Just when we thought the AT&T–Time Warner merger was finally a done deal after a district court judge ruled in its favor last month, it seems not everyone wants to accept its terms. The Justice Department has filed to appeal the approval, according to a court document spotted by CNBC, which could reverse the deal if the DOJ wins. Continue reading Justice Department appeals approval of Time Warner-AT&T merger
In a patent case that has been running since 2011, today a jury ruled that Samsung owes Apple $539 million in total. In 2012 Apple was awarded nearly $1 billion in damages, and Samsung agreed to pay as much as $548 million, but after the verdict was thrown out by the Supreme Court, we ended up in a retrial with hundreds of millions at stake. Samsung has already paid Apple some $399 million over these patents, and in a statement an Apple spokesperson said: Continue reading Jury rules Samsung owes Apple $539 million in iPhone patent trial
It’s been a long road for Spotify in terms of going public, but now that day is here. The company is now public; it took the unusual step of pursuing a direct listing, rather than the more traditional IPO. Shares were set at a price of $132 by the New York Stock Exchange late Monday, according to Reuters. That gives Spotify a value of over $23 billion.
If only a good idea and a bit of luck were all you needed to launch a successful startup. The reality is that it takes a lot more. Timing, competition, and future market conditions can make or break a business. So if you want yours to still be around in a year–or 10–it’s vital to know which industries are ripe for innovation and new entrants. Continue reading The Hottest Sectors for Launching a Business in 2018
Today the US Commodity Futures Trading Commission announced that it has filed a federal civil enforcement action against three virtual currency operators. The details of one case remain sealed, but the other two companies facing charges are CabbageTech and Entrepreneurs Headquarters Ltd. The charges include fraud, misrepresentation, misappropriation and more, and are the first enforcement actions since the CFTC allowed trading bitcoin futures.
SoftBank has more than just a large stake in Uber — it’ll soon have some direct control as well. Recode sources understand that Sprint CEO Marcelo Claure is taking one of SoftBank’s two slots on Uber’s board of directors in the “next few weeks.” The other slot is reportedly slated to go to Rajeev Misra, the leader of the SoftBank Vision Fund that took charge of the Uber deal. Neither Uber nor SoftBank has commented on the apparent scoop.
Just how much money do tech companies shelter from taxes? Quite a lot, according to the Dutch. Newly published Netherlands regulatory filings show that Google shielded €15.9 billion (about $19.2 billion) in 2016 using the popular “Dutch Sandwich” tax trick, saving it about $3.7 billion in taxes. The maneuver involves shifting revenue from an Irish subsidiary to a Dutch firm with no staff, and promptly moving the funds to a Bermuda mailbox owned by another Ireland-listed company. And this practice isn’t slowing down — Google moved 7 percent more cash through this approach in 2016 than it did a year earlier.