Tag - Citi
Citigroup has agreed to a settlement with Apple, where it will pay the Cupertino manufacturer a $30 million fine after Citigroup analyst Kevin Chang improperly distributed confidential research about an Apple supplier. The unpublished research detailed Hon Hai Precision Industry's iPhone 4, 4S and 5 component orders to Citadel, GLG Partners, SAC, and T. Rowe Price. Citigroup's research included incorrect information about iPhone orders in the first quarter of 2013, which induced SAC, Citadel, and T. Rowe Price to sell a large quantity of Apple stock, depressing the price.
A new Citi Investment Research study from analyst Mike Mahaney points to Netflix still increasing its share of Internet movie and TV viewing. Between May and December, Netflix's share of those watching movies on TV grew from 20 to 27 percent. Most of that came at the expense of Hulu, which was down from 19 percent to 15.
As hinted earlier, Google Wallet on Monday went active for real users. The service in starting off will still work on just Citi MasterCards and the virtual Google Prepaid Card, but is now opening to rival cards. American Express, Discover, and Visa are all making their NFC specs available to let banks add the cards to the mobile payment system.
Google is finally expected to switch on Google Wallet on Monday after unveiling it four months earlier. Partners are receiving a notice telling them that the NFC (near-field communications) tap-to-pay service will be ready to use anywhere a MasterCard PayPass terminal is active. Although a few NFC-aware phones have launched since, TechCrunch understood that the Nexus S 4G running Android 2.3.4 would still be the only phone to support it at first.
Google at its New York City event launched Google Wallet as the first major NFC mobile payment system in the US. The platform revolves around the concept of virtual cards, including a Google Prepaid Card, that lets users pay at a store just by bringing the phone close to a terminal. It ties in directly with Google Offers and can give offers based on the phone's location, deals pushed from the web, and NFC tags built into posters and other ads.
Isis on Monday night set out a timetable for testing its NFC payment system. It now plans to start a trial in early-to-mid 2012 in Salt Lake City. The experiment will cover both paying for goods at stores as well as paying for UTA buses and trains.
Large-scale e-mail marketer Epsilon warned this weekend that at least 14 major companies had their e-mail lists compromised through a security hack. TiVo, as well as banks like Capital One, Citi, and JPMorgan Chase, warned that their customers could be targeted by phishing attempts or anything else that relies on knowing an e-mail address. The affected group stressed that they didn't have any other personally identifying data besides names, although rewards programs from Marriott and Ritz-Carleton also exposed point balances.
Citi Investment Research sparked a reaction in the market today by predicting that Sprint and T-Mobile will merge before the end of 2010. Company analyst Michael Rollins in a note increased the odds of a deal to 55 percent as Sprint may not consider its job cuts and cellphone business improvements enough to offset widening losses. It could change its mind in the first half of the year if any service changes in the winter don't bear fruit, Rollins explained.
Palm could push as many as 1.5 million units of its Pre smartphone in a year, according to an investment note by Citi analyst Jim Suva. The researcher has upgraded the company's stock rating from "sell" to "hold" based on the technical abilities of the device, which has a more modern operating system than existing Palm phones and is also the company's first large touchscreen phone. The phone is seen as a direct factor in soften Palm's mounting losses and bringing its sales back up.
Now AAPL Stock: 94.47 ( + 0.83 )
WaterField cycling ride pouches
WaterField's new cycling ride pouches are custom-fit to carry both in one compact kit and are ready for the summer cycling season. The Cycling Ride Pouch includes a clear window that allows basic phone access with the phone still safely within the case, and the Cycling Club Pouch incorporates a padded phone pocket to separate up to an iPhone 6 Plus-sized phone from the tool compartment. Both handsome pouches fit neatly in a back jersey pocket, with optimized surface area for comfort. The Cycling Ride Pouch sells for $80, with the Club Pouch retailing for $50. http://bit.ly/1rRqN4e
Dish providing on-site iPhone repair services
Dish has expanded into the iPhone repair industry. Available today, the satellite television company's "Smart Phone Repair" routes a technician directly to a customer's door. DISH's network of technicians in all 50 states will repair cracked screens and replace batteries on Apple's iPhone 5, 5c, 5s, 6 and 6 Plus. In the coming months, the company intends to expand its service to include additional devices and smartphone accessories. http://bit.ly/1SLaDiW
India rejects Apple's refurb request
Apple's request to the Indian government to be allowed to sell refurbished iPhones has been rejected, a move that will hurt the company's efforts to attract budget-oriented consumers. Opposition to the importation of refurbished iPhones is said to have been led by local smartphone makers (and, it should be noted, Samsung), who feared that lower-cost iPhones would undermine the government's own mandates on manufacturing phones in India, and trigger a flood of used electronics into the marketplace, driving prices generally downward. Currently, Apple has just two percent of the smartphone market there, and is also applying to the government for permission to open directly-controlled Apple Stores. That decision is still pending. http://bloom.bg/1rRgi0I
Amazon Prime Now available via website
Amazon's Prime Now rapid delivery service is now available to use from the web, giving users an alternative to using the normal mobile app. Available as a free option for Prime subscribers in certain areas, the web-based service continues to offer the same selection of goods as the mobile version, and is still free for deliveries within two hours, $8 for within one hour. http://amzn.to/1UvqYgi
SoundCloud Go expands to UK, Ireland
SoundCloud has expanded its subscription service to the United Kingdom and Ireland, its first expansion since launching in the United States in late March. Priced at £10 ($14) per month, SoundCloud Go lets users listen to existing tracks ad-free, as well as complete access to licensed music from major record labels, and the ability to download tracks for offline listening. http://bit.ly/1rhBv35
Maps adds transit for Rio Olympics
On Monday, Apple added public transit directions for Rio de Janeiro in Brazil to its Apple Maps program in advance of the 2016 Summer Olympics, which begin on August 5. The addition marks the first time a Brazilian city has gotten the upgraded public transit maps, which include station maps as well as transit schedules and tracking. The transit directions cover ferries as well as bus, subway, and light rail lines. The company has recently expanded transit directions to Montreal in Canada, and Seattle, Portand (Oregon), and other US cities.
Ive opens Met Gala fundraiser in NYC
On Monday, Apple SVP of Design Sir Jonathan Ive opened the press preview of the annual Met Gala fundraiser for the Metropolitan Museum of Art's Costume Institute in New York City. Ive is serving as co-chair with Vogue editor Anna Wintour, and Apple is helping sponsor the event, which is themed "Manus x Machina: Fashion in an Age of Technology." He said the company is "thrilled" to participate in the Gala, and tied the company to the theme by saying that Apple's goal "has always been to try to create objects as beautiful as they are functional," adding that the company is "only starting" on its path of making products "more personal." http://bit.ly/1Y3EHKg