Email Updated December 12, 2017 10:32:20 Photo: Shazam chief executive Rich Riley in 2015. (Reuters: Gustau Nacarino) Related Story: Apple confirms Shazam takeover deal, Wall Street lifts on energy and tech Map: United States Apple has confirmed it's reached a deal to buy Shazam, the UK-based app that lets people use the microphone on their mobile to identify songs.No price has been given for the acquisition, but technology news website TechCrunch reported on Friday that a deal could be worth as much as $US400 million ($531.1 million).However, that's far short of the most recent $1 billion valuation for the privately held company.Apple said Shazam would be a "natural fit" with its Apple Music streaming service and it would help users discover new songs.Apple Music has 27 million users and competes against Spotify, which has 60 million users.Apple said Shazam's team would be joining its company.In a statement, Apple spokesman Tom Neumayr said Shazam "is used by hundreds of … [Read more...] about Apple is buying Shazam for half a billion dollars
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Daiichi Sankyo’s ongoing contempt case against former Fortis Healthcare promoters Malvinder and Shivinder Singh in the Supreme Court has once again highlighted the brothers’ financial woes. Once leaders of a flourishing, billion-dollar empire, the Singhs now seem to be struggling to pay a $500-million arbitration award to Daiichi for allegedly concealing information regarding wrongdoing at Ranbaxy, sold to the Japanese drug maker in 2008. The apex court last week reserved its verdict on whether the Singhs violated its 2017 orders not to part with unencumbered Fortis shares, earlier expected to be used to help pay this award. The case took a darker turn last year, when allegations of illegal diversion of the Singhs’ funds surfaced, some even by the brothers against each other. Yet, the question still remains—where did the money go? Singh vs Singh Lawyers for the Singhs had in 2016 and 2017 verbally assured the Delhi High Court that there were sufficient funds to … [Read more...] about Malvinder and Shivinder Singh and the ‘missing’ funds of a billion-dollar empire
Video PlayerClose WASHINGTON, Nov. 14 (Xinhua) -- The United States has threatened to punish Egypt for its decision to purchase fighter jets from Russia, flexing its muscles against a second regional power that is veering toward Moscow. According to reports by the Wall Street Journal Thursday, U.S. Secretary of State Mike Pompeo and Defense Secretary Mark Esper sent a letter Wednesday to Cairo, urging the country to scrap a deal to purchase Su-35 jets from Russia. "Major new arms deals with Russia would-at a minimum-complicate future U.S. defense transactions with and security assistance to Egypt," the letter said. Egypt reportedly signed a 2-billion-dollar agreement earlier this year with Moscow to buy more than 20 Su-35 jets. The menacing tone came after similar tactics failed to bring Turkey, another regional power and a member of the North Atlantic Treaty Organization, to drop its bid to acquire Russian S-400 missile systems. Threats to kick Turkey out of the F-35 program was met … [Read more...] about U.S. threatens to punish Egypt over arms deal with Russia
The city of Stockholm has fewer than one million residents, roughly a tenth of Bangalore’s population. In fact, at 10 million-plus people, Bangalore has more residents than the entire country of Sweden (9.7 million). The Scandinavian capital is abuzz with innovative ideas and startup savvy. How does a city with so few people grow a density of technology unicorns (startups valued at $1 billion or more) and multi-hundred dollar startups to beat Bangalore hollow? Spotify, the music streaming service that has been valued at over $8.5 billion to make it Europe’s most valuable venture-backed firm, started in Stockholm. It was Sweden’s fifth unicorn. Alongside Spotify, there is the free video and voice chat app, Skype, King (the gaming studio behind the Candy Crush games), Mojang (maker of Minecraft games) and Klarna, the payment service. Stockholm is the world’s most prolific tech startup hub after Silicon Valley on a per-capita basis. Stockholm is right up there, … [Read more...] about Start-up city: Why Stockholm is miles ahead of Bangalore
Email By political reporter Jackson Gothe-Snape Updated February 12, 2019 23:48:06 Photo: The Government says the final group of children on Nauru are set to be transferred. (AP: Jason Oxenham) Related Story: Security fears prompt Labor to revise proposed asylum seeker medical evacuation laws Related Story: Morrison's government the first to lose a vote on its own legislation in decades Map: Australia Asylum seekers diagnosed by doctors as needing medical attention in Australia haven't yet been placed on planes. Key points:The lower house of Parliament approved a law expanding medical access for asylum seekersThe Government did not support the law, triggering a historic defeatThe amended bill still needs to pass the Senate then come into law for new medical transfers to happen That's despite a bill passing the House of Representatives, against the Government's will, on Tuesday expanding medical transfers for people on Manus Island and Nauru.This is why and what happens … [Read more...] about What now for asylum seekers on Nauru and Manus Island in need of medical evacuation?