financial

Bitcoin user arrested for $4.5M Ponzi scheme

Bitcoin user arrested for $4.5M Ponzi scheme

Trendon Shavers, from Texas, was arrested this week and charged with several counts of fraud for running a Bitcoin Ponzi scheme that earned over $4 million. He is now facing a maximum prison sentence of 20 years each for one count of securities fraud and one count of wire fraud, in addition to civil charges from the SEC (Securities and Exchange Commission) in 2013 that resulted in the order to pay $40 million in fines.

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Lenovo’s 2014 Q2 saw upswing in profits, new record

Lenovo’s 2014 Q2 saw upswing in profits, new record

Lenovo's second quarter financial report is in, and in it we see profits on the upswing, with the company hitting a 7-percent revenue increase over the same quarter last year. With its numbers, Lenovo managed to take top slot in the PC+Tablet category and saw a record number of shipments across its tablets, PCs, and smartphone at 35.6 million units. Said Lenovo's CEO and Chairman Yuanqing Yang on the company's new #1 slot, "In May, we set this as a two year goal, but achieved it in two quarters."

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Samsung’s third quarter suffered expected financial stumbles

Samsung’s third quarter suffered expected financial stumbles

A regularly filing earlier this month revealed that Samsung's 2014 third quarter profits would show a big stumble over past quarters, with it being expected that the company would be showing three-year lows. The official quarterly results report is in, and in it we see the same story: in the quarter ending on September 30, Samsung's revenue and operating profit were both down quarter-on-quarter. This marks the company's second straight quarter of stumbles in its IT and mobile division, and the company is banking on holiday sales propping it up in Q4.

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Amazon loses big, but the worst is yet to come

Amazon loses big, but the worst is yet to come

It's not looking especially good at Amazon right this minute for investors. While operating loss was $25 million USD in Amazon's Q3 of 2013, this quarter (one year later), they've reported operating loss at $544 million. Net loss, on the other hand, was $41 million at this time last year and $437 million this quarter. On a more positive side, Amazon introduced several new products this quarter and increased net sales 20% to $20.58 billion this quarter compared to $17.09 billion one year ago. It may be time for a fire sale, nonetheless.

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Hungary’s Internet providers could soon be taxed per gigabyte

Hungary’s Internet providers could soon be taxed per gigabyte

Internet usage is still mighty expensive in some regions, but all could pale in comparison to what residents in Hungary may soon be paying: the country is set to impose the first-ever tax on Internet usage, and it's a hefty one. The announcement was made earlier today by the nation's Minister for National Economy Mihaly Varga, and it has received harsh criticism from both locals and those abroad. Calls for protests have already happened, but as of right now, the measure is set to start in 2015.

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Google Q3 2014 Earnings hit and a miss

Google Q3 2014 Earnings hit and a miss

This afternoon Google announced their financial Q3 2014 earnings, this just a short while after Apple held their 2014 iPad event. Generally Apple’s events squash every other kind of technology news released during the day, but Google’s earnings - especially ones that turn their stock into a rock - should be strong enough to break on through. What we’re seeing today is Google’s CFO Patrick Pichette announce that they’re excited about the growth in our advertising and emerging businesses."

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Samsung’s Q3 2014 profits nosedived

Samsung’s Q3 2014 profits nosedived

The past couple years have been kind to Samsung, which has seen record profits and all sorts of bragging rights. That reign held steady for quite a while as the Korean company pumped out mobile gadgets that found favor with consumers. Those numbers started stumbling this year, however, and by the looks of things has taken a massive blow in the third quarter of this year. Such information comes from a regulatory filing, which shows the company is expecting its profits to come in at a three-year low.

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