trying to diversify its suppliers and reduce the business it sends towards Samsung, a company Apple continually accuses of copying. "Samsung is still on the list of initial memory chip suppliers (for new iPhones). But Apple orders have been trending down and Samsung is making up for the reduced order from others, notably Samsung's handset business," the Reuters source said.

The reduction in orders is not expected to hurt Samsung by very much. Analysts figure that Apple's purchases of DRAM and NAND chips only make up about 2.5 percent of Samsung's business, so that is the most it could hurt Samsung if they were to completely end their business relationship.

Continue reading: Apple lowers memory chip order from legal adversary Samsung (full post)