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Business

More than 100 startups eye floating pirate city outside Silicon Valley

May 7th, 2012

More than 100 international technology companies have interest in becoming residents of a floating city located in international waters outside of Silicon Valley. The project, called Blueseed, was co-founded by Max Marty and Dario Mutabdzija and lead by venture capitalist and PayPal co-founder Peter Thiel. The company is looking to either convert a cruise ship or …

Microsoft hires 14 Yahoo researchers for new NYC lab

May 3rd, 2012

Microsoft has hired 14 Yahoo researchers for its brand new New York research lab, AllThingsD reported. The hires come after Yahoo made significant layoffs last month to its research and development unit. According to Jennifer Chayes, who manages Microsoft Research in New England and New York, the researchers were’t hired as a package deal. “I …

Nokia breaks ground on new manufacturing facility in Vietnam

April 23rd, 2012

As previously reported, Nokia on Monday held a groundbreaking ceremony that kicked-off development of the company’s first manufacturing facility in Vietnam. The new plant is located in Vietnam-Singapore Industrial Park in Bac Ninh province and is beng developed on 42 acres of land. Nokia plans to open the factory in early 2013 and create as …

Megaupload was working on IPO prior to shutdown

April 17th, 2012

Before Megaupload was shut down by the United States government, the company was preparing to go public and enter the U.S. stock market with a multi-billion dollar initial public offering, TorrentFreak reported on Tuesday. Megaupload was reportedly having discussions with top auditors and several of the world’s largest investments banks, however these plans ended abruptly …

Nokia to announce its first manufacturing plant in Vietnam on April 23rd

April 16th, 2012

Over the last few months, Nokia has closed scaled back several of its Western factories and shed over 3,000 employees in a recent effort to cut costs. The Finnish handset maker will shift its manufacturing business to Asia and is planning to build a plant in Vietnam, a move that is expected to cost some $300 million …

Netflix paid $1 million for a recommendation algorithm it never used

April 13th, 2012

Netflix in 2006 held an open competition to find the collaborative filtering algorithm that would best predict whether or not a user would like a particular film or TV show based on previous ratings. The grand prize of $1 million was awarded to a team called “BellKor’s Pragmatic Chaos” in 2009. The team’s algorithm was …

Following Apple dividend, Google shareholders seek the same

April 12th, 2012

A number of Google shareholders are asking for the Internet giant to follow in Apple’s footsteps and return part of its $44.6 billion in cash to investors, Bloomberg reported on Thursday. Google has more cash as a percentage of market value than five of its largest competitors, including Apple. The iPhone maker recently reinstated a …

AT&T fails to reach terms with workers union

April 10th, 2012

AT&T was unable to reach a settlement with the Communications Workers of America by the April 7th deadline to extend Four Core Wireline contracts. More than 40,000 employees will continue to work under the terms of the expired contract, however, as negotiations between the two parties continue. “The ongoing negotiation reflects the spirit of the …

Sony to cut approximately 10,000 jobs

April 9th, 2012

Sony will reportedly cut 10,000 jobs, or roughly 6% of its global workforce, in an effort to bring the electronics giant back to profit, Nikkei reported on Monday. The majority of the layoffs will apparently come from consolidating the company’s chemicals and small and mid-size LCD operations, and are expected to be made over the …