USA | Pixr8 News

Bloomberg would sell Media business if elected US President

19Feb By PriyankaNo Comments

USA

Bloomberg would sell Media business if elected US President

Mike Bloomberg would sell the media and other businesses he created in the 1980s which bears his name and made him a multibillionaire if he is elected US president, a top adviser has said. Bloomberg would put Bloomberg LP into a blind trust, and the trustee would then sell the company, adviser Tim O'Brien said Tuesday. Proceeds from the sale would go to Bloomberg Philanthropies, the charitable giving arm that funds causes from climate change to public health and grants for American cities. The only restriction Bloomberg would put on the sale is that it not be sold to a foreign buyer or a private equity company, O'Brien said. Bloomberg, a Democrat, is currently chief executive of the company. "We want to be 180 degrees apart from Donald Trump around financial conflicts of interest,...

US Online Sales Set to Hit New Record on ‘Cyber Monday’

2Dec By PriyankaNo Comments

USA

US Online Sales Set to Hit New Record on ‘Cyber Monday’

US online sales are set to hit a new record on this week's 'Cyber Monday', Adobe Analytics said, as e-commerce outlets gear up to lure shoppers in the opening days of the holiday season. Internet purchases are expected to reach USD 9.4 billion, a jump of nearly 19 percent over last year's record-setting USD 7.9 billion take, according to a Sunday estimate from the company, which measures transactions from 80 of the 100 largest US online retailers. US merchants have long viewed the days after the Thursday Thanksgiving holiday as a prime time to part shoppers from their money, particularly during the 'Black Friday' sales following the holiday. This year's expected record-setting shopping comes as Price Waterhouse Cooper found for the first time that a majority of people surveyed sai...

Spending on U.S. Credit, Debit, and Prepaid Cards to Top $10 trillion

12Nov By PriyankaNo Comments

USA

Spending on U.S. Credit, Debit, and Prepaid Cards to Top $10 trillion

CARPINTERIA, Calif., Nov. 11, 2019- Spending for goods and services initiated by credit, debit, and prepaid cards issued in the United States, which totaled $7.266 trillion in 2018, is projected to reach $10.086 trillion in 2023 according to statistics released this week from The Nilson Report, the leading card, and mobile payment industry trade publication. At the end of 2018, there were 6.96 billion credit, debit, and prepaid cards in circulation in the U.S. That total is expected to reach 8.02 billion at the end of 2023. "When nearly 7 billion payment cards generate more than $7 trillion in purchases of goods and services…you have to conclude the state of the card business is very good," said David Robertson, Publisher of The Nilson Report. Credit cards accounted for 54.17% of...

31Oct By AnkitaNo Comments

FUNDING

Brut. Raises $40M in New Funding, Launch Operation in USA

NEW YORK, 31st Oct 2019-- Leading next-gen global digital media brand Brut. officially launched in the USA. Brut. also announced that it raises $40M in Series B funding led by Red River West and blisce/. Other investors include Aryeh Bourkoff, Founder and CEO of LionTree LLC, and Eric Zinterhofer, Founding Partner of Searchlight Capital Partners. The company will use this new fund to continue its worldwide expansion, starting with bolstering its operations in the U.S. “Conversation has been the biggest revolution in media consumption,” said Guillaume Lacroix, founder, and CEO of Brut. “We are engaging the most aspirational audience millennials and Gen Zers and sparking positive social dialogue around key issues. Our editorial tackles the topics that are most important to...

Pentagon awards Microsoft $10 Bn ‘War Cloud’ Deal

29Oct By Press Trust of IndiaNo Comments

USA

Pentagon awards Microsoft $10 Bn ‘War Cloud’ Deal

The Pentagon has awarded Microsoft a USD 10 billion cloud computing contract called JEDI. The contentious bidding process for the contract pitted Microsoft, Amazon, and Oracle, among others, against one another. Bidding for the huge government contract has attracted more attention than usual, sparked by speculation early in the process that Amazon would be awarded the deal. Tech giants Oracle and IBM pushed back with their own bids. Oracle also challenged the bid process in federal court but lost. The resulting system will store and process vast amounts of classified data, allowing the US military to use artificial intelligence to speed up its war planning and fighting capabilities. The Department of Defence emphasized in an announcement that the process was fair and followed p...

Apple Produce Future Mac Pro in US, Shift base from China

24Sep By AnkitaNo Comments

USA

Apple Produce Future Mac Pro in US, Shift base from China

Apple would keep making its Mac Pro in the United States, after obtaining tariff exemptions for some components in the high-end computers. The California tech giant said it would keep production of the Mac Pro a computer costing some $6,000 in Austin, Texas, following reports it was considering moving the manufacturing from China. Apple said the decision came after the company obtained "a federal product exclusion" from tariffs "for certain necessary components" for the computers. The news comes despite comments from President Donald Trump in July that he would oppose waiving tariffs on components for Apple's devices, commenting in a tweet, "Make them in the USA, no Tariffs." Apple chief executive Tim Cook said in a statement, "the company is proud to be building the new Mac P...

22Aug By AdityaNo Comments

FUNDING

Better.com raises USD 160 mn funding

Better.com, an online mortgage platform in the US has closed a USD 160 million (about 1,144 crore) funding round from Activant Capital, Ping An Global Voyager Fund and Ally Financial among others. The series C round also saw participation from Citi, AGNC, Healthcare of Ontario Pension Plan (HOOPP) and American Express Ventures, who joined existing shareholders Goldman Sachs, Pine Brook, and Kleiner Perkins in the round, a statement said. "The capital we've raised will enable us to accelerate our investment in product development, grow our strategic partnerships, expand our team and scale our platform to continue making it easier for borrowers to get home financing," Better.com CEO and founder Vishal Garg said. Better.com said it has grown 3X year-on-year and is currently funding U...

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

13Aug By Ankita SinghNo Comments

ACQUISITION

Tech Mahindra Acquire 65% Stake of US Design Firm For $70 mn

Indian IT company Tech Mahindra will pay USD 70 million (about Rs 490 crore) to acquire 65 percent stake in US-based strategic design consultancy firm Mad*Pow. "We are buying 65 percent upfront and for that 65 percent we are paying about USD 70 million and the balance 35 percent will be acquired subsequently from the management team and the founders...," Vivek Agarwal, head for corporate development & BFSI at Tech Mahindra Limited, said in a call with analysts. The company announced plans to acquire Mad*Pow on July 30. Tech Mahindra MD and CEO CP Gurnani said Mad*Pow is a 70-people strong organisation with capability in customer experience, human center design and understanding of behavioral science which will give Tech Mahindra a significant edge in digital transformation pro...

Facebook agrees to pay $5 billion Penalty for privacy violations

25Jul By AnkitaNo Comments

News

Facebook agrees to pay $5 billion Penalty for privacy violations

Social media platform Facebook has agreed to pay a whopping $5 billion to the Federal Trade Commission as a penalty for sharing details of its users to the third party, in the largest-ever security fine imposed on any company for disregarding consumer information. In addition to paying the record USD 5 billion in penalty, Facebook has also agreed to submit itself to new restrictions and a modified corporate structure that will hold the company accountable for the decisions it makes about its users' privacy. Facebook agreed to all this in order to settle Federal Trade Commission (FTC) charges that the company violated a 2012 FTC order by deceiving users about their ability to control the privacy of their personal information. "Among other matters, our settlement with the FTC requir...

Walmart Pleads Guilty, Agreed to pay $282 million over corruption charges

21Jun By NitishNo Comments

News

Walmart Pleads Guilty, Agreed to pay $282 million over corruption charges

Walmart agreed to pay $282 million to settle federal allegations of overseas corruption, including funneling more than $500,000 to an intermediary in Brazil. U.S. authorities went after Walmart under the Foreign Corrupt Practices Act, which prohibits American companies operating abroad from using bribery and other illegal methods. The nation's biggest store chain settled both civil charges brought by the Securities and Exchange Commission and a criminal case built by federal prosecutors in Virginia. It said the two settlements close the books on federal investigations that stretch back to 2012 and have collectively cost the company more than $900 million. "We're pleased to resolve this matter," said Walmart President and CEO Doug McMillon in a statement. "Walmart is committed to d...

US Secretary fears Huawei will pass information to Chinese govt

30May By Press Trust of IndiaNo Comments

USA

US Secretary fears Huawei will pass information to Chinese govt

The Trump administration is opposing Huawei as it fears the State-controlled telecom giant will pass on information to the Chinese government of which it is an "instrument" and deeply connected with, US Secretary of State Mike Pompeo has said. Escalating the bruising trade war with China, the US Department of Commerce recently blacklisted Huawei over security concerns and barred American companies from installing its telecom equipment. Earlier in the week, US President Donald Trump said there was a possibility of including the Huawei issue in the ongoing trade negotiations with China. "Huawei is an instrument of the Chinese Government. They are deeply connected," Pompeo said to a Business News in an interview. Responding to a question on the US efforts to oppose Huawei globally...

Trump says Google CEO Sundar Pichai committed to US, not Chinese military

28Mar By Press Trust of IndiaNo Comments

USA

Trump says Google CEO Sundar Pichai committed to US, not Chinese military

US President Donald Trump said that Google CEO Sundar Pichai, whom he'd previously accused of indirectly boosting China's military, has reassured him that he is "totally committed" to US security. "Just met with @sundarpichai, President of @Google, who is obviously doing quite well," Trump tweeted after a White House meeting. "He stated strongly that he is totally committed to the US Military, not the Chinese Military." Earlier this month Trump complained that Google's business activities in China were "helping China and their military. "There was also criticism from General Joseph Dunford, chairman of the Joint Chiefs of Staff, who told Congress "the work that Google is doing in China is indirectly benefiting" China's armed forces. America's top military officer has also urged US...