SEC adopts, proposes new rules

first_img Keywords Exempt market,  High frequency tradingCompanies Securities and Exchange Commission New exemption aimed at savvy investors in Alberta, Saskatchewan The final rules provide for two tiers of offerings. Tier 1 offerings allow firms to issue up to US$20 million in a 12-month period, with a maximum of $6 million offered by selling security-holders that are affiliates of the issuer. Tier 2 offerings, which impose additional disclosure and ongoing reporting requirements, allow firms to offer up to $50 million, with a maximum of $15 million from affiliated selling security-holders. “These new rules provide an effective, workable path to raising capital that also provides strong investor protections,” said SEC chair, Mary Jo White. “It is important for the commission to continue to look for ways that our rules can facilitate capital-raising by smaller companies.” The final rules also provide for the preemption of state securities law registration and qualification requirements for securities offered or sold to “qualified purchasers” in Tier 2 offerings. Tier 1 offerings will be subject to federal and state registration and qualification requirements. Commenting on the final rules, William Beatty, president of the North American Securities Administrators Association (NASAA) and Washington Securities Director, expressed concerns about the role for state regulators under the new exemption. “We appreciate that all five commissioners recognize the efforts of state securities regulators and NASAA to successfully implement a modernized and streamlined coordinated review program for Regulation A offerings to help small and emerging businesses raise investment capital. The program has been lauded for effectively streamlining the state review process that promotes efficiency by providing centralized filing, unified comments, and a definitive timeline for review,” Beatty said. “However, it appears that the SEC has adopted a rule that fails to fully recognize the significant benefits of this program to issuers and investors alike. We continue to have concerns that the rule does not maintain the important investor protection role of state securities regulators and must look more closely at the final rule as we evaluate our options,” he added. The rules will be effective in 60 days. Closing a regulatory gap To enhance regulatory oversight of HFTs and other prop trading firms, the SEC proposed a rule Wednesday that would require dealers that are active traders in off-exchange markets to become members of a self-regulatory organization (SRO). The amendments would narrow an exemption from SRO membership that was initially adopted to accommodate exchange specialists that did limited hedging, or other off-exchange business. However, it has since become taken advantage of by prop traders and HFT firms. The proposed amendments would amend the exemption to target the firms that it was originally designed for by eliminating the current prop trading exemption and replacing it with a more focused exemption that applies to off-exchange trading by a floor-based dealer that is solely for hedging the risks of its floor-based activities. The SEC says that the amendments would enhance regulatory oversight of active proprietary trading firms, such as HFTs. “This proposal embodies a simple but powerful principle of the federal securities laws – the protection of investors and the stability of our markets require that trading is overseen by both the commission and a strong self-regulatory organization,” said Mary Jo White, SEC chairwoman. “Today’s proposed rules would close a regulatory gap by extending oversight to a significant portion of off-exchange trading.” The SEC will seek public comment on the proposed rule amendment for 60 days following its publication. Facebook LinkedIn Twitter James Langton BFI investors plead for firm’s salecenter_img PwC alleges deleted emails, unusual transactions in Bridging Finance case Related news Share this article and your comments with peers on social media U.S. securities regulators Wednesday adopted rules to bolster the exempt market and proposed a new rule to enhance regulatory oversight of high frequency traders (HFTs). In a bid to facilitate access to capital for smaller companies, The U.S. Securities and Exchange Commission (SEC) adopted final rules that update and expand an existing prospectus exemption for smaller issuers, known as Regulation A. The revised exemption, which was mandated the JOBS Act, will allow smaller companies to sell up to US$50 million of securities in a 12-month period, subject to eligibility, disclosure and reporting requirements. last_img read more

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CSA extends approval for CanPX

first_img Share this article and your comments with peers on social media Fed to weigh further options for aiding U.S. economy in peril James Langton Fund managers invited into BoC backstop Shining a brighter light on bond markets With plans to bolster bond market transparency in the works, securities regulators have given debt reporting firm CanPX Inc. a six-month extension as an approved information processor. The Canadian Securities Administrators (CSA) is extending CanPX’s status as the information processor until June 30, according to a CSA notice issued Dec. 29, 2015. The CSA is planning to expand transparency in the fixed income markets with the Investment Industry Regulatory Organization of Canada (IIROC) taking over as the “information processor” for bond market data, and eventually publishing trading data for all corporate bonds, subject to a delay in disseminating that data and caps on the volume reported. Initially, the major investment dealers will be required to report to IIROC later this year, with that requirement extending to all dealers in mid-2017. See: Bringing sunshine to the bond market The regulators are currently analyzing the comments received on their initial proposals, and that they expect to publish additional information about their plans in the first quarter of 2016, the CSA notice says. CanPX has been an information processor for corporate debt securities since 2003, although its regulatory approval for that role was set to expire on Dec. 31, 2015. CanPX currently reports data on approximately 450 securities, subject to volume caps; and its data is disseminated hourly. The Investment Industry Association of Canada (IIAC) has argued that CanPX should not be killed off by the CSA’s plans for enhancing market transparency. See: Keep CanPX: IIAC In his latest industry letter, Ian Russell, IIAC president and CEO, notes that if CanPX loses its status as a regulated information processor, “dealer participation in CanPX will likely fade bringing with it an end to the CanPX corporate bond transparency service. This may also cause CanPX to shut down its government bond transparency service resulting in less transparency in government bond markets.” The IIAC has also expressed concern that the CSA’s plan to mandate transparency for all bonds may ultimately undermine liquidity, particularly in securities that are already relatively illiquid, such as high yield issues. Instead, the industry association argues that the “optimal approach” to improving bond market transparency, “would seem to be an amalgam of the proposed transparency approach based on the new IIROC surveillance system, and the existing CanPX transparency system.” To that end, the IIAC proposes that CanPX should retain its status as an approved transparency system; and, suggests that it should continue to publish data on Canadian government securities and certain corporate securities, alongside the new IIROC reporting system. Keywords BondCompanies Canadian Securities Administrators, CanPX Inc. Facebook LinkedIn Twitter Related news last_img read more

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North American task force tackles pandemic scams

first_imgBlock letters spelling fraud, with magnifying glass andreypopov/123RF Mouth mechanic turned market manipulator NASAA said that regulators have taken 250 actions — including administrative actions, cease-and-desist orders, referrals to other regulators, and requests to social media and online hosting companies — against these kinds of schemes.The scams uncovered by the task force include pitches to invest in limited partnerships, penny stocks, and private placements that involve purported medical technology. Also on the list are initial coin offerings and other cryptocurrency schemes, and crowdfunding initiatives.“Through the task force, state and provincial securities regulators successfully raised awareness of how fraudsters can use the pandemic to cloak schemes to steal money from unsuspecting investors,” said Lisa Hopkins, president of NASAA and West Virginia’s senior deputy securities commissioner, in a release.NASAA said that its Covid-19 task force, which involved 111 investigators representing 44 jurisdictions, “represents the largest coordinated enforcement initiative undertaken by state and provincial securities regulators.”“Fraudsters should know that the work of the task force is not over and that state and provincial securities regulators will continue to take decisive action to shut down their schemes,” Hopkins added. State and provincial regulators have exposed hundreds of fraudulent schemes seeking to capitalize on the Covid-19 pandemic, the North American Securities Administrators Association (NASAA) says.The group of regulators has reported that its Covid-19 Enforcement Task Force has detected 262 scams connected with the pandemic, including 168 investment frauds. James Langton Share this article and your comments with peers on social media Related news PwC alleges deleted emails, unusual transactions in Bridging Finance case BFI investors plead for firm’s sale Keywords Pandemics,  Coronavirus,  EnforcementCompanies North American Securities Administrators Association Facebook LinkedIn Twitterlast_img read more

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Blocked Roads Cleared in St. Mary

first_imgRelatedBlocked Roads Cleared in St. Mary RelatedBlocked Roads Cleared in St. Mary RelatedBlocked Roads Cleared in St. Mary FacebookTwitterWhatsAppEmail As efforts continue to restore normality in St. Mary, following last week’s heavy rains, the National Works Agency (NWA) is reporting significant progress in the clearing of blocked roads in a number of communities.In an interview with JIS News, Collin Morrison, Senior Communications Officer at the NWA, said the only road which remained impassable was the one between Fort George and Camberwell, which was blocked by landslides.He noted that roads already cleared were Highgate to Windsor Castle, Rio Nuevo to Lambkin Hill, Richmond to Clonmel, Broadgate to Agualta Vale and Chovey to Claremont.Mr. Morrison added that roads accommodating single lane traffic included Trinity to Little Bay, Bailey’s Vale to Free Hill, Trinity to Fontabelle, White Hall to Cumsee, Maiden Hall to Pembroke Hall, Montreal to Derry and Broadgate to Tom’s River.He urged motorists to exercise caution when using these roads, explaining that the NWA was making every effort to address the road problem in the affected communities.Meanwhile, the Ministry of Labour and Social Security has been distributing relief assistance, including mattresses, toiletries and foodstuff to affected persons, while conducting assessments of the damage and losses suffered for the purpose of facilitating government assistance to victims.Noting that this was being done expeditiously in view of the emergency situation in the parish, St. Mary Disaster Co-ordinator, Myrnel Grant, told JIS News that persons affected by the flooding should report their losses to the St. Mary Disaster Committee or the St. Mary Office of the Ministry of Labour and Social Security, in order to benefit from any assistance to be provided.She said the people of the affected communities were working together to do the necessary cleaning up in the aftermath of the flooding.Miss Grant commended the National Solid Waste Management Authority for the support it was providing for the cleaning up exercise.center_img Blocked Roads Cleared in St. Mary UncategorizedNovember 28, 2006 Advertisementslast_img read more

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New chair for TAFE Queensland board

first_imgNew chair for TAFE Queensland board Minister for Employment and Small Business and Minister for Training and Skills Development The Honourable Di FarmerThe new chair of TAFE Queensland Jane Seawright will bring a wealth of experience in business and law to the role.Minister for Training and Skills Development Di Farmer said Ms Seawright is an important appointment for TAFE Queensland.“Ms Seawright has an extensive background in corporate and commercial law, has worked in various industries, and has also run her own business,” Ms Farmer said.“She is an excellent choice to lead TAFE Queensland forward over the next four years – and I look forward to working with her on the future of training in this state.“Ms Seawright joins three new appointments to the board, including Dr Valerie Cooms, Bron Davies and Peter Price.“They all bring valuable insight and experience that will help guide TAFE Queensland for many years,” Ms Farmer said.Dr Valerie Cooms is an Adjunct Professor at Griffith University and a highly experienced First Nations academic and non-executive director.Bron Davies is currently the Chief Auditor of Airservices Australia with previous experience in senior auditing roles in Queensland and New South Wales.Peter Price has extensive board experience whose work has focussed on safety, strategy, risk management, technology and cyber-security.“These appointments mean women continue to have a strong voice on this board and there are real advocates for the training needs of regional Queenslanders and Aboriginal and Torres Strait Islander people,” Ms Farmer said.“TAFE Queensland performs an important role as the state’s largest vocational education and training provider and the board will guide its operations to ensure we are developing the skilled workers our economy needs as we rebuild from the effects of COVID-19.“These new appointees join continuing board members Trina Hockley AM, Kay Giles and Andrew Dettmer and I am sure their complementary skills will drive TAFE Queensland to further success.“I would like to thank outgoing chair Annabel Dolphin and members Peter Dowling AM, Deborah Wilson and Noela L’Estrange for the contributions they made during their terms.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Aboriginal, Aboriginal and Torres Strait Islander, Aboriginal and Torres Strait Islander people, Airservices Australia, Australia, Government, Griffith, Griffith University, New South Wales, price, QLD, Queensland, Skills, TAFE, TAFE Queensland, technology, university, vocational educationlast_img read more

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Opinion: Auto insurance reforms could cost Albertans their privacy

first_img See More Videos RELATED TAGSFlexCalgaryEdmontonNew VehiclesAlbertaEdmontonFlexInformation PrivacyInsurance First Look: 2022 Lexus NX The sport-cute’s looks have been softened, but its powertrains and infotainment offerings have been sharpened Trending Videos COMMENTSSHARE YOUR THOUGHTS Sharon has more than 25 years’ experience advising corporations, governments, Senate and legislative committees about implications and unintended consequences of emerging laws, technologies, and global trends in privacy, data governance, information security, cyberliability, and civil liberties, and is frequently invited by local and national media for her insights about those issues. From 2001 to 2015 she was an adjunct instructor at SAIT Polytechnic, the University of Calgary, and for Insurance Institutes across Canada. ‹ Previous Next › We encourage all readers to share their views on our articles using Facebook commenting Visit our FAQ page for more information. In an attempt to drive down soaring auto insurance rates, the Alberta government introduced Bill 41 on October 29 to modernize the Insurance Act.On its surface, Bill 41 is a valiant effort to provide drivers with some relief from soaring insurance rates (although the bill does not require cost savings to be passed on to consumers).A quick look under its hood is all it takes to see that the law is designed to make affordable insurance contingent on drivers relinquishing their privacy. In addition, UBI systems typically require a specialized smartphone app to be running at all times, including when the smartphone’s owner is asleep. The app monitors the GPS, gyroscope, accelerometer and other sensors in the phone, and can discern — with 99-per-cent accuracy (according to the developer of a UBI app used by Intact) — a phone’s precise location inside the car, and if it is being transported while walking, on a bike or in a bus. Its sensitive readings can also distinguish between “active use” (when the phone is in your hand and being used) and “passive use” (when the phone is in a holder/carrier or locked) — a proxy for detecting distracted driving.Expanded UBI usage invites the wholesale monitoring of Albertans, and the collection of personal information far beyond what is reasonable, proportionate or necessary to provide affordable auto insurance rates. Because the apps must be running at all times, insurers and the app developer will know the precise location of your phone and will be able to calculate where you go, and who you associate with — at all times.In an age of political monkey-see-monkey-do, allowing this route to insurance “affordability” to become reality in Alberta will be the precursor to its proliferation across the country — a move that will drive further incursions into personal privacy, and greater public disenchantment and distrust.Sharon Polsky is president of the Privacy and Access Council of Canada; a Privacy by Design Ambassador; a member of the CIO Strategy Council Technical Committee for Privacy & Access Control Standards and the Standards Council of Canada’s Canadian Advisory Committee on the GDPR; a member and former executive member of the Canadian Bar Association Privacy and Access Law Section, Alberta Privacy and Access Law Section; and former vice-president of the Rocky Mountain Civil Liberties Association. She holds Canada’s most senior professional privacy designation, Master Access and Privacy Professional (MAPP). Feature Story Motor Mouth: Big Brother wants to know your business — even behind the wheelby David Booth | February 22, 2019 PlayThe Rolls-Royce Boat Tail may be the most expensive new car everPlay3 common new car problems (and how to prevent them) | Maintenance Advice | Driving.caPlayFinal 5 Minivan Contenders | Driving.caPlay2021 Volvo XC90 Recharge | Ministry of Interior Affairs | Driving.caPlayThe 2022 Ford F-150 Lightning is a new take on Canada’s fave truck | Driving.caPlayBuying a used Toyota Tundra? Check these 5 things first | Used Truck Advice | Driving.caPlayCanada’s most efficient trucks in 2021 | Driving.caPlay3 ways to make night driving safer and more comfortable | Advice | Driving.caPlayDriving into the Future: Sustainability and Innovation in tomorrow’s cars | Driving.ca virtual panelPlayThese spy shots get us an early glimpse of some future models | Driving.ca advertisement Trending in Canada The Rolls-Royce Boat Tail may be the most expensive new car ever Here’s how: The new law grants the Automobile Insurance Rate Board (AIRB) greater power, so that it will be “better positioned to respond to consumer and industry needs.” Under Bill 41, the AIR Board — almost all of whose members have extensive direct insurance industry experience — will be responsible to modernize Alberta’s system for setting insurance premiums, and “allow greater ability for industry to provide innovative insurance options.”In particular, the board will be allowed to decide the rules and guidelines for expanding the use of usage-based insurance (UBI) technology that tracks mileage, driving behaviours, and much more.Bill 41 was based on recommendations of Alberta’s Auto Insurance Advisory Committee (whose members have extensive direct experience in insurance and advising government), which notes that some insurers recommended that UBI programs “be made mandatory to allow consumers to benefit from lower rates due to lower usage or due to provable good driving behaviour.”In other words, Albertans will be presumed to be high-risk drivers — and charged higher rates unless and until they agree to “voluntarily” consent to participate in a UBI program and prove their good driving behaviour.We have already seen this sort of coercive approach taken by insurers that promote “voluntary” wellness programs that “incentivize” employees to join by penalizing them if they or their spouses choose not to participate.RELATED Created with Raphaël 2.1.2Created with Raphaël 2.1.2 A crashed Acura SUV is seen on the 82 Avenue bridge west of 93 Street as snow falls in Edmonton, on Monday, Oct. 19, 2020. Multiple crashes occurred when snow made the bridge surface slick.  Ian Kucerak / Postmedia last_img read more

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Upcoming webinars: Navigating campus health policies with students

first_img Published: Aug. 4, 2020 With the implementation of the COVID-19 Health and Safety Policy, staff and faculty may need to remind students to follow these policies.Faculty and staff are invited to join webinars this month to learn about having effective conversations with students about these policies and managing classroom and community expectations.These webinars will be presented by Kat Dailey, associate director for health promotion; Daniel Easton, interim director for student conduct and conflict resolution; and Devin Cramer, assistant dean of students.Managing Classroom Expectations in the Era of COVID-19 Aug. 10, 18 ZoomThis session will help faculty develop skills to have an effective conversation with students about COVID-19 health and safety policies and manage classroom expectations.Aug. 10 at 10 a.m. MDT (Zoom link)Aug. 18 at 3 p.m. MDT (Zoom link)No registration is required. If you’d like to submit a question in advance, please complete this form. Constructive Compliance with COVID-19 Aug. 13, 21  ZoomThis session will help staff and faculty develop skills to have effective conversations with students about COVID-19 health and safety policies, and manage classroom and community expectations.Aug. 13 at 11 a.m. MDT (Zoom link)Aug. 21 at 11 a.m. MDT (Zoom link)No registration is required. If you’d like to submit a question in advance, please complete this form.Categories:Workshops & SeminarsEvents & Exhibits Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more

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Contribution to the 2013/2014 Sectoral Debate by Minister, the Hon. Horace Dalley

first_imgRelatedContribution to the Annual Sectoral Debate by State Minister, the Hon. Richard Azan RelatedContribution to the Annual Sectoral Debate by the Hon. Noel Arscott, M.P. Related2013/2014 Sectoral Debate: Minister of Labour and Social Security, the Hon. Derrick Kellier FacebookTwitterWhatsAppEmail Mr Speaker, my contribution to this 2013/14 Sectoral Debate comes two days after June 30th, the date of Jamaica’s first quarterly test under the Extended Fund Facility (EFF) Agreement with the International Monetary Fund (IMF).Mr. Speaker, although the final information is not yet available, being so close to the end of the month, we are confident of success because Jamaica has been faithful to the programme and the Government has led to ensure that the June 30th targets were met and that the country suffered no reversals.Mr Speaker, it has not been easy but we are determined that this Agreement must not suffer the same fate as the previous Stand-By Agreement.The economic programme on which Jamaica has embarked is supported by four main pillars: fiscal consolidation and debt sustainability to engender a stable and resilient macro-economy; monetary and financial system stability; structural reforms to strengthen productivity and competitiveness and strengthened social stability to protect the most vulnerable.A quick look at Central Government operations shows the primary balance for the April-May period of FY2013/14 amounted to $7.7 billion, which was $2.4 billion (44.3%) better than the $5.3 billion budgeted. More specifically Mr. Speaker, collection of revenue is above target and expenditure for the two month period is slightly less than budgeted. The expenditure was $60.3 billion which was $0.7 billion less than budgeted.The Net International Reserves (NIR) was boosted by the first draw-down following the IMF Board’s approval of Jamaica’s four-year Extended Fund Facility. Consequently, the NIR by end May 2013 increased by US$104.6 million to US$988.9million over the balance at end FY2012/13.Mr. Speaker, the cooperation of the Jamaican people has been one of the significant reasons for this relatively good out-turn in the first quarter. I want to specifically thank the participants in the NDX – financial institutions, pension funds and other bond holders, including several public bodies.This was a Jamaican effortInflationThe central bank forecast first quarter indicates that inflation will remain within a range of 2 – 3% for the June 2013 quarter as projected and that the target for the fiscal year of between 7.5 to 9.5% remains on track.We must remain steadfast and stay the course to transform the Jamaican economy. To that objective Mr. Speaker, this Portia Simpson Miller led Administration is resolute…READ MOREDownload Contribution to the 2013/2014 Sectoral Debate by Minister, the Hon. Horace Dalleycenter_img Contribution to the 2013/2014 Sectoral Debate by Minister, the Hon. Horace Dalley ParliamentJuly 2, 2013 Advertisementslast_img read more

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Microsoft warming-up for wearable launch

first_img MicrosoftsmartwatchWearable Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Tags Google taps retail with NYC store Author Thai wearable shipments fly Previous ArticleEC puts pressure again on Germany’s BNetza over MTRsNext ArticleVimpelCom agrees to sell African assets Relatedcenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 20 OCT 2014 Microsoft will launch its anticipated smartwatch in the coming weeks, according to Forbes.The device will feature many of the standard smartwatch features and sync with smartphones powered by Android and iOS as well as Microsoft’s own Windows Phone platform, the report said.But one of its stand-out features will be battery life, offering more than two days of regular use between charges – significantly better than its rivals.It was suggested that the device will reach stores in time for the Christmas 2014 holiday sales period, putting it up against rival products from Samsung, LG Electronics, Sony, Motorola and others – but ahead of Apple’s already announced Watch.It was first reported that Microsoft was planning a wearable launch in June 2014, with Forbes again being the source.What is not clear is what platform it will run, or when tools will be available for developers to create apps for the product. According to The Verge, Microsoft is creating its own apps for the various smartphone platforms to support initial availability of the device.Microsoft also has something of a chequered history launching new hardware products. It recently came out to defend its Surface tablet line amid reports that it would be axed, while its Kin handset and Zune music players failed to set the market alight.Interestingly, Microsoft has already offered smartwatches, with its SPOT products which were unveiled at CES 2003 in partnership with watchmakers Citizen, Fossil and Suunto.These products received data broadcast via the FM radio network in the US. This was said to deliver “convenient, timely, personalised web content from a variety of services”.Microsoft was also an early supporter of tablet PCs, although these failed to gain much traction outside of certain vertical markets. It took the launch of Apple’s iPad to take tablet computers into the mainstream. Steve Costello HomeDevicesNews Microsoft warming-up for wearable launch Devices Covid-19 to boost wearable segment in 2021last_img read more

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Microsoft CEO boasts 100M Office downloads on iOS and Android devices

first_imgHome Microsoft CEO boasts 100M Office downloads on iOS and Android devices Related Previous ArticleSamsung teases with new smartwatch as Apple Watch shipment beginsNext ArticleGlobe adds WhatsApp as zero-rating partner Google taps retail with NYC store Alianza sobre IA entre Nokia y Microsoft Author Microsoft, buoyed by growth in cloud-based products and mobile – as well as the inclusion of Nokia Devices and Services into its financial results – saw year-on-year revenue growth of 6 percent, to $21.7 billion, during its fiscal Q3 2015.“We are clearly taking Office everywhere,” said Satya Nadella (pictured), Microsoft’s chief executive, who had mobile devices very much on his mind.“Core to our mobile first strategy is to ensure that our service end points are on every mobile device, and to that end we have seen continued momentum with more than 100 million downloads of Office on iPhones, iPads, and Android tablets,” he said at the company’s earnings call.Commercial cloud revenue more than doubled, driven by Office 365, Azure and Dynamics CRM Online. This business segment now has an annualised run-rate of $6.3 billion.Revenue from Microsoft’s Surface tablets was $713 million, up 44 per cent compared with Q3 2014, driven by Surface Pro 3.“We are looking forward to Surface 3 availability next month,” added Nadella, “a device that has received positive reviews for being a superior, versatile device at a lower price point.”The CEO also looked to the launch of Windows 10, which, he said, would be service available across “an array of devices and will usher in a ‘new era’ of more personal computing.”“An era,” he added, “where the mobility of the experience, not the device, is paramount.”Revenue from phone hardware, courtesy of the Nokia handset unit acquisition, was $1.4 billion. Microsoft sold 8.6 million Lumia smartphones in Q3, up 18 per cent year-on-year.Operating income was down 5 per cent, to $6.6 billion, which included a $190 million restructuring charge related to Nokia Devices and Services.Net income was down 12 per cent, to $4.9 billion, partly due to R&D increases and costs related to job cuts announced last year. Microsoftcenter_img Ken Wieland AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 24 APR 2015 Tags Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more Nokia makes AI move with Microsoft Devices last_img read more

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