Intel Confirms Major Layoff: 12,000 Worldwide

The US chip giant Intel wants to convert from the classic computer supplier to the mobile and cloud services provider. That is to the detriment of employees – despite billions profits and high profit margins, many employees lose their jobs.

The world’s largest chipmaker Intel has announced a massive job cuts. Mid-2017, the company wants to change world 12 000 points as it announced on Tuesday after U.S. market close. This corresponds to about 11 percent of the total number of employees.

The group founded the staff clearcut with the shift from the classical PC supplier to the modern service providers in the mobile and cloud business, in which data on the Internet are outsourced. Intel has mainly the so-called Internet of things in their sights – the online networking of devices or machines.

Obviously much fewer employees are needed for these business areas designated by the group as “Engines of growth”. Most of the employees affected by the job cuts should be informed within the next 60 days, Intel announced.

First to go the termination and severance pay in the money – in the second quarter, the Group anticipates a special expenditure of $1.2 billion. Mid-2017, the annual cost of the austerity program but to 1.4 billion dollars projected for the year should (1.2 billion euro) fall.

While Intel made last thick profit: In the first quarter, the surplus rose compared with the previous year from 1.99 to 2.05 billion dollars (1.80 billion euro). Revenue climbed seven percent to 13.7 billion dollars. The profit margin was almost 60 percent.

However, revenues were below market expectations. In addition, Intel disappointed investors with a revenue forecast of 13.5 billion dollars (plus or minus 500 million) for the second quarter. The stock suspended briefly from trading according to the communication on the job cuts fell nachbörslich first by three percent.

Intel also announced that the Finance Director operating for 28 years for the group within the company on a new post will change Stacy Smith. He should worry about the areas of sales, production and operation, as soon as a successor was established.

Oracle wants $9.3 billion from Google for Software Copyrights

Oracle asked Google to pay punitive damages of US $ 9.3 billion because it violated the copyright of many years over the use of Java as the base for developing the Android operating systemBased on a calculation of an expert hired by Oracle, James Malackowski, the figure consists of US $ 475 million in damages and US $ 5.5 billion  of the profits that accrue to Google.

Nominal damages to be paid could be just getting to ride along with the growth of the Android operating system users and the smartphone market from year to year. On the other hand, Google is convinced that the cost of the damages to be paid should be lower. Therefore, Google has also hired an expert to back making sure the numbers proposed Oracle.

To resolve this problem, Google’s Eric Schmidt and Larry Ellison of Oracle returns must attend federal district court to be held in San Francisco on May 9, 2016The trial will be held about six versions of Android that‘s been released, from Froyo to LollipopPreviously, the past year 2012, the two companies already had case in court. But the judges questioned whether the Java modules used by Google is protected by reasonable use ‘, which allows Google to use it within certain limits.

At the first trial, the jury found that Google had violated copyright because Oracle is already copying the 37 Application Programming Interfaces (API) Java to the Android which covers the structure, sequence, organization and programming. Judge William Alsup, the Court decided that the fire that sued are not eligible for protection pursuant to applicable copyright law in the United StatesTherefore, Google any appeal to the Supreme Court to reject the verdict.

Fed Leaves Rates Unchanged causing Stock Drops

Central Bank of the United States (The Federal Reserve) decided to maintain interest rates see in the range of 0.25-0.5 percent. The uncertainty of the global economic and financial developments into consideration of The FedThe decision was taken in a meeting of the Federal open market Committee (FOMC), which took place overnight, Wednesday (27/1) time Washington, us.

In its official description, the Fed declared the U.S. labor market conditions improved since December last year although by that time the central economic slow down. Meanwhile, household spending and investment is increasing at a moderate level in recent months, with increasing business performance. However, on the other hand export performance tend to be out of line with slowed demand.

However, the policy makers of The Fed rate was not enough to be a reason for a rise in interest rates because there is a global economic and financial factors that are also worth consideringThe Committee of the Fed is currently monitoring the global financial and economic developments and assess the implications for the labour market and inflation,” The Fed in the broadcast press.

The FOMC meeting concluded with voting on this morning followed by all members of the Committee, namely, Janet l. Yellen, William c. Dudley, Lael Brainard; James Bullard; Stanley Fischer; Esther L. George; Loretta J. Mester; Jerome H. Powell; Eric Rosengren; and Daniel k. Tarullo.

Stocks plummet on Wall Street

Post an announcement of The Fed, investors frustrated and result in a U.S. stock exchange is down. Reuters noted the Dow Jones Industrial Average Index plummeted 222.77 points or 1.38 per cent to as low as 15.9444,46. While the Nasdaq Composite index minus 99.51 points or 4468.17 percent to 2.18. Instead, the index S&P thus strengthened 46.45 points or 0.38 percent to as low as 12377.77.

Asian stock exchanges of presents to experience a correction. South Korea’s Kospi index opened weakened 0.81 points or 0.04 cent to as low as 1897.06. Similarly, the Shanghai Composite Index which rectified 21.08 points or 0.77 percent to as low as 2.7144, 48.