Tech News Hub: WEEKLY NEWS ROUNDUP
Due to regulatory changes in the region of China, the crackdown on big techs is massively impacting their work method. After banning Facebook, Microsoft's LinkedIn, the state started banning apps from the iOS store. Banded apps mostly contained religious apps in the past, but at the moment, their attention went deeper into the highest-rated apps. Being a manufacturing powerhouse, tech companies don't want to lose business in China, but it's hurting the revenue stream. This year alone, Apple made $15 billion in revenue in China, but things are not looking good. Apple may become the last US tech giant to get out of Chinese business.
The National Audit Office in the UK is taking longer to process files as lots of data is piled up. Priority cases were handled, but files are still clogging due to lockdown and a shortage of human resources in the office. According to NAO, the old data handling practice is the issue here, and a change is needed.
The acquisition part of our Tech News Hub covered Trustwave selling their PCI compliance business to strengthen Sysnet's business. With the current buy, the company will be accountable for future proceedings of SecreTrust activities. Trustwave sold the company for $80 million and focuses more on machine learning and artificial intelligence for data processing. Their security compliance selling fund will go toward sectors predicted to generate revenue streams in the coming days.
Germany-based software company SAP is putting up highly competitive efforts with Salesforce, another giant in the tech sector. SAP's mission is to generate more revenue streams for adopting companies with secure and steady workflow by floating on the boat of available tech. SAP's revenue jumped 20% in the last business quarter, which undoubtedly will impact Salesforce business as customers will have multiple popular options.
The largest internet payment gateway PayPal was in talks to acquire popular social media and image sharing service Pinterest, which later came to a haul. The payment gateway was looking for an alternative method of revenue stream along with experimenting by adding a whole different sector of business under their name. The pandemic boosted PayPal's revenue which gave them the confidence to acquire Pinterest. Later they turned down the acquisition proposal.
Worlds largest wireless telecommunication network AT&T is selling their media streaming platform, HBO Max, to cope with challenges faced in recent times. Companies acquired under former CEO said it's part of the effort to sell WarnerMedia Inc. and under the banner HBO Max streaming service. Though the company gets regular revenue, they were in debt when they were purchased and selling them off will undoubtedly lift the scale higher in their favour.
Chinese e-commerce giant Alibaba came up with their in-house server chips and cloud platform to tackle challenges. Yitian 710, 128 Arm core with 3.2 GHz max speed chips will fill their need to serve customers independently instead of depending on others. It indeed puts pressure on US companies such as Microsoft, Amazon, Intel and AMD. Though Huawei was the first to develop their chips for the Asian market, Alibaba came full-fledged as part of their action to provide top-notch cloud services and in house chips for data centres.
Recap on last week's highlight, Vodafone is prepping legal notice to the UK as Fujitsu won a $254 million contract to work with the US Embassy and the British Council. Both companies were on the matric to comply and scored above necessary to get the tender. In the end, the UK Judicial decision gave the contract to Tokyo-based company Fujitsu. Vodafone proceeded to legal notice as they both scored low and why there was no other way of settlement.
Vodafone scored below Fujitsu, and this pushed the judicial system to pass the decision.
In another news, we featured former Amazon CEO Jeff Bezos, current CEO Andy Jassy and executive committee receiving legal notice for tempering with search results and product placements. The report contains a broad summary of company work ethics on the eCommerce side where businesses integrated with Amazon services pay top dollar. Still, Amazon uses those calculations to boost their product. In search, their product page comes first. As a result, even after paying a hefty sum, they don't get the desired result.
A ransomware report published by the US government says within the first year of 2021, when the world is still recovering from the pandemic, ransomware was the reason for the $590 million cash grab. Few digital currency platforms are banned for US citizens as they have a traceless method of transferring the fund into the attacker's account. Other legal proceedings took place to stop ransom at its doorstep. Read the full story to unveil three primary concerns and steps to tackle ransomware protection. Stay tuned for the latest tech news in Tech News Hub.