American rap superstar Jay-Z has failed to translate his star-power into market dominance for his music streaming platform Tidal. In a bid to breathe new life into the platform, Sprint, which is owned by Japan’s SoftBank, said it will purchase one-third of it. Sprint, which is the fourth-largest mobile operator in the U.S., plans to distribute Tidal content exclusives for its customers. Sprint hasn’t disclosed how much it is paying for its stake in Tidal, but music industry magazine Billboard…
US ridesharing platform Uber has been hit with a whopping fine of $20m dollars - after it was discovered that the tech firm was guilty of making exaggerated claims about how much drivers could potentially earn working with the company. Uber agreed the settlement figure with the US Federal Trade Commission (FTC) who also took umbrage with Uber’s misleading message on how affordable its vehicle financing plans were. The FTC said that the global ridesharing platform’s declaration that uberX drivers…
Hewlett-Packard Enterprise (HPE), the multinational information technology company, announced on January 17 a deal to purchase – in cash – business data management firm SimpliVity for $650 million. Massachusetts-based SimpliVity, founded in 2009, sells “hyperconverged” systems that combine computing, storage and networking. The market for hyperconverged systems, according to HPE, was estimated at $2.4 billion last year and is expected to grow to almost $6 billion by the end of the year 2020. “Hyperconvergence” refers to a type of “infrastructure…
Multinational technology giants Microsoft have acquired Canadian based Artificial Intelligence start-up Maluuba. The move is seen as the latest development in the race between tech companies such as Apple, Samsung, Google and Microsoft to design and develop sophisticated connected assistants. The financial terms of the acquisition were not disclosed by Microsoft who made the announcement publicly on Friday. Maluuba are a Montreal based AI organization that are focused on making machines that are able to think the way people do.…

China’s Central Bank caused Bitcoin’s prices to plummet

Written on Thursday, 12 January 2017 08:50
Bitcoin, the decentralized cryptocurrency and a payment system, saw its prices drop recently after China’s Central Bank announced it was investigating exchange platforms trading in the online currency. Confidence in Bitcoin dropped because of fears that Beijing could be leading a crackdown on the digital currency as part of its increasing battle against money flowing overseas. The Chinese investigation into Bitcoin was announced on Wednesday, January 11. Inspection teams dispatched by the People’s Bank of China (PBoC) were sent to…
In early January 2017, Apple announced plans to invest $1 billion in Japanese telecoms giant SoftBank’s $100 billion technology venture capital fund. Apple will reportedly join a list of other expected investors which include Foxconn Technology Group and Oracle Chairman Larry Ellison. Other companies like Qualcomm have already committed to the fund. The purpose of SoftBank’s $100 billion Vision Fund is to invest in strategic areas including the Internet of Things (IoT) and artificial intelligence (AI) as part of efforts…
India’s Reliance Communications, the Internet access and telecommunications company headquartered in Mumbai, India, is selling its mobile phone tower business to Brookfield, a Canadian asset management giant, for $1.6 billion, it was reported on December 21, 2016. The deal represents the largest investment by a foreign company in Indian infrastructure, according to Reliance. Brookfield reportedly seeks to capitalize on liquidity constraints at major Indian firms. According to a report by Bloomberg, Indian companies are struggling to acquire capital as the…
The Irish Government have presented its argument that Apple does not owe 13 billion in back-taxes to Dublin, and claimed that the EU breached state sovereignty in relation to its interference in this issue. In August, the EU ruled that tech giants Apple should pay billions in back-taxes to Dublin because Ireland had granted Apple undue tax benefits. Ireland’s Department of Finance, presented a three-page submission in which it outlined its arguments. The submission read, “The Commission has exceeded its…
An offer from 21st Century Fox to buy Sky TV has sparked a major political row in the UK – as Rupert Murdoch makes his bid to reassert total control in the company. The billionaire media mogul was forced to take a step back from Sky in 2010 – following the phone hacking scandal. However, Murdoch who owns 21st Century Fox has now made a fresh offer of 18.5bn for Sky TV. The bid has seen shares in Sky TV…
Global transportation company Uber, have announced that it will purchase artificial intelligence group Geometric Intelligence in an effort to increase its research into self-driving car technology. It’s expected that the acquisition of the artificial intelligence company will form the core of Uber’s own research centre. The terms of the deal were not disclosed publicly, but it is believed that Uber will allow the fifteen employees of the New York start-up to form the base of Uber’s artificial intelligence efforts in…
On November 23, the UK’s Chancellor of the Exchequer, Philip Hammond, announced £1bn ($1.5bn) of funding to boost 5G and fiber connections in the country. Included in the Autumn Statement from Britain’s Treasury, the Chancellor said he wanted the ‘UK to be a world leader in 5G’. The UK will also be allocating £400m ($500m) for a Digital Infrastructure Investment Fund to accelerate the roll out of superfast internet. Viavi Solutions, a global provider of network test, monitoring and assurance…
American telecommunications giant Verizon has purchased the majority of assets from LQD WiFi LLC as part of its plans to fast track and accelerate its strategy to implement Smart City infrastructure across its platforms. LQD WiFi LLC is a private company based in New York and while the sum of the investment hasn’t been disclosed, it has been widely reported in some quarters to be a significant amount. Mike Lanman, senior vice president of Enterprise Products and IoT at Verizon,…
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