The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
Turkey's invasion of northeastern Syria began Wednesday after Trump ordered U.S. troops to pull back from the area.Politicsread more
While Warren's ad about Facebook isn't true, the company's own policy allows politicians to make such false claims in paid advertising.Politicsread more
Typhoon Hagibis made landfall south of Tokyo on Saturday evening. By Sunday around 376,000 homes were left without electricity, and 14,000 without running water across Japan....Weather & Natural Disastersread more
SpaceX and Boeing are each in the final stages of developing the spacecraft needed for the U.S. to once again fly astronauts.Investing in Spaceread more
Bryn Mawr's Jeffrey Mills believes the market needs more time to break out of its slump.Trading Nationread more
Facebook on Wednesday unveiled a new video chat and streaming device called Portal TV, as the social network pushes to seek traction in the smart home market.
The device comes with a camera and microphones and allows users to make video calls from their televisions over WhatsApp and Facebook Messenger, as well as to stream video from Amazon Prime Video, Facebook Watch, Showtime, Starz and others. It will cost $149 and begin shipping Nov. 5.
Perhaps the most interesting part of Portal TV is the social aspect. Once you're connected, you can watch shows together on Facebook Watch or play augmented reality games. Facebook is also showing sensitivity to privacy concerns, giving users an easy way to cover the camera and turn off the microphones when not using the device.
While tech mega-cap peers Google, Amazon, Apple and Microsoft have experienced varying degrees of success with consumer devices, Facebook has failed to find much of a customer base. Last year, the company released the Portal and Portal+ video chat smart speakers powered by Amazon Alexa, but sales were minimal. Facebook said in July that second-quarter revenue in the payments and other fees segment, which includes Oculus virtual reality headsets and Portal devices, rose 36% to $262 million, accounting for less than 2% of total sales.
Selling the combination of a smart speaker and video-streaming product gets Facebook closer to an all-purpose streaming service as it goes up against stiff competition. Amazon and Google have video devices and services as well as smart speakers, and Apple is moving from a streaming box to a subscription TV offering that will cost $4.99 a month. Roku has built a $20 billion business selling streaming gadgets and licensing its software to TV manufacturers.
Facebook also announced the Portal Mini video chat smart speaker and a redesigned version of its Portal speakers, for $129 and $179, respectively, to start shipping Oct. 15. The Portal Mini features an 8-inch screen while the full-size Portal has a 10-inch screen like its predecessor. Facebook begins taking preorders for all three devices on Wednesday.
The original Portal devices were the product of the short-lived Building 8 division that Facebook launched in 2016 in an effort to expand its hardware offerings.
According to IDC, Facebook has shipped just over 54,000 Portal devices since its launch. Facebook has said the IDC number is not accurate but hasn't provided an official figure.
Facebook is experimenting with other gadgets as well. CNBC reported on Tuesday that the company has been working to develop augmented reality glasses for the past couple of years, but after struggling with product development, opted to partner with Ray-Ban parent Luxottica. The goal is to get them into consumers' hands in the next four to six years, according to people familiar with the matter who spoke on condition of anonymity because the details are confidential.