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Apple Will Invest $350 Billion into US Economy in Next 5 Years

18Jan By AdityaNo Comments

USA

Apple Will Invest $350 Billion into US Economy in Next 5 Years

Apple has announced that it will invest and spend about USD 350 billion in the United States in the next five years creating some 20,000 jobs in the country. Already the largest US taxpayer, Apple anticipates repatriation tax payments of approximately USD 38 billion as required by the recent changes to the tax law.A payment of that size would likely be the largest of its kind ever made, the Silicon Valley based company said in a statement. "Apple is a success story that could only have happened in America, and we are proud to build on our long history of support for the US economy," said Tim Cook, Apple's CEO. "We believe deeply in the power of American ingenuity, and we are focusing our investments in areas where we can have a direct impact on job creation and job preparedness. ...

Twitter Says World Leaders Like Trump Have Special Status

6Jan By reutersNo Comments

USA

Twitter Says World Leaders Like Trump Have Special Status

Twitter Inc on Friday reiterated its stance that accounts belonging to world leaders have special status on the social media network, pushing back against users who have called on the company to banish U.S. President Donald Trump. “Blocking a world leader from Twitter or removing their controversial Tweets would hide important information people should be able to see and debate,” Twitter said in a post on a corporate blog. Twitter had already said in September that “newsworthiness” and whether a tweet is “of public interest” are among the factors it considers before removing an account or a tweet. The debate over Trump’s tweeting, though, raged anew after Trump said from his @realDonaldTrump account on Tuesday that he had a “much bigger” and “more powerful” nuclear button than No...

Trump’s Christmas Wish: ‘We’ve Got Prosperity, Now We Want Peace’

25Dec By reutersNo Comments

USA

Trump’s Christmas Wish: ‘We’ve Got Prosperity, Now We Want Peace’

On Christmas Eve, U.S. President Donald Trump took calls from children, asking them what they wanted most from Santa, and revealing what was on his own wish list. One boy wanted building blocks. Another wished for his grandma to get out of the hospital. And as for Trump - who has sent a series of combative tweets since arriving at his Florida vacation home - he said he wants “peace for the country.” “We’ve got prosperity - now we want peace,” Trump told a child named Ryan, who called the North American Aerospace Defense Command (NORAD) to check on Santa’s progress. Every year on Christmas eve NORAD purports to track the flight of Santa and his reindeer-pulled sleigh, a tradition since 1955 when a department store misprinted a phone number, sending a flood of calls to a NORAD c...

Chinese Ride Sharing Giant DiDi Chuxing Is Coming To North America

8Dec By RishabhNo Comments

USA

Chinese Ride Sharing Giant DiDi Chuxing Is Coming To North America

Beijing, China's ride hailing giant Didi Chuxing is planning to expand its services to expand to Mexico by next year, marking the company's first international expansion move. This also signals a new phase of competition with global ride sharing company Uber, which quit its Chinese business by selling it to Didi in 2016 after lengthy and expensive battle. After Uber, Didi Chuxing is the most valued privately owned firm in the world. Its decision to begin recruiting drivers and offering rides in Mexico will surely be seen as shot across Uber's bow at a time when the company witnessed a series of self-inflicted scandals. Didi right now has no card outside China, but will be launching an app in the Mexico and recruit local drivers. It is unclear which cities Didi will target, althoug...

SoftBank Funding May Prompt Uber To Review Game Plan In Southeast Asia

21Nov By reutersNo Comments

BUSINESS

SoftBank Funding May Prompt Uber To Review Game Plan In Southeast Asia

SoftBank Group’s multi-billion dollar investment in Uber Technologies Inc opens up the possibility of combining it with other ride-hailing assets the Japanese group owns in a consolidation of a rapidly growing business across Asia, industry sources say. Uber Technologies Inc said on Nov. 12 that a planned deal with a consortium led by SoftBank and Dragoneer Investment Group was moving forward. The consortium plans to inject $1 billion to $1.25 billion into Uber, and buy up to 17 percent of existing shares in a secondary transaction. SoftBank has also been a big investor in Uber’s rivals across Asia, including Southeast Asia’s Grab, China’s DiDi Chuxing, and India’s Ola, as it works to achieve founder Masayoshi Son’s vision of a future driven by artificial intelligence and interconnec...

Qualcomm Draws Up Plans To Rebuff Broadcom’s $103B Offer: Sources

13Nov By reutersNo Comments

News

Qualcomm Draws Up Plans To Rebuff Broadcom’s $103B Offer: Sources

U.S. chipmaker Qualcomm Inc is making preparations to reject rival Broadcom Ltd’s $103 billion bid as early as this week, four people familiar with the matter said on Sunday, setting the stage for one of the biggest-ever takeover battles. Qualcomm’s board of directors could meet as early as Sunday to review the unsolicited acquisition offer and decide on its strategy, the sources said. The preparations for the board meeting indicate that Qualcomm is poised to rebuff the bid as insufficient as early as Monday, although it may decide to spend a few more days this week to prepare its full response to Broadcom, the sources added. Qualcomm Chief Executive Steven Mollenkopf has spent the past few days soliciting feedback from Qualcomm shareholders, and feels that Broadcom’s $70-per-share b...

Lyft May Claim A Third Of U.S. Market Soon!

11Nov By RishabhNo Comments

USA

Lyft May Claim A Third Of U.S. Market Soon!

Lyft is expected to take over a significant amount of U.S. market, and has gained much on its rival Uber Technologies Inc, according to a private Lyft investor report obtained by Bloomberg. The investor is depicting in the report that by the end of the year, Lyft's shares will see a boost in its U.S. ride-hailing business by about 61 percent. The gains that the company got are under the disturbed reputation of Uber after a series of events like executives stepping down and the distress among its drivers. These series of events has kept Uber distracted for a long time, while it was busy with internal management conflicts, Lyft gained on that and may emerge in the coming months. Besides gaining market share, Lyft has boosted its profitability and sales, the document mentioned. Accor...

Former Yahoo CEO Apologizes For Data Breaches, Blames Russians

9Nov By reutersNo Comments

USA

Former Yahoo CEO Apologizes For Data Breaches, Blames Russians

Marissa Mayer, former CEO of Yahoo on Wednesday, apologised for the two historic data breaches at their company. She blamed the Russian agents, saying they were behind at least one of these breaches, at a hearing on the growing number of cyber attacks on major U.S. companies. ”As CEO, these thefts occurred during my tenure, and I want to sincerely apologise to each and every one of our users,” she told the Senate Commerce Committee, testifying alongside the interim and former CEOs of Equifax Inc and a senior Verizon Communications Inc executive. “Unfortunately, while all our measures helped Yahoo successfully defend against the barrage of attacks by both private and state-sponsored hackers, Russian agents intruded on our systems and stole our users’ data.” she added. Yahoo's most of t...

Global Press Freedom Hit The All Time Low: Report

30Oct By RishabhNo Comments

ANALYSIS, INSPIRATIONAL

Global Press Freedom Hit The All Time Low: Report

Global press freedom has recently declined to its all time low ever in 13 years in 2016 amid unprecedented threats to journalists and media outlets in major democracies. As per the research done by Freedomhouse.org only 13 percent of the world's population enjoys a Free press. Not to forget the far-reaching attacks on news media in a democratic society by Donald Trump, first as a candidate and now as the President of United States.Borrowing a term popularized by Soviet leader Joseph Stalin, Trump has labeled the news media as “enemies of the people”. Yet, U.S. remains as one of the most press-friendly countries in the world, in comparison to the countries like North Korea, Turkmenistan, Iran, Syria who are designated as Not-free in the Freedom of press 2017. While the pr...

2018 Will Be A Better Year For Indian IT: Report

23Oct By Press Trust of IndiaNo Comments

ANALYSIS

2018 Will Be A Better Year For Indian IT: Report

With the US economy doing well, Indian IT companies can look forward to a better year in 2018 on the back of growing tech spend and demand from clients, according to senior industry figures. Noting that the largest market for Indian IT companies is the US, former CFO of Infosys V Balakrishnan said their ability to grab growth opportunities is critical. "The US economy is doing extremely well. I think they are still growing 2-2.5 per cent, good growth for that economy," he told PTI. "If you look at the Gartner report, they talked about overall IT spend going up by 4-4.5 per cent this year. I think there is growth. The ability of the company to take on growth is critical. I think growth opportunities are there," added Balakrishnan. He said if the world's largest economy is doing well...

Big Money Stays Away From Booming Bitcoin

23Oct By reutersNo Comments

ANALYSIS

Big Money Stays Away From Booming Bitcoin

Bitcoin is booming, digital currency hedge funds are sprouting at the rate of two a week and the value of all cryptocurrencies has surged tenfold this year to more than $170 billion. Yet for all the hype, mainstream institutional investors are steering clear of the nascent market, taking the view that it is too lightly regulated, too volatile and too illiquid to risk investing other people’s money in. Bitcoin, the biggest and most well-known cryptocurrency, has outperformed all the world’s traditional currencies each year since 2011, except for 2014. But many investors still view it as an opaque, esoteric instrument used by gun-runners and drug-dealers on the Dark Web that should be avoided. This year, though, a flood of new hedge funds focused on cryptocurrencies has offered inst...

Microsoft Responded Quietly After Detecting Secret Database Hack In 2013

17Oct By reutersNo Comments

USA

Microsoft Responded Quietly After Detecting Secret Database Hack In 2013

Microsoft Corp’s secret internal database for tracking bugs in its own software was broken into by a highly sophisticated hacking group more than four years ago, according to five former employees, in only the second known breach of such a corporate database. The company did not disclose the extent of the attack to the public or its customers after its discovery in 2013, but the five former employees described it to Reuters in separate interviews. Microsoft declined to discuss the incident. The database contained descriptions of critical and unfixed vulnerabilities in some of the most widely used software in the world, including the Windows operating system. Spies for governments around the globe and other hackers covet such information because it shows them how to create tools for e...