Tag - Citigroup
Apple is engaging in an "aggressive expansion" into the enterprise market, Reuters reports. Sources tell the newswire agency that Apple has hired dedicated sales teams to talk with clients such as Citigroup. Apple is, moreover, said to be working in conjunction with "a dozen or so" developers -- such as ServiceMax and PlanGrid, which develop apps for managing field technicians and sharing construction blueprints, respectively. Apple is reportedly in talks to bring other developers into formal partnerships.
In preparation for its mobile payment technology, Apple has successfully negotiated deals with five major financial institutions -- American Express, JP Morgan Chase, Citigroup, Capital One, and Bank of America -- to lower transaction fees, sources say. One linchpin was convincing them that mobile payments constitute "card present" transactions, which have a lower discount rate than their opposite, owing to lower fraud risk. That card-present rate has been dropped another 15 to 25 basis points however, meaning that Apple should get a roughly 10 percent discount on processing rates.
Analysts at Citigroup and Piper Jaffray helped trigger stock market jitters on Thursday over the implications of LTE chip supply as it relates to Apple. Following Qualcomm statements after its quarterly results that there was a supply shortage of its 28 nanometer chips made at TSMC, Citi's Glen Yeung and Piper's Gene Munster both suggested that was a direct sign of Apple choosing a 28nm MSM9615 cellular chipset for its next iPhone. To Yeung, a ramp down in existing 45nm parts combined with the shortage was a sign Apple was switching production and lowering orders of older hardware as it got ready to produce the new.
Kodak is drafting Chapter 11 bankruptcy filings in the event it can't sell patents in the next few weeks, insiders asserted Wednesday. The proposed plan seen by the Wall Street Journal would see the camera legend possibly enter bankruptcy later this month or in early February. The reorganization would see it get $1 billion of debtor-in-possession funding and sell its entire library of 1,100 patents through a bankruptcy auction rather than a typical process.
Saudi Prince Alwaleed bin Talal has bought a just under four percent interest in social networking pioneer Twitter. Prince Alwaleed, 26th on Forbes' list of billionaires, is the nephew of Saudi King Abdullah. The Prince paid out $300 million for his investment.
HTC on Tuesday was confirmed to have sued Citi Global Markets for allegedly misrepresenting the company's already dim outlook. Deputy chief prosecutor Huang Mou-hsin told Reuters that the smartphone designer had quietly sued in August for allegedly breaking a stock transaction law after HTC's share price collapsed. Its price has been cut to a third of its April value, down to the equivalent of just over $13.
(Update: confirmed) Citigroup is splitting EMI in two for a sale that's about to be imminent, according to claims Friday. Pointing to sources, the Wall Street Journal's Dana Cimilluca said that the publishing wing, EMI Music Publishing, would be sold off to a Sony consortium for $2.2 billion. The pure music label would go to Universal for $1.9 billion.
A new study by Citigroup analyst Mark Mahaney reinforced Netflix's dominance of online video. The online check had Netflix representing 24.5 percent of online video, ahead of Hulu (22.5 percent) and just short of Facebook (27.1 percent). iTunes was the top pay-per-show provider but was well short in use at just 9.8 percent of those asked online.
HTC on Monday shot down rumors mentioned by the Economic Daily Times and other outlets that Microsoft was raising the patent fees it was getting from Android makers. Following a Citi analyst report leaking royalty rates which showed HTC paying less than others, claims had surfaced in the Taiwanese press that HTC was about to pay more. Those aren't true, HTC said.
Hints that Microsoft might add NFC to Windows Phone 7 gained corroboration Tuesday with a pair of tips from insiders. The feature would be used for the expected role of mobile payments and would have the feature baked into the OS itself. NFC may come early, however; it could be in shipping devices before the end of 2011, Bloomberg was told.
Now AAPL Stock: 92.04 ( -1.36 )
French show carries on with iPhones
Following a prolonged power loss in a French TV studio, the crew was able to use a combination of limited studio lighting and a number of iPhones to continue taping the Saturday episode of talk show On n'est pas couché ("We're Still Awake"), using the resulting footage in the first edited episode. The Plus-model iPhones used for the impromptu shoot completion were either iPhone 6 Plusses (which shoot in 1080p) or 6s Plus models (which can shoot in 4K). The decision to use the iPhones to complete the show was made after a power outage at France 2's studio stretched to more than three hours. http://bit.ly/299wqDt
Scrivener for iOS to arrive in late July
For some long-time Scrivener users, to quote Paul Simon, "these are the days of miracle and wonders." As it marks its 10th anniversary in business, developer Keith Blount has announced that the long-awaited iOS version of his creative-writing tool Scrivener is to be submitted to the App Store, following strong praise from beta-testers. The program, expected in late July, will sell for $20 and work with both the iPad and iPhone. When we interviewed Blount last January, he added that Scrivener 3 for Mac would follow along shorty afterwards. http://bit.ly/2901XLE
WhatsApp now handles over 100M calls daily
WhatsApp is celebrating that it is being used for over 100 million calls every day. In a brief notice, the Facebook-owned messaging platform advises the voice-calling feature it rolled out to its users last year now deals with an average of over 1,100 calls initiated per second. Earlier this year, it increased the security of its calls and other messages, by introducing end-to-end encryption on all platforms. http://bit.ly/292HqCX
Adele's '25' album now streaming
Recording artist Adele has "pulled a Kanye" after saying that her current album "25" would not be available for streaming. The seven-month-old record, which has yielded a number of hit singles, is now available for streaming on all the major streaming services, such as Apple Music and Spotify, as of today in most major markets, with worldwide distribution to come. Reportedly, the singer had demanded streaming be limited to paid subscribers -- a condition that has hurt some streamers with artists, who aren't paid royalties for free or trial listens . Apple pays performers its normal royalty rates during its free trial, avoiding the issue -- and having repeated success in both signing up exclusives and placing those exclusives into the top of the charts. http://ti.me/28U7NOu
SanDisk iXpand case has battery, storage
A new iPhone 6 and iPhone 6s case from SanDisk appears to be the "holy grail" of accessories: a stylish and protective case that offers both extra storage as well as the option of extra battery power as well. The iXpand Memory case offers either 32GB, 64GB, or 128GB of additional storage incorporated into the case, and an optional add-on battery pack (sold separately) adds up to an extra day or more of charge. Through the associated iXpand app, camera photos and videos can be automatically stored on the extra storage, optionally password-protected, The cost for the case is (in order of storage capacity) $60, $100, and $130. The battery pack's release data has not yet been announced, but the add-on should retail for an additional $30. http://bit.ly/291epHu
Fifth Hong Kong store to open June 30
The 46th official Apple store in what the company calls the "Greater China" region will open at 10AM local time in Hong Kong's New Town Plaza in the Sha Tin district on Thursday, June 30, according to a new page on Apple's retail website. Despite slowing growth due to economic turmoil in China, the country is still Apple's fastest-growing market. The new story will be the fifth for Hong Kong, a lucrative market for Apple thanks to the high concentration of wealth there and a thriving "gray" market. Normal store hours for the new store will be 10AM to 10PM every day. http://apple.co/291diaT
Apple Music bug bites very short songs
There appears to be a reproducible bug in the current version of iTunes -- version 12.4.1, running on OS X 10.11.5, both the current non-beta versions of the respective software -- that causes a streamed song to become "stuck" in endless buffering if the streamed item just before this happened was 60 seconds or less in length. The problem appears to stem from code in iTunes that signals the next track to start downloading one minute before the currently-playing track is done, and thus songs shorter than one minute don't trigger the download. Locally-stored music is unaffected by the bug, and the problem does not appear to exist in either the macOS Sierra developer beta or versions of iTunes earlier than 12.4, and does not affect the iOS Music app at all. http://bit.ly/291cN0l