JPMorgan Chase is all set to revolutionize the concept of ATM cash withdrawals. The bank will introduce the new system in the form of e-ATMs which will basically render bank cards redundant. The machines will dispense cash via a simple mobile app, in different denominations like $1, $5, $20, and $100 bills. At the same time, Chase has increased the withdrawal limit by three times, at $3000.
United States
Facebook growth in 2016 will focus on video advertising, Instagram, and Oculus Rift
Facebook is expected to announce its fourth-quarter earnings soon and analyst are expecting that the company will deliver a better than expected report. The company is also expected to boost its revenue this year through the expansion of its video advertising, Instagram, and Oculus RIft.
FSIS Compels Whole Foods To Recall 73,898 Pounds Of Frozen Pizzas Due To Mislabeling
Food and Safety Inspection Service (FSIS) under the US Department of Agriculture (USDA) has recalled mislabeled uncured pork pepperoni. Referring it as a Class II hazardous situation, FSIS advices Whole Foods customers to return the purchased products or just throw them away. But the recalling has taken place as consequences of changed ingredients from supplier’s behalf.
California Drought Has Affected U.S. Wine Industry
Four years of drought in California is recorded as one of the most severe. The drought has taken effect on U.S. wine industry, as the amount of grape harvested is reduced significantly.
Some Tech Startups Will Be Rabbits in 2016, Said Venture Capital Analyst
Unicorn is a term defining a startup company with over $1 billion valuation. Now, there will be other group of tech startups defined as "rabbit" to differentiate them from unicorns-overhype that become unicorpse.
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Oculus Studio, animation studio established by Oculus VR Inc introduced Quill. The animation tool enable illustrator to draw and make animation inside a VR to enhance the film making process in 3D environment.
Oracle has disclosed its expansion program in the Middle East for 2016 which involves setting up a data center and new offices in Abu Dhabi and internet cities in Amman and Riyadh. It also plans to increase its workforce to offer better service for the customers across the Middle East and Africa. The vibrant nature of the cloud market in the Middle East region and the ever growing cloud business therein has led the Californian tech giant to approach with larger investments.
Tech startup Slack Technologies hires Noah Weiss to lead the company's Search, Learning and Intelligence group. This indicates Sack Technologies interest to invest more on artificial intelligence.
Microsoft today unveiled a news application aimed at iOS users that is similar to Apple built in news app. However, the app is currently only available for the United States users.
Amazon will spend more than $3 billion for Amazon Prime music and video content. With a 54 million members in the U.S., Amazon Prime wants to increase customers spending to boost its revenue following a downtrend.
Virtual Reality has started to attract more developers. Game Developers Conference revealed a survey showing that more game developers are working on VR prior to the event next March.
Many venture capitalists like Chamath Palihapitiya prefer to park their funds in Amazon as the online retailer is forecast to grow over a decade. The reason is that it's not because of e-Commerce operations, but its cloud computing unit Amazon Web Services (AWS). Many companies will eventually pay a fixed fee to Amazon as they increasingly rely on cloud computing services to run their services.
BlueVine the fintech startup company completed its $40 million in Series C funding last Wednesday. The investment was led by Menlo Ventures and other participants.
Tesla cars sale fell below analyst expectation and its inability to roll out the Model X as promised lead J.P. Morgan analyst to reduce its profit projection for the fourth-quarter.
