Business

App Store
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Global customers reportedly spent around $1.22 billion on Apple App Store during the holiday season of 2018, hitting a single-day record with purchases worth nearly $322 million on New Year’s Day alone. On Thursday, the iPhone maker reported that spending on App Store topped $1.22 billion from Christmas Eve to New Year’s Eve. According to Phil Schiller, Senior Vice President of Apple’s Worldwide Marketing, the holiday week of 2018 has been

Bankrupt
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Despite high consumer spending that lifted economy in the United States, over a dozen of retailers filed for bankruptcy protection in 2018. Several big names of departmental stores, shoe companies, and mattress sellers have come up, CNBC news reported. Although the pace of closures have reduced from 2017 when more than 20 retailers including Toys R Us, Gymboree and Hhgregg went bust, bankrupt filings and store closures are still affecting

Huawei
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Chinese tech giant Huawei Technologies projected a 21 percent leap in 2018 revenue to $109 billion, according to its rotating chairman Guo Ping, boasting a sharp acceleration in the business growth despite heightened global scrutiny as the company struggles to relieve rising concerns about the business and product security. In New Year’s address to the employees, Mr. Ping had said that the company has signed around 26 5G contracts and

Intellectual Property
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China to allow victims of intellectual property infringements to sue for damages, state media reported on Monday, as Beijing seeks for ways to strengthen its intellectual Property protection framework, with US demanding for action on the issue. According to Xinhua news agency reports, a draft law – under which the victims can file for ‘punitive damages’ – was presented at a meeting of the Standing Committee of the National People’s

Box Office
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In record-breaking 2018, US box office sales has amounted to around $11.38 billion, as more viewers stepped into the theaters to watch blockbusters of this year, CNBC news reported. As the final week of the year is likely to be the busy time for moviegoers, analysts estimate the final total amount could be as high as $11.8 billion. In particular, superhero movies dominated the box office in 2018 with more

Cryptocurrency
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Rumors have been around about the social media giant Facebook seeking to build its own cryptocurrency for WhatsApp money transfers. Bloomberg reported on Friday that the company is focusing on developing the cryptocurrency that will allow its users to transfer money through the messaging app, targeting initially on the Indian remittances market, citing people familiar with the matter. The currency will enable Indians working abroad to send money back home,

Nike
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Shares of Nike climbed 8 percent on Friday, as the company reported that product innovation and robust online sales are helping gain higher revenue in North America as well as in international markets. The company’s stock is up 16 percent this year, representing the ninth positive year in 10-year time period, CNBC news reported. Furthermore, at midday, Nike’s climb added around 38 points to Dow Jones International Average. Although Nike’s

Tunnel
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Billionaire entrepreneur Elon Musk on Tuesday gave a sneak peak of the first tunnel completed by his Boring Company’s underground transit venture, two years after he launched it to ease the traffic congestion in Los Angeles. As reported in Reuters, the grand opening did not include free rides, contrary to some of his hype few months ago. In a 30-minute live webcast presentation, Musk represented the new 1.14-mile-long tunnel segment

facebook
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In yet another blunder, social media giant Facebook has announced that an API bug allowed app developers to access private photos of around 6.8 million users. Facebook said that the bug remained active for 12 days, between September 13 and September 25. To make matters even worse, up to 1,500 apps built by 876 developers had access to images that users never authorized or uploaded but not posted. The bug

YouTube
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Google’s video platform YouTube removed 1.67 million channels along with 7.85 million videos in its third quarter this year, as company’s battle against inappropriate content rages on. The recent YouTube Community Guidelines Enforcement report came amid growing concerns about how the platform monitors and delete problematic content including hateful, graphic content and video displaying violent extremism. As reported in CNBC news, this is the fourth report YouTube has released including