Thursday, 04 May 2017 10:18
Apple announce plans to invest $1bn in US companies to aid job creation
US technology leaders Apple have formally announced its intentions to create a fund of $1bn – which it will subsequently use to invest in US companies in order to boost job creation. Apple has further disclosed that it will invest the money in US companies that perform ‘advanced manufacturing’. Apple, which is headquartered in Cupertino, California, will formally disclose the recipients of the first investment in May. It’s the conglomerates latest move to indicate its efforts to boost job creation…
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Thursday, 04 May 2017 08:47
Apple faces dilemma as cash holdings surpass entire economic output of Chile
US tech giants Apple are the victims of its own incredible success, following a quarterly report which indicated its cash holdings, the vast majority of which is held overseas has surpassed the entire economic out-put of Chile. Apple’s stockpile of cash has reached a staggering $256.8 billion, and has sparked debate over what the technology leaders should do with such massive cash reserves. It has also refocused attention on the issue of the disincentives in the US tax system, which…
Monday, 17 April 2017 07:26
Arbitration panel orders Qualcomm to refund Blackberry $814.9m in royalties
US chipmaker Qualcomm has been left reeling following the decision made by an arbitration panel to award Canada’s BlackBerry a sum of $814.9m in a settlement dispute relating to royalties for certain past sales. In 2016, both companies took the decision to arbitrate the dispute which centered on Qualcomm’s agreement to cap certain royalties applied to payments made to BlackBerry under a licensing deal. US listed shares of BlackBerry have risen to around 16% at $8.94 in heavy premarket trading,…
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Thursday, 13 April 2017 05:59
AT&T to acquire firm for $1.6bn to use its mmWave spectrum for 5G
US telecoms giant AT&T said it will purchase Straight Path Communications, a spectrum license holder, for $1.6 billion. AT&T’s interest in the firm springs from the fact that it holds licenses of millimeter wave (mmWave) spectrum in the 28GHz and 39GHz bands, both of which have been approved by the Federal Communications Commission (FCC) to be used for 5G. Straight Path Communications Inc. specializes in maximizing the value of assets such as microwave bandwidth licenses and intellectual property. AT&T said…
Thursday, 30 March 2017 11:24
Vodafone NZ to purchase stake in operator TeamTalk for $7 million
Vodafone New Zealand is set to purchase 70 percent of the rural broadband and satellite section ‘Farmside’ of operator TeamTalk for NZ$10 million ($7 million). The acquisition is subject to approval by shareholders. Vodafone NZ has the option to purchase the remaining 30 percent for NZ$3 million within the next three years. TeamTalk, established in 1994, is New Zealand’s leading mobile radio company, with its main focus on digital trunking communication services. New Zealand telecom operator Spark announced plans to…
Wednesday, 29 March 2017 09:07
Bharti Airtel sells stake in its tower unit Infratel for $952 million
Indian telco Bharti Airtel has sold 10 percent of its tower unit Infratel $952 million to a consortium of investors in a bid to reduce its debt pile. The investors are led by private equity firm KKR and the Canada Pension Plan Investment Board. There were rumors circulating that the buyers wanted to acquire a “significant” stake in Infratel during October 2016 after Airtel’s board went forward with plans to sell off a proportion of the unit. New reports emerged…
Tuesday, 28 March 2017 07:12
BT fined $53 million by regulator for failing to meet wholesale commitments
British telecoms giant BT has been fined 42 million pounds ($53 million) by the regulator Ofcom for failing to deliver on contracts with telecoms providers and also failing to pay the required level of compensation for delays in Ethernet installations. The error is estimated to cost the company around 300 million pounds in compensation, according to reports. BT was supposed to pay compensation for delays outside its contracted Ethernet installation time of 30 working days, according to Ofcom’s regulations. There…
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Thursday, 23 March 2017 12:24
Amazon to purchase e-commerce site Souq.com after previously backing away
Reports indicate that Amazon is renewing talks to purchase UAE e-commerce site Souq.com for as much as $650 million after discussions stalled in January due to a disagreement over the price. Other firms that sought to purchase Souq.com included mall operator Majid Al Futtain. Souq.com accounts for about 78 percent of e-commerce in the Middle East and North Africa, which means all of its coverage, will soon be a part of Amazon’s portfolio. According to Reuters, Amazon had agreed to…
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Tuesday, 14 March 2017 06:54
Home-sharing startup Airbnb now valued at $31 billion
Home-sharing startup Airbnb founded in 2008 raised over a billion dollars in a fresh funding round that valued the company at $31 billion. According to a filing with the US Securities and Exchange Commission, Airbnb added $448 million to the $555 million in funding it took last year. Airbnb became profitable at during the second half of 2016 before accounting interest, tax, depreciation and amortization, a source explained to AFP. The new funding valued the company at $31 billion, and…
Tuesday, 14 March 2017 04:59
US chip giant Intel to purchase Israel's Mobileye for $15 billion
US computer chip giant Intel announced on March 13 its plans to purchase Israeli technology firm Mobileye for over $15 billion. The deal is the largest ever cross-border acquisition for an Israeli technology firm, according to Israeli media. The two firms have already collaborated with German automaker BMW to develop autonomous vehicles. "The combination is expected to accelerate innovation for the automotive industry and position Intel as a leading technology provider in the fast-growing market for highly and fully autonomous…
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Thursday, 09 March 2017 07:17
ZTE forecasts loss of $343m in 2016 - following settlement with US government
ZTE has suffered fresh woe just hours after it disclosed details of its settlement with the US government in which it was found guilty of breaching US export control rules in North Korea and Iran from 2010 - 2016. The Chinese vendor released its forecasted loss for 2016 - and it makes grim reading for stakeholders - ZTE have forecast a loss of $343m for 2016. The latest financial announcement comes hot on the heels of US Justice, Commerce and…
Tuesday, 07 March 2017 07:03
South Africa’s MTN reports $200 million loss; blames Nigeria fine
South African telecoms giant MTN reported its first loss recently blaming the huge fine it was given in Nigeria and also currency challenges in key markets. In a statement the company said, "MTN Group's financial results for 2016 reflect the most challenging year in the company's 22-year history." The Johannesburg-based telco reported profits of 20.2 billion rand ($1.6 billion) before tax. MTN's performance was greatly affected by lower than expected growth in South Africa and Nigeria, as well as the…
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