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Many baulked when Facebook head Mark Zuckerberg agreed to drop $1 billion on Instagram in April 2012. "That's $33 per user," said some; "there's no business model!" screamed others. Less than three years later and Citigroup now says Instagram is worth $35 billion. That's almost 49 times higher tha...

December 19th 2014 at 1:28pm 0 Comments
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It's the TUAW Daily Update, your source for Apple news in a convenient audio format. You'll get all the top Apple stories of the day in three to five minutes for a quick review of what's happening in the Apple world. You can listen to today's Apple stories by clicking the inline player (requires Fl...

October 4th 2013 at 2:45pm 0 Comments
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Citigroup is learning the hard way that leaking unpublished research on iPhone production numbers to institutional investors ahead of other investors is wrong. The company has been fined US$30 million for sending that data to SAC Capital, T. Rowe Price, Citadel and GLC Partners ahead of official p...

October 4th 2013 at 11:00am 0 Comments
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Come June 28th, Wall Street outfits including the likes of Citigroup and Bank of America will be under siege -- from fake hackers, that is. Representatives from a total of 40 companies along with the Federal Reserve, Securities and Exchange Commission, US departments of Treasury and Homeland Secur...

June 18th 2013 at 1:18am 0 Comments
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Apple 2.0 is reporting that Apple stock dropped to US$497 in pre-market trading this morning. That's the first time that the stock has been below $500 since February 15, 2012. On Sunday, Citigroup lowered its price target for AAPL and also downgraded the stock from Buy to Neutral. That bad news...

December 17th 2012 at 10:30am 0 Comments
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Watson's been a busy supercomputer since it took a couple of humans to school on Jeopardy last year -- what with its stint at Columbia and a recent foray into hunting patent trolls -- and now it's taking on the financial industry. IBM and Citigroup recently announced plans to explore how America's...

March 6th 2012 at 9:23pm 0 Comments
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You've most likely heard plenty about NFC-capable smartphones, but little in the way of actual real-world uses for the chip. Well, MasterCard's looking to change all of that, and throw in a few innovations of its own courtesy of its in-house R&D labs and Google. Shown off at an event today, th...

September 15th 2011 at 5:32pm 0 Comments
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The wire services and the Wall Street Journal are reporting that the Citi Mobile app that Citibank offered to customers has a security flaw, and that it saved personal account information in a hidden file on users' iPhones. Our own Mike Rose reports that he got one of Citi's letters to customers war...

July 26th 2010 at 8:00pm 0 Comments
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Like Canada, Mexico's getting mobile payments, too, but these are just a bit different in two very important respects. One, this is a full-fledged service being underwritten by Telefonica, Iusacell, Citibank, and BBVA -- not just a trial. Two, unlike the NFC-based Canadian system, this one will rely...

August 29th 2008 at 8:56pm 0 Comments