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SZ DJI Technology Co. eying valuation at US$10 billion

SZ DJI Technology Co. eying valuation at US$10 billion

The world's most innovative drone maker based in China, SZ DJI Technology Co., could be worth $10 billion.

The DJI Technology company is in the process to raise money from investors at a $10 billion valuation. The firm offers professional quality machines to consumers for around $1,000.

If it becomes successful to raise the money, its valuation would propel it into the ranks of elite tech startups. The drones of Shenzhen-based company are designed with four propellers and are easy for beginners to control.

Metro’s new railcars roll out at Franconia-Springfield station

Metro’s new railcars roll out at Franconia-Springfield station

According to Metro, its new railcars started operating on the Blue Line on Tuesday. According to officials, eight out of the system's first 7000-series rolled out at the Franconia-Springfield station. Metro said that these new cars are better from safety point of view and have better performance in crash tests than previous models.

According to Metro Board Chair Mort Downey, safety is their priority and investment in their railcar fleet indicates that. As per Downey, the 7000-series cars are symbol of a considerable improvement in reliability, safety and rider comfort. Downey added that he is excited to welcome their customers aboard on behalf of the Metro Board of Directors.

Twitter shares rise by 4% amid rumors regarding its acquisition

Twitter shares rise by 4% amid rumors regarding its acquisition

After rumors of acquisition of social network Twitter, the company stock gained nearly 4%. Earlier also, it was said that Twitter could be a target for acquisition. Some talked about the acquisition of the company by Google.

Twitter stock has gained over 46% for the year so far, moving slowly close to a 51-week high for the tech company.

On Tuesday, many shares of the company were trading hands on, and a volume of 30 million shares has been registered compared to the average of 18 million shares per day.

This year, there are options for growth of Twitter stock for April month. It has been suggested by the CBOE that Twitter is one of the firms whose options were increasing in volume in Tuesday market.

Samsung Posts Strong Quarterly Profit

Samsung Posts Market-Beating Quarterly Profit

Samsung Electronics on Tuesday posted a strong quarterly profit on growing demand for memory chips and displays. The tech giant in a regulatory filing said that its operating profit increased 11.5 % quarter-on-quarter to 5.9 trillion won ($5.44 billion) in the January-March period. The profit represented a 30.5% drop from a year earlier.

The first-quarterly operating profit of the company was far above the median market forecast of 5.47 trillion won among South Korea's 21 brokerage houses.

Total sales at Samsung were estimated to be at 47 trillion won from the period of January to March. Sales were 12.44% less from a year earlier and were down 10.87% from the previous three-month period.

Pilot Program to help Millions of Americans to have Easier Access to Credit

Pilot Program to help Millions of Americans to have Easier Access to Credit

Fair Issac, the company that provides credit scores, is coming up with a new score especially for those who currently do not have the same. The program will be rolled out in next few months making it easier to get a Visa or MasterCard.

On Thursday, FICO announced that it will launch a pilot program to help a number of Americans to have an easy access to credit. Basis of the same will the record of paying utility bills and not the history of loan repayments.

It is estimated that the reach of the program will be massive. It has been said so as around 53 million Americans do not have FICO scores created by the company Fair Isaac. It is vital as 90% of the lending decisions are based on that score.

Pinterest Turns Five

Pinterest Turns Five

Pinterest, the web and mobile application company, last week celebrated its fifth anniversary. In its short five years of life so far, Pinterest has become a hub where the brides-to-be create their wish boards and do-it-yourself home renovators bookmark shiny turquoise tiles for bathrooms.

The website has offered a new way of searching for items. Users can upload, save, sort, and manage images, known as pins, including other media content.

It acts as a personalized media platform, where users can browse the content of others on the main page.

The San Francisco-based venture capital was recently valued at $11 billion. Although the websites core audience has always been female, but Pinterest says its popularity is growing faster than ever among men.

Group of Pacific Residents Want Help of City to Get Answers from FEMA over Flood Insurance Issues

Group of Pacific Residents Want Help of City to Get Answers from FEMA

A group of Pacific residents need city’s help in order to get answers from FEMA that why some homeowners in the floodplain need to buy flood insurance.

Half a dozen residents on the north side of Pacific attended the March 25 operations committee meeting. There is no need to buy flood insurance for homes that are fully paid for and have no mortgage.

“You’re only affected if you have a loan on your home”, said Kay LeClaire, who spearheaded the search for more information.

IBM plans to build $3B Internet of Things unit

IBM plans to build $3B Internet of Things unit

On Tuesday, IBM said that it is going to invest $3 billion over a period of four years to build a new Internet of Things unit.

The move has formalized IBM's existing Internet of Things efforts, as IBM's smarter-planet and smarter-cities businesses are linked to the Internet of Things trend.

The Internet of Things is based on a rough idea that the sensors will be embedded in everything and will be networked to create data. This flow of data could be helpful in the improvement of the operations.

The Internet of Things unit formation follows a familiar playbook in the case of IBM. It targets a high-value growth area, invests at least a $1 billion to get the effort rolling and throws its hardware, software and consultants at the issue.

Huawei Net Profit increases by 32.7% in 2014

Huawei Net Profit increases by 32.7% in 2014

Huawei Technologies Ltd., one of the world's biggest makers of telecommunications equipment, said on Tuesday that its profit for 2014 grew 32.7%.

The Chinese multinational also reported a net profit of $4.5 billion. Revenue of the company rose 20.6% to $ 46.5 billion last year.

The Shenzhen-based company its sales are expected to grow by 10% for the next three to five years, as it continues to expand internationally.

In total its China sales grew 31.5% to 108.9 billion yuan, or 37.8% of its revenues. On the other hand its sales in Europe Middle east and Africa increased 35% to 101 billion yuan.

Chief Executive Ren Zhengfei in January at the World Economic Forum in Davos said that the company is looking forward to Europe for future growth.

Philips to Sell 80.1% Stake in Lighting Components Division to Go Scale Capital

Philips to Sell 80.1% Stake in Lighting Components Division to Go Scale Capital

Philips, the Netherlands-based consumer electronics firm, said on Tuesday that it has finally decided to sell an 80.1% stake in the lighting components division for $2.8 billion to Go Scale Capital.

Go Scale Capital is a new investment fund that focuses on LEDs and electric car battery technology.

Amsterdam-headquartered company said that the deal values the subsidiary, which comprises an automotive light unit and Philips' 'Lumileds' LED business, at $3.3 billion in cash and debt.

This division of the company reported a profit of nearly 141 million euros in 2014 on sales of 1.42 billion.

Go Scale, which also has other investments in LEDs and electric car battery technology, said in a statement that it aims at expanding the businesses of using LEDs in cars.

FTC defends Decision not to Pursue Competition Charges against Google

FTC defends Decision not to Pursue Competition Charges against Google

President Barack Obama and Google top-notch officials were meeting on regular basis, revealed visitor logs. As per the logs, Google officials have met White House officers once a week for the last four years.

Since the time President Obama was first elected, high-profile search giant staff including Chairman Eric Schmidt has met with President Barack Obama's White House 230 terms, revealed the log obtained by the Wall Street Journal.

US Government Proposes New Definition of Farms

US Government Proposes New Definition of Farms

The U.S. Government is revising its definition of a farm. As per the new definition, some people who receive farm subsidies but do not carry out any sort of work would receive less government money.

Congress last year assigned the Agriculture Department a task of creating a new definition for what it means to be 'actively engaged' in farming, a criteria to receive subsidy.

USDA on Tuesday proposed that farms must document their managers and must put in 500 hours of substantial management work annually or 25% of the time necessary for the success of the farming operation to qualify.

Agriculture Secretary Tom Vilsack said, "We want to make sure that farm program payments are going to the farmers and farm families that they are intended to help".

Vessel opens its doors to public

Vessel opens its doors to public

Vessel, the new online video subscription service built by former Hulu boss Jason Kilar, was launched Tuesday. The new service provides early access to videos from YouTube stars through a monthly subscription fee. People who are willing to pay $2.99 per month will get content from popular YouTube stars 72 hours before public launch.

The service in private beta debuted Tuesday and is available to everyone on both web and iOS. Anyone who signs up with Vessel by 3am EDT Friday will receive a one-year subscription for free.

Consumers now watch more video on mobile devices, and YouTube has become the definite leader to deliver the service.

North Dakota attracts Drone Manufacturers

North Dakota attracts Drone Manufacturers

Air Force bombers aren’t flying over the Grand Forks Air Force Base anymore, but a buzz is being created by drones, say backers of the first unmanned aircraft business park in the US. The Grand Sky grounds will start witnessing the construction during May.

U.S.-based and international companies have already started applying for position in the 1.2 million-square-foot park, which is near the former alert pad where bombers and tankers were poised for takeoff on a moment's notice.

Testing of unmanned aircraft in North Dakota makes it one of six sites to do so. Research is on to develop drones for a wide range of applications, like farming, law enforcement, energy, infrastructure management, public safety, coastal security, military training, search and rescue and disaster response.

Alibaba to introduce ‘Smile to pay’ technology that will allow users to pay using Selfie

Alibaba to introduce ‘Smile to pay’ technology that will allow users to pay

A mobile purchase security system is being developed by Chinese e-commerce merchant Alibaba. The security system would authenticate payments by matching a photo taken by the user at the time of purchase with one stored on their smartphone.

The technology is currently being tested by Ant Financial, an Alibaba affiliate that runs the Alipay payment service, which is China's largest online and mobile payments service.

Apart from the new selfie-based payment scheme, Ant Financial is also developing another voice-command activated verification method before purchasing online.

The facial-recognition payment system called 'Smile to Pay' was demonstrated by Jack Ma, founder and CEO of Alibaba Group Holdings, at the CeBIT 2015 conference in Germany this week.

Apple is working on an online TV service

Apple is working on an online TV service

Consumer electronics company Apple could soon launch an online TV service. The Apple TV set is coming and that rumor has been revived once again with the report that the company is working on an online TV service.

According to Brian White, an analyst with the investment bank of Cantor Fitzgerald, the imminent coming of a TV set from the company has taken on the mythical status of attempting to spot a 'golden-horned unicorn' in the forest.

"We believe a potential streaming TV service and offerings such as HBO NOW pave the path for even bigger ambitions for Apple with a full blown TV that allows the company to completely control the user experience", White wrote in a note to investors.

FTC did not sue Google to avoid a tough case

FTC did not sue Google to avoid a tough case

According to The Wall Street Journal, FTC staff was aware that Google has misused its dominant position in the market and it has used it for anti-competitive decisions. The report mentioned that experts at a federal regulatory agency concluded this in 2012 but still no further inquiry was conducted.

However, Google ignored a big antitrust fight since the Federal Trade Commission (FTC) didn't precede a legal action it on basis of those findings. In 2013, the FTC concluded a two-year investigation into the company's online monopoly power.

Cher Wang is new CEO of HTC

Cher Wang is new CEO of HTC

In a management reshuffle, HTC Chairwoman and co-founder Cher Wang has been stepped up as the company's new chief executive. The announcement came on Friday.

The Taiwanese electronics maker, in a press release, said that Cher Wang, Chairman and co-founder of HTC, is replacing Peter Chou. Now, Chou will be getting a "strategic" position in product development as the leader of HTC's Future Development Lab.

According to the company, in the last two years, Chou's main attention was on product development, while he handled over more of his chief executive responsibilities to Wang.

The company said that both the board of directors and executive team has decided that the time has come to formalize and finalize the changes in corporate position.

Sharp is eyeing to cut 6,000 jobs this year

Sharp is eyeing to cut 6,000 jobs this year

Japanese consumer electronics company Sharp is again planning to lay off employees both at home and abroad divisions as the firm witnessed more losses in the fiscal year ending March 31.

According to Japan's Nikkei newspaper, the electronics giant would cut around 6,000 jobs, half of which would be in Japan through early retirement while the rest would be overseas, especially in the US.

The report about layoffs came as Sharp was expected to post a net loss of 200 billion yen ($1.65 billion) for the current financial year that will end this month. This would be the third annual loss in four years on the back of price competition with Chinese and South Korea rivals.

Apple to Join 29 other Dow Jones Industrial Average stocks

Apple to Join 29 other Dow Jones Industrial Average stocks

Technology gaint Apple will join Dow Jones Industrial Average (DJIA) stocks after the close of trading March 18. The maker of iPhone and iPad will replace AT&T, which is a Dow member for nearly 100 years.

DJIA, which is also called Dow 30, is a stock market index and one of several indices created by Wall Street Journal editor and Dow Jones & Company co-founder Charles Dow.

The index was created in 1896 and is based on the share prices of the 30 companies in the average. Since DJIA comprises only 30 firms, the change of just one or two components in the index can make a major difference in the metrics for the entire index.




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