financial

CVS Pay officially unveiled, dashing Apple Pay rumors

CVS Pay officially unveiled, dashing Apple Pay rumors

We've known for a few weeks now that CVS Pharmacy has been working on making mobile payments available in its stores, and all signs pointed toward those mobile payments involving Apple Pay. While CVS had confirmed in a roundabout way that it was looking into mobile payments, it didn't specify platforms one way or the other. Now, it turns out via an official announcement, CVS wasn't planning to launch Apple Pay: it was developing its own mobile payments platform called CVS Pay.

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Alphabet’s Q2 financial results beat expectations, show strong growth

Alphabet’s Q2 financial results beat expectations, show strong growth

Google's parent company Alphabet Inc. is soaking it up today, as its financial results for the second quarter are in and they're looking good in almost every area. The company is showing significant year-over-year growth in most areas, with Alphabet CFO Ruth Porat saying that the company is now reaping the benefits of the investments it has made in the mobile and video spaces.

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Apple’s Q3 2016 saw highest App Store revenue ever

Apple’s Q3 2016 saw highest App Store revenue ever

Apple has taken the wraps off its third quarter 2016 financial numbers, with CEO Tim Cook saying its latest quarterly figures “reflect stronger customer demand and business performance than we anticipated at the start of the quarter.” Among other things, the company saw its services business grow by a major 19-percent year-on-year while its App Store revenue reached its highest point ever.

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Wendy’s releases searchable list of stores hit by credit card malware

Wendy’s releases searchable list of stores hit by credit card malware

The fast food restaurant chain Wendy’s has updated consumers about its previously disclosed credit card breach, saying its investigation has led it to believe compromised service provider remote access credentials are responsible. The breach was first disclosed in February; later on in May, Wendy’s confirmed that malware had been installed on some of the POS systems in some of its restaurants. Since that time, the company says all of the malware across its affected stores’ point-of-sale systems has been disabled.

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Facebook faces IRS scrutiny as Justice Department files lawsuit

Facebook faces IRS scrutiny as Justice Department files lawsuit

A Department of Justice lawsuit filed this week seeks to force Facebook’s hand in a battle against the IRS and the allegations it has made about Facebook’s tax records. According to the IRS, the social network may have skirted paying taxes on billions of dollars by understating the value of some of its IP that was transferred to Ireland. The DoJ’s lawsuit, which was filed this past Wednesday in California, aims to make Facebook turn over documents as part of the tax investigation.

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FAA propses more fines against Amazon over alleged shipment violations

FAA propses more fines against Amazon over alleged shipment violations

On the heels of a recent proposed $350,000 fine against Amazon over the alleged improper shipment of hazardous materials comes another two notices from the FAA: a proposed fine of $78,000 and a proposed fine of $52,000, both likewise over the claimed violations of hazardous materials shipment regulations. The shipping instances took place in 2014, and are said to have involved a total of three cardboard boxes.

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North Korea may be hacking banks across the world

North Korea may be hacking banks across the world

North Korea, allegedly behind the Sony Pictures cyberattack and more, could be behind a series of bank hacks across the globe resulting in tens of millions of lost dollars. Researchers with Symantec cite a recent trio of attacks that involved rare code seen in both the Sony cyberattack and earlier attacks against companies — including banks — in South Korea and the US. Assuming North Korea is behind the attacks, it would be a worrisome and exceedingly rare instance in which a nation-state is hacking global banks to steal money.

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Lenovo reveals Motorola integration failed expectations

Lenovo reveals Motorola integration failed expectations

Perhaps Motorola's "curse" continues. While many of Motorola's mobile devices, like the iconic RAZR or the Moto X, were well received, the company somewhat failed to become profitable. At least not long enough to stay put. Barely a few years after Google acquired it, Motorola was sold off again, this time to PC giant Lenovo. Now in its full-year fiscal report ending March 2016, the first fiscal year since it acquired Motorola, Lenovo candidly revealed that its integration of the mobile company fell below expectations, resulting in some losses though the general mobile business did grow as a whole.

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AT&T’s simplified device plans ask: lower payments or faster upgrades?

AT&T’s simplified device plans ask: lower payments or faster upgrades?

AT&T has tweaked its installment device payment options, narrowing them down into two plans that ask consumers a question: do you want lower monthly payments or the ability to upgrade your phone more quickly? If you answer the latter, you’ll choose the A&T Next Every Year plan starting June 9, whereas everyone else will get the cheaper AT&T Next installment plan. This reduces the previous options from four down to a less confusing two.

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Fitbit’s Coin acquisition paves way for fitness band mobile payments

Fitbit’s Coin acquisition paves way for fitness band mobile payments

Coin, a four-year-old company that has developed technology for making mobile payments, was acquired by Fitbit this week. The acquisition will give Fitbit access to Coin’s intellectual property pertaining to its wearables payment platform, and will also bring some of Coin’s ‘key personnel’ to Fitbit. The deal spells the end to Coin’s payment products, but opens the door to mobile payments for Fitbit’s own customer base.

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HTC had a terrible Q1, ready for HTC 10, Vive rescue

HTC had a terrible Q1, ready for HTC 10, Vive rescue

When your revenue plummets by more than 60% in year on year figures, you should probably be panicking. HTC, however, isn't. Despite its very gloomy first quarter financial report, as expected by almost everyone, the Taiwanese company isn't curling up in a corner just yet. That's because it believes it has two aces up its sleeves: the HTC 10 smartphone and the HTC Vive virtual reality headset, both of which just barely missed the first quarter. Whether they're enough to truly save HTC from its sinking ship remains to be seen in the next three months.

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Facebook saw big advertising, mobile increases in Q1 2016

Facebook saw big advertising, mobile increases in Q1 2016

Facebook’s first quarter 2016 financial report is in, and the numbers are fantastic across the board. In the quarter ending on March 31, Facebook saw its year-on-year total revenue increase 52-percent, hitting $5.3 billion in comparison to the same quarter last year ($3.5 billion). “We had a great start to the year,” Zuckerberg said in a statement. “We’re focused on our 10 year roadmap to give everyone in the world the power to share anything they want with anyone."

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