Netflix dominates the internet, Microsoft’s Paul Allen dies at 65, and more top news
Netflix dominates the internet, Microsoft’s Paul Allen dies at 65, and more top news
Microsoft co-founder Paul Allen has died aged 65 of cancer. Allen started Microsoft [LinkedIn’s parent] with childhood friend Bill Gates in 1975, taking the company public in 1986. The firm’s success made Allen one of America’s wealthiest people. Allen was also a major philanthropist, donating money to areas such as brain research and environmental conservation projects. • Here’s what people are saying.
Netflix is now responsible for 15% of all internet traffic globally, according to a report by Sandvine. YouTube takes up 11.4% of global internet traffic and Amazon’s Prime Video service is also building a significant audience, with 3.7% of total traffic. Video makes up almost 58% of all internet traffic, underlining the vast popularity of streaming services. •Here’s what people are saying.
Fidelity Investments has opened a crypto unit to store and trade digital currencies for hedge funds and other investors. The world’s fourth-biggest asset manager will begin by dealing in bitcoin and ether, the two largest of the currencies that allow users to bypass governments and banks. It’s the first Wall Street titan to wade into a field rife with regulatory and security risk. • Here’s what people are saying.
Defense contracting companies Harris Corporation and L3 Technologies have agreed to merge, creating the country’s sixth largest defense contractor, with annual sales of around $16 billion. The deal is expected to close in mid-2019. The merger positions the two companies — which make defense-related gear and electronics — to compete for larger contracts. • Here’s what people are saying.
The U.S. deficit widened 17%, or by $779 billion, in the fiscal year ending Sept. 30. It’s the third consecutive increase and the biggest deficit between government expenditure and revenue in six years. Low unemployment and rising wages have so far failed to offset last year’s tax cuts, which led to a 31% reduction in corporate receipts. • Here’s what people are saying.
Idea of the Day: You can learn important business lessons from playing video games, writes author Bernard Marr.
“Use the momentum you get after a success … to catapult you forward. You become incredibly vulnerable when you let the success diminish your attention to detail or cloud your judgment.”
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