Month: April 2019

Netflix to sell $2 Billion Bonds to Help Fund more Content

CompuScoop Staff April 23, 2019 0

Bloomberg - Netflix is returning to the junk-bond market to fund its content expansion as the company comes under pressure from media giants including Walt Disney Co., AT&T Inc. and Apple Inc.

The streaming company is selling $2 billion of bonds in a two-part offering denominated in dollars and euros, according to a statement Tuesday. The proceeds will be used for general corporate purposes that may include investing in content, production and development, the statement said.

The notes will mature in 10.5 years and can’t be bought back, according to a person with knowledge of the matter. Morgan Stanley, Goldman Sachs Group Inc., JPMorgan Chase & Co., Deutsche Bank AG and Wells Fargo & Co. are managing the bond sale, said the person, who asked not to be identified as the details are private. The bonds are expected to price Wednesday.

Netflix has relied on the debt markets to help fund content growth

Netflix is coming off a quarter in which its forecast for new subscribers fell short of analysts’ estimates. It’s been raising prices in some of its largest territories, trying to shift toward profitability when the competition among other streaming services is mounting.

Los Gatos, California-based Netflix has traditionally borrowed semiannually following its first and third quarter results in April and October, respectively, amassing a $10 billion debt load in the process. But Chief Executive Officer Reed Hastings said the issuance may not last much longer as the company will soon be able to fund itself. It’s still expecting to burn through $3.5 billion of cash this year, but its financing needs will start to abate in 2020.

NASA’s Mars InSight Lander measures likely first-ever Mars Quake

NASA Gov April 23, 2019 0

NASA’s Mars InSight lander has measured and recorded for the first time ever a likely “marsquake.”

The faint seismic signal, detected by the lander’s Seismic Experiment for Interior Structure (SEIS) instrument, was recorded on April 6, the lander’s 128th Martian day, or sol. This is the first recorded trembling that appears to have come from inside the planet, as opposed to being caused by forces above the surface, such as wind. Scientists still are examining the data to determine the exact cause of the signal.

Teenager sues Apple for $1B over false arrest

CompuScoop Staff April 23, 2019 0

Apple is facing a billion dollar lawsuit thanks to the facial recognition software used in its stores to track individuals it suspects of theft.

As the New York Post reports, on May 31 last year $1,200 worth of merchandise was stolen from an Apple store in Boston. The thief apparently used a stolen ID to identify himself in the store, with that ID actually belonging to 18-year-old Ousmane Bah. The ID did not include a photo, but listed all of his personal details. The thief then went on to steal again at Apple stores in Delaware, Manhattan, and New Jersey.

In June, Bah received a Boston municipal court summons and then he was later arrested by the NYPD on Nov. 29. However, according to the lawsuit, the detective involved with the case realized Bah didn't look like the thief when reviewing surveillance footage recorded at the Apple stores.

Bah believes that Apple decided to update the facial recognition software used in its stores to associate the thief's face with his personal details. The knock-on effect of that being subsequent thefts were automatically blamed on Bah.

As Bloomberg explains, the $1 billion lawsuit Apple is facing is due to the "severe stress and hardship" Bah faced when dealing with multiple false allegations against him. As well as Apple, a company called Security Industry Specialists Inc. is listed in the lawsuit as a defendant.

All the charges against Bah have now been dropped except for those in New Jersey. This lawsuit isn't going away, though, especially considering Bah claims to have been attending his senior prom when the Boston theft occurred. Apple may have to face some difficult questions regarding its use of facial recognition technology in stores as well as its manipulation of the data that system collects.

Via: pcmag.com

Rumor: Apple may get 5G Chips from 2 sources

CompuScoop Staff April 22, 2019 0

According to 9to5Mac.com, analyst Ming-Chi Kuo, Apple will be getting the chips for its 5G iPhone from two companies. This includes Qualcomm, as well as Samsung. Kuo also believes that the launch of a 5G iPhone will result in sales between 195 million and 200 million units. He expects the device to come out in the second half of 2020.

We will continue to follow this and update as necessary.