Apple joins SoftBank’s Vision fund with $1 billion investment

Right now, Apple confirmed plans to invest in SoftBank’s huge $ one hundred billion Vision Fund, the international tech fund that the telecom giant announced last October.

In a statement to TechCrunch, Apple verified its involvement in the fund, a rumor first reported by The Wall Street Journal in mid December:

“Apple is organizing to invest $ 1 billion in SoftBank’s Vision Fund. We’ve worked closely with SoftBank for many years and we believe their new fund will speed the development of technologies which might be strategically crucial to Apple.”

The fund, a joint effort amongst SoftBank and the government of Saudi Arabia’s Public Investment Fund (PIF), reportedly seeks to invest in emerging technologies, which includes artificial intelligence and the World wide web of Things. In December, Apple published a paper detailing its AI research, and its interest in IoT by means of HomeKit is ongoing. Beyond’s Apple’s $ 1 billion investment, SoftBank is investing roughly $ 25 billion in the Vision fund, with yet another $ 45 billion to come from Saudi Arabia.

Qualcomm and Oracle are also rumored to be interested. In statements to TechCrunch, each companies declined to comment on their possible interest in the fund.

The Vision Fund recently became entangled with President-elect Donald Trump, when he claimed credit for Vision Fund plans that pre-dated his election win. Trump seems to have coordinated with SoftBank CEO and Sprint Chairman Masayoshi Son, tweeting a misleading boast about his part in making new jobs. Provided SoftBank’s enduring want to get T-Mobile, Son’s interest in buttering up the deregulation-friendly incoming president is apparent.

With a whopping $ one hundred billion to point toward hot developments in tech, it is no surprise that a massive chunk of the fund will be aimed at American tech businesses. Now, through Apple, a sliver of the international fund will originate stateside as nicely.

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TechCrunch

Yahoo discloses hack of 1 billion accounts

Yahoo has suffered one more hack.

The firm disclosed today that it has discovered a breach of a lot more than one particular billion user accounts that occurred in August 2013. The breach is separate and distinct from the theft of information from 500 million accounts that Yahoo reported this September.

Troublingly, Yahoo’s chief details safety officer Bob Lord says that the company hasn’t been in a position to figure out how the data from the one particular billion accounts was stolen. “We have not been in a position to determine the intrusion connected with this theft,” Lord wrote in a post announcing the hack.

“The stolen user account information could have included names, e-mail addresses, telephone numbers, dates of birth, hashed passwords (employing MD5) and, in some situations, encrypted or unencrypted safety inquiries and answers,” Lord added.

Yahoo was alerted to the massive breach by law enforcement and has examined the information with the support of outside forensic professionals. The information does not appear to include payment details or plaintext passwords, but it’s still poor news for Yahoo account holders. The hashing algorithm MD5 is no longer considered secure and MD5 hashes can effortlessly be looked up on-line to find out the passwords they hide.

Yahoo says it is notifying the account holders impacted in the breach.

Developing…

Featured Image: Bryce Durbin/TechCrunch
TechCrunch

Amazon will invest $1 billion to conquer the Middle East

Amazon is a single of the world’s biggest retail destinations, but it does not have considerably traction in the Middle East. That’s why rumors that it’s looking to buy Souq.com, the Amazon of the Middle East, make so a lot sense. Bloomberg is reporting that Jeff Bezos and crew might commit up to $ 1 billion on the website to achieve a foothold across Egypt, Saudi Arabia and the UAE. Neither party is talking about the deal, but if it is acquiring reported in an august economic publication like Bloomberg then it need to be severe.

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Volkswagen investors sue for yet another $9 billion in damages

As Reuters reports today, the automaker had to bring in added staff just to procedure all of the paperwork, which was filed in a regional court in Braunschweig, Germany near the Volkswagen headquarters in Wolfsburg. Over half of these lawsuits arrived on Monday, reportedly because VW shareholders believed September 18th was the deadline to file.

The majority of the plaintiffs claim that Volkswagen didn’t act fast adequate to alert shareholders to the truth that its application was cheating the emissions testing program. Earlier this month a veteran Volkswagen engineer pled guilty in a US federal court to charges of conspiring to defraud American customers and regulatory agencies.

The most significant of the new shareholder lawsuits amounts to about $ three.6 billion (three.three billion euros) and was filed on behalf of the huge-cash institutional investors. Also named among the plaintiffs have been a number of German state pension funds, which took a hit when VW stock tanked a year ago. Volkswagen has already set aside far more then $ 18 billion to cover the US settlement and the price of buyback and retrofit applications, but analysts believe that figure will continue to rise as far more lawsuits and regulatory penalties trickle in. Searching a little further down the road, nonetheless, the company is nevertheless banking on an ambitious lineup of electric autos to support steer it back on track.

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