Apple to shutter Atlantic City store

Apple will be shutting down its retail store in Atlantic City, New Jersey – a very rare move from the iPhone maker. The shuttering of the store means as many as 52 people will lose their jobs – a layoff by Apple that is unheard of in recent times. Apple last closed a store in Simi Valley, California, for similar reasons. The company has more than 500 stores globally with over half located in the U.S. Apple filed a Worker Adjustment and Retraining Notification with the state of New Jersey for 52 employees who will be affected. The iPhone maker rarely …

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Financially literate Americans worry less about life in old age

Researchers have found through a new study that financially literate Americans – those who are better at saving money and investing during their young age – are less anxious about their life in old age. Researchers at the Hiroshima University carried out this new household economics study – a first of its kind that examines how financial literacy influences anxiety about life in old age in the United States. Researchers at the University looked at the answers of surveys sent to adults across the US. Respondents answered questions that tested their financial literacy, including basic calculation skills and understanding the pricing …

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Coca-Cola to launch first alcoholic drink soon

An alcoholic drink is on the cards from Coca-Cola as the soda company is taking such a major diversification step for the first time in its 125-year history. The alcohol produce from Coca-Cola will be an alcopop-style product and it will be launched in Japan first. According to reports the company has already been experimenting with the creation of a popular type of Japanese alcopop known as Chu-Hi, containing distilled shochu alcohol mixed with flavoured carbonate water. Coca-Cola’s Japan president Jorge Garduo confirmed that the company is planning and experimenting with an alcoholic drink. According to Garduo, the drink will come …

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US court says Samsung must pay Apple $539 million in patent lawsuit

A US court has said that Samsung ought to pay Apple $539 million for violating intellectual property rights of the latter. The Samsung vs. Apple patent infringement case started in 2011. Reports in the US point out that Samsung was found liable in the initial verdict in 2012 and was initially asked to pay over $1 billion to Apple but the amount was later reduced in further court hearings. Under the US patent law, infringement of a design patent can result in a plaintiff receiving total profits made through the product. Samsung`s lawyers appealed the case, bringing down the compensation of $1 …

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Facebook gave ‘special access to user records’ to some companies, report claims

A new revelation has come forward regarding Facebook and its data sharing practices with a report from The Wall Street Journal claiming that the social networking company provided select companies “customised data-sharing deals” that let them gain “special access to user records”. The report cites court documents and unnamed sources and claims that Facebook gave data access to some companies while “others were cut off”. Under these special deals, Facebook gave select companies special access to user records well after the point in 2015 that the social network has said it walled off that information. The arrangement with the companies …

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Lego strengthens Chinese presence through involvement in classrooms

Lego is seeking new markets owing to decline in sales in its traditional markets and because of this the Danish toymaker is strengthening its position in China by promoting its place in the classrooms across the country. Lego is working with a number of local organizations, schools and private education providers in the country to promote use of Lego as an education tool that boosts motor skills, creativity and attention spans. Lego is working to present itself as a tool that helps instill and nurture the much needed skills in children. China is a market that is already aware of how …

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Samsung asked to pay $533 million for copying iPhone design features

The Apple Samsung patent infringement lawsuit has witnessed yet another verdict with a federal court jury on Friday ordering Samsung to pay Apple $533 million for copying iPhone design features in a patent case dating back seven years. Jurors tacked on an additional $5 million in damages for a pair of patented functions. The award appeared to be a bit of a victory for Apple, which had argued in court that design was essential to the iPhone. The case was sent back to the district court following a Supreme Court decision to revisit an earlier $400 million damage award. To …

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ZTE to pay $1.3 billion fine to re-open, Donald Trump says

US President Donald Trump has said Chinese telecommunications-equipment maker ZTE Corp. will be allowed to remain in business once it pays a $1.3 billion fine as well as change its management and board and providing “high-level security guarantees.” Trump confirmed through a tweet that a deal has been outlined by his administration however, lawmakers on both sides of the aisle have expressed concern over his decision to soften an earlier U.S. action against ZTE over what his Commerce secretary called “egregious” violations of sanctions on Iran and North Korea. Trump didn’t let that go and in a tweet took a jab …

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Kazuo Hirai to step down as Sony Corp CEO

Kazuo Hirai will be stepping down from the post of CEO of Sony Corp making way for company’s chief financial officer Kenichiro Yoshida, the company announced. Yoshida has been credited with leading many of the changes that have helped the company recover from years of losses in consumer electronics. Hirai implemented policies that led to thousands of job cuts as well as withdrawal from or cut back in areas such as PCs and TVs. Hirai did manage to regain the market’s confidence with a no-nonsense restructuring plan as well as strong sales of image sensors, used in smartphones; however, Yoshida is believed to …

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Obesity Surgery Devices Asia-Pacific Market Forecast until 2023

Asia-Pacific stands as the fastest growing market for obesity surgery devices Asia-Pacific is expected to observe the fastest growth in the obesity surgery devices market, due to increasing aging population, rising prevalence of obesity, and booming medical tourism in the region. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the number of people aged 65 years and above constituted approximately 11.4% of population in 2013, and the count is estimated to reach approximately 20% of the population, by 2050. As a result, an increase in the demand for devices for obesity surgery is …

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