Business News

Uber Is Leaving Denmark

Uber is getting out of Denmark due to new taxi regulations that'll make fare meters and seat sensors mandatory. The service will no longer be operational in that market come April 18. Those regulations couldn't reasonably be complied with since drivers use their own vehicles.

Periscope Videos Will Get Ads

Twitter has announced its intention to begin monetizing content on Periscope, its livestreaming platform. Pre-roll ads will be found on both live and archived videos. This change runs the risk of turning some users off of watching content on the platform.

Tencent Acquires 5% Stake In Tesla

A significant portion of Tesla's shares has been acquired by Tencent, a large internet company based in China. Tencent purchased 8,167,544 shares, giving it a 5% stake. Those shares cost the company around $1.7 billion. Tencent is now one of the largest shareholders.

Google Home, WiFi Reach UK In April

Google will release its WiFi and Home in the UK on April 6. During a small event in London, it revealed their release date. The Home smart speaker goes for £129, while the Google WiFi is £129 for a single unit and £229 for two. The Home will compete against Amazon's Echo.

Square Launching In UK

Square is entering Europe for the first time and its initial European market will be the UK. It has set up an entity in the country, which is known as Squareup Europe. CEO Jack Dorsey announced the expansion during an event in London. The UK is the fifth market.

Amazon Acquiring Middle East Counterpart 'Souq'

Amazon has confirmed it'll acquire Souq, which many have referred to as the "Amazon of the Middle East." Reports claim the companies have been in talks for months. Amazon plans to use Souq to offer "the best possible service" in the Middle East. The cost isn't known.

BT Fined £42M By Ofcom

Ofcom has hit BT with a £42 million penalty due to the company illegitimately reducing its compensation payments for not installing lines in a timely manner. BT compensates third-party providers when leased lines aren't delivered on time and it attempted to save money.

Nintendo Planning On A 'Big E3'

Nintendo is going to have a big E3 presence this year. According to Nintendo of America president Reggie Fils-Aime, the company intends to highlight multiple games during the event. He didn't go into details about what will be present at E3. Switch and 3DS games will be present.

SoundCloud Gets A $70M Loan

As it continues to work through difficult finances, SoundCloud has taken out a $70 million loan from a group of financial institutions. The "debt funding" is coming from Kreos Capital, Davidson Technology, and Ares Capital. It secured the funding on March 10.

Unlocked LG G6 To Launch Soon In The US

All major US carriers have the latest flagship LG smartphone available for pre-order, but there is still no unlocked LG G6 model for purchase or pre-order. Luckily, that will change soon as LG Mobile's official US website says that an unlocked G6 is "coming soon."